Renaissance Technologies LLC raised its holdings in First Interstate Bancsystem Inc (NASDAQ:FIBK) by 24.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 529,419 shares of the financial services provider’s stock after buying an additional 105,000 shares during the quarter. Renaissance Technologies LLC’s holdings in First Interstate Bancsystem were worth $22,341,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Bank of New York Mellon Corp grew its holdings in First Interstate Bancsystem by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 2,525,997 shares of the financial services provider’s stock valued at $106,597,000 after purchasing an additional 87,106 shares during the period. BlackRock Inc. grew its holdings in First Interstate Bancsystem by 22.5% in the second quarter. BlackRock Inc. now owns 2,055,836 shares of the financial services provider’s stock valued at $86,756,000 after purchasing an additional 377,376 shares during the period. Millennium Management LLC grew its holdings in First Interstate Bancsystem by 38.2% in the first quarter. Millennium Management LLC now owns 925,836 shares of the financial services provider’s stock valued at $36,617,000 after purchasing an additional 255,808 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in First Interstate Bancsystem by 14.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 532,227 shares of the financial services provider’s stock valued at $22,460,000 after purchasing an additional 68,075 shares during the period. Finally, Bahl & Gaynor Inc. grew its holdings in First Interstate Bancsystem by 1.1% in the first quarter. Bahl & Gaynor Inc. now owns 456,987 shares of the financial services provider’s stock valued at $18,073,000 after purchasing an additional 4,988 shares during the period. 49.94% of the stock is currently owned by institutional investors.

Several analysts have commented on the company. ValuEngine lowered First Interstate Bancsystem from a “buy” rating to a “hold” rating in a report on Monday, June 11th. BidaskClub lowered First Interstate Bancsystem from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 29th. Zacks Investment Research upgraded First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Monday, July 30th. Finally, Barclays restated a “buy” rating and issued a $48.00 target price on shares of First Interstate Bancsystem in a research report on Sunday, July 29th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. First Interstate Bancsystem has a consensus rating of “Buy” and an average price target of $47.00.

In other news, Director John M. Heyneman, Jr. sold 1,000 shares of the company’s stock in a transaction dated Wednesday, December 12th. The stock was sold at an average price of $41.87, for a total transaction 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 approximately $151,611.27. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John M. Heyneman, Jr. sold 2,000 shares of the company’s stock in a transaction dated Sunday, November 25th. The stock was sold at an average price of $37.35, for a total value of $74,700.00. Following the transaction, the director now directly owns 3,621 shares of the company’s stock, valued at $135,244.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,000 shares of company stock valued at $300,210. Insiders own 40.23% of the company’s stock.

NASDAQ:FIBK opened at $45.70 on Monday. The stock has a market cap of $2.59 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 1.71 and a beta of 1.10. First Interstate Bancsystem Inc has a 1 year low of $36.00 and a 1 year high of $47.05. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.07.

First Interstate Bancsystem (NASDAQ:FIBK) last released its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ 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 earnings per share for the current year.

About First Interstate Bancsystem

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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