First Trust Advisors LP lessened its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 5.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,578 shares of the financial services provider’s stock after selling 6,963 shares during the quarter. First Trust Advisors LP owned approximately 0.20% of First Interstate BancSystem worth $4,230,000 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 the stock. Mutual of America Capital Management LLC increased its position in First Interstate BancSystem by 1.8% during the 3rd quarter. Mutual of America Capital Management LLC now owns 180,609 shares of the financial services provider’s stock worth $6,908,000 after purchasing an additional 3,196 shares in the last quarter. Shell Asset Management Co. purchased a new stake in First Interstate BancSystem during the 3rd quarter worth about $1,059,000. Phocas Financial Corp. increased its position in First Interstate BancSystem by 129.3% during the 2nd quarter. Phocas Financial Corp. now owns 277,152 shares of the financial services provider’s stock worth $10,310,000 after purchasing an additional 156,269 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in First Interstate BancSystem during the 2nd quarter worth about $553,000. Finally, Koch Industries Inc. purchased a new stake in First Interstate BancSystem during the 2nd quarter worth about $584,000. Hedge funds and other institutional investors own 46.07% of the company’s stock.

In other First Interstate BancSystem news, Director Ross E. Leckie sold 1,500 shares of First Interstate BancSystem stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $38.85, for a total value of $58,275.00. Following the completion of the sale, the director now owns 23,028 shares in the company, valued at approximately $894,637.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan R. Scott sold 25,000 shares of First Interstate BancSystem stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $36.81, for a total value of $920,250.00. Following the completion of the sale, the director now owns 5,556 shares of the company’s stock, valued at approximately $204,516.36. The disclosure for this sale can be found here. Insiders sold a total of 52,357 shares of company stock valued at $1,941,627 in the last 90 days. 38.22% of the stock is owned by company insiders.

A number of research firms recently commented on FIBK. Zacks Investment Research upgraded First Interstate BancSystem from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Tuesday, August 1st. BidaskClub cut First Interstate BancSystem from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. ValuEngine cut First Interstate BancSystem from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Finally, Barclays PLC set a $43.00 price target on First Interstate BancSystem and gave the company a “buy” rating in a report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $43.25.

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Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) opened at $37.90 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $2,119.47, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.78 and a beta of 1.19. First Interstate BancSystem, Inc. has a fifty-two week low of $33.33 and a fifty-two week high of $45.35.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.53%. The ex-dividend date was Monday, October 30th. First Interstate BancSystem’s dividend payout ratio (DPR) is 48.24%.

First Interstate BancSystem Profile

First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.

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

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