State Street Corp raised its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 15.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 884,868 shares of the financial services provider’s stock after buying an additional 115,241 shares during the period. State Street Corp owned approximately 1.57% of First Interstate BancSystem worth $32,915,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. UBS Asset Management Americas Inc. purchased a new position in First Interstate BancSystem in the 2nd quarter valued at approximately $213,000. Kennedy Capital Management Inc. purchased a new position in First Interstate BancSystem in the 2nd quarter valued at approximately $2,020,000. LSV Asset Management boosted its position in First Interstate BancSystem by 13.2% in the 2nd quarter. LSV Asset Management now owns 618,585 shares of the financial services provider’s stock valued at $23,011,000 after buying an additional 71,900 shares during the period. Teachers Advisors LLC boosted its position in First Interstate BancSystem by 28.7% in the 2nd quarter. Teachers Advisors LLC now owns 57,704 shares of the financial services provider’s stock valued at $2,147,000 after buying an additional 12,864 shares during the period. Finally, First Trust Advisors LP boosted its position in First Interstate BancSystem by 196.5% in the 2nd quarter. First Trust Advisors LP now owns 117,541 shares of the financial services provider’s stock valued at $4,373,000 after buying an additional 77,901 shares during the period. 44.92% of the stock is owned by institutional investors.

Several brokerages have commented on FIBK. Zacks Investment Research raised shares of First Interstate BancSystem from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Wednesday, November 1st. Barclays PLC set a $43.00 price target on shares of First Interstate BancSystem and gave the company a “buy” rating in a research report on Wednesday, October 11th. ValuEngine cut shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Finally, BidaskClub cut shares of First Interstate BancSystem from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $43.25.

Shares of First Interstate BancSystem, Inc. (NASDAQ FIBK) opened at $36.85 on Friday. First Interstate BancSystem, Inc. has a fifty-two week low of $33.33 and a fifty-two week high of $45.35. The firm has a market cap of $2,119.47, a price-to-earnings ratio of 16.25, a PEG ratio of 1.78 and a beta of 1.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.79 and a quick ratio of 0.79.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st will be issued a $0.24 dividend. The ex-dividend date is Monday, October 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.61%. First Interstate BancSystem’s payout ratio is 48.24%.

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In other news, Director Ross E. Leckie sold 1,500 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $38.85, for a total value of $58,275.00. Following the sale, the director now directly owns 23,028 shares in the company, valued at approximately $894,637.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 2,822 shares of company stock worth $104,709 over the last 90 days. Company insiders own 38.22% of the company’s stock.

First Interstate BancSystem Company 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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