Engineers Gate Manager LP trimmed its stake in shares of First Interstate Bancsystem Inc (NASDAQ:FIBK) by 34.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,186 shares of the financial services provider’s stock after selling 6,398 shares during the quarter. Engineers Gate Manager LP’s holdings in First Interstate Bancsystem were worth $514,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of FIBK. SG Americas Securities LLC acquired a new stake in First Interstate Bancsystem during the 1st quarter worth approximately $107,000. Envestnet Asset Management Inc. lifted its holdings in shares of First Interstate Bancsystem by 68.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 4,507 shares of the financial services provider’s stock valued at $178,000 after buying an additional 1,829 shares during the period. FSI Group LLC lifted its holdings in shares of First Interstate Bancsystem by 168.3% in the 1st quarter. FSI Group LLC now owns 5,113 shares of the financial services provider’s stock valued at $202,000 after buying an additional 3,207 shares during the period. Stevens Capital Management LP acquired a new stake in shares of First Interstate Bancsystem in the 1st quarter valued at approximately $219,000. Finally, Stifel Financial Corp acquired a new stake in shares of First Interstate Bancsystem in the 1st quarter valued at approximately $223,000. 48.69% of the stock is owned by institutional investors.

In related news, Director Jonathan R. Scott sold 19,623 shares of the firm’s stock in a transaction that occurred on Thursday, May 24th. The stock was sold at an average price of $43.85, for a total value of $860,468.55. Following the completion of the transaction, the director now directly owns 4,292 shares of the company’s stock, valued at approximately $188,204.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John M. Heyneman, Jr. sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 12th. The shares were sold at an average price of $41.87, for a total value of $41,870.00. Following the completion of the transaction, the director now directly owns 3,621 shares of the company’s stock, valued at $151,611.27. The disclosure for this sale can be found here. Insiders sold a total of 30,623 shares of company stock valued at $1,328,279 over the last ninety days. 40.23% of the stock is currently owned by company insiders.

Several analysts have recently commented on FIBK shares. Zacks Investment Research raised First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Monday, July 30th. Barclays reissued a “buy” rating and issued a $48.00 price target on shares of First Interstate Bancsystem in a report on Sunday, July 29th. BidaskClub cut First Interstate Bancsystem from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 30th. ValuEngine raised First Interstate Bancsystem from a “hold” rating to a “buy” rating in a report on Tuesday, May 22nd. Finally, FIG Partners raised First Interstate Bancsystem from a “market perform” rating to an “outperform” rating in a report on Thursday, April 26th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. First Interstate Bancsystem presently has an average rating of “Buy” and a consensus target price of $47.00.

FIBK opened at $45.55 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $2.58 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 1.70 and a beta of 1.08. First Interstate Bancsystem Inc has a 12 month low of $33.33 and a 12 month high of $45.75.

First Interstate Bancsystem (NASDAQ:FIBK) last posted its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. The business had revenue of $141.40 million during the quarter, compared to analysts’ expectations of $139.12 million. First Interstate Bancsystem had a return on equity of 10.35% and a net margin of 23.86%. research analysts forecast that First Interstate Bancsystem Inc will post 2.98 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 21st. Investors of record on Friday, August 10th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Thursday, August 9th. First Interstate Bancsystem’s payout ratio is currently 55.72%.

First Interstate Bancsystem Profile

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.

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Institutional Ownership by Quarter for First Interstate Bancsystem (NASDAQ:FIBK)

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