First Interstate BancSystem, Inc. (NASDAQ:FIBK) Stock Holdings Lessened by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lowered its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK – Get Rating) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 75,476 shares of the financial services provider’s stock after selling 2,533 shares during the period. Brandywine Global Investment Management LLC owned 0.07% of First Interstate BancSystem worth $2,917,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in FIBK. Advisor Group Holdings Inc. increased its holdings in First Interstate BancSystem by 5.7% in the first quarter. Advisor Group Holdings Inc. now owns 7,822 shares of the financial services provider’s stock worth $288,000 after buying an additional 422 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in First Interstate BancSystem by 225.1% in the first quarter. JPMorgan Chase & Co. now owns 281,299 shares of the financial services provider’s stock worth $10,344,000 after buying an additional 194,783 shares during the last quarter. Raymond James & Associates grew its holdings in First Interstate BancSystem by 13.0% during the first quarter. Raymond James & Associates now owns 9,640 shares of the financial services provider’s stock valued at $354,000 after purchasing an additional 1,107 shares during the last quarter. American Century Companies Inc. acquired a new position in First Interstate BancSystem during the first quarter valued at approximately $1,046,000. Finally, PNC Financial Services Group Inc. grew its holdings in First Interstate BancSystem by 263.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,081 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 1,508 shares during the last quarter. Institutional investors and hedge funds own 77.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on FIBK shares. Keefe, Bruyette & Woods lowered their price target on First Interstate BancSystem from $38.00 to $33.00 and set a “market perform” rating on the stock in a report on Thursday, April 6th. Stephens upgraded shares of First Interstate BancSystem from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $44.00 to $43.00 in a research note on Wednesday, February 1st. StockNews.com began coverage on shares of First Interstate BancSystem in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. UBS Group began coverage on shares of First Interstate BancSystem in a research note on Wednesday, March 15th. They issued a “neutral” rating and a $33.00 price objective on the stock. Finally, Wells Fargo & Company lowered their price objective on shares of First Interstate BancSystem from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $36.40.

Insider Activity at First Interstate BancSystem

In related news, major shareholder Julie A. Scott sold 62,223 shares of First Interstate BancSystem stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $23.07, for a total value of $1,435,484.61. Following the completion of the transaction, the insider now directly owns 2,376,851 shares of the company’s stock, valued at $54,833,952.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Marcy D. Mutch bought 5,000 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was bought at an average cost of $25.59 per share, for a total transaction of $127,950.00. Following the transaction, the chief financial officer now owns 45,877 shares of the company’s stock, valued at $1,173,992.43. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Julie A. Scott sold 62,223 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $23.07, for a total value of $1,435,484.61. Following the transaction, the insider now owns 2,376,851 shares of the company’s stock, valued at $54,833,952.57. The disclosure for this sale can be found here. Insiders sold 481,000 shares of company stock valued at $14,734,022 over the last ninety days. 6.80% of the stock is owned by insiders.

First Interstate BancSystem Stock Down 0.8 %

Shares of NASDAQ FIBK opened at $23.35 on Friday. The stock has a market cap of $2.44 billion, a PE ratio of 8.49 and a beta of 0.84. The business has a fifty day moving average of $27.04 and a two-hundred day moving average of $34.62. First Interstate BancSystem, Inc. has a 52-week low of $21.03 and a 52-week high of $46.34. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.75 and a current ratio of 0.76.

First Interstate BancSystem (NASDAQ:FIBK – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.28). First Interstate BancSystem had a net margin of 22.74% and a return on equity of 11.38%. During the same period in the prior year, the firm earned $0.21 earnings per share. As a group, equities research analysts expect that First Interstate BancSystem, Inc. will post 2.85 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Monday, May 8th were issued a $0.47 dividend. The ex-dividend date was Friday, May 5th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 8.05%. First Interstate BancSystem’s dividend payout ratio is 68.36%.

First Interstate BancSystem Profile

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First Interstate BancSystem, Inc is a financial holding company, which engages in the provision of community banking solutions. The firm offers commercial and consumer banking services to individuals, businesses, municipalities, and other entities. The company was founded by Homer Scott Sr. in 1968 and is headquartered in Billings, MT.