Trexquant Investment LP purchased a new position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) during the second quarter, Holdings Channel reports. The institutional investor purchased 15,500 shares of the financial services provider’s stock, valued at approximately $577,000.

Several other large investors also recently added to or reduced their stakes in FIBK. Advisors Asset Management Inc. increased its stake in First Interstate BancSystem by 829.0% in the first quarter. Advisors Asset Management Inc. now owns 6,029 shares of the financial services provider’s stock worth $239,000 after buying an additional 5,380 shares during the period. Karp Capital Management Corp bought a new stake in First Interstate BancSystem during the first quarter worth about $663,000. First Interstate Bank increased its stake in First Interstate BancSystem by 33.7% in the first quarter. First Interstate Bank now owns 125,746 shares of the financial services provider’s stock worth $4,986,000 after buying an additional 31,722 shares during the period. Swiss National Bank increased its stake in First Interstate BancSystem by 5.0% in the first quarter. Swiss National Bank now owns 33,700 shares of the financial services provider’s stock worth $1,336,000 after buying an additional 1,600 shares during the period. Finally, First Trust Advisors LP increased its stake in First Interstate BancSystem by 9.4% in the first quarter. First Trust Advisors LP now owns 39,640 shares of the financial services provider’s stock worth $1,572,000 after buying an additional 3,403 shares during the period. 38.69% of the stock is currently owned by institutional investors and hedge funds.

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) opened at 35.45 on Friday. The stock has a market capitalization of $2.00 billion, a P/E ratio of 17.18 and a beta of 1.15. The stock has a 50 day moving average of $36.75 and a 200-day moving average of $38.79. First Interstate BancSystem, Inc. has a 1-year low of $29.55 and a 1-year high of $45.35.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Wednesday, July 26th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.03. First Interstate BancSystem had a net margin of 21.08% and a return on equity of 9.44%. The business had revenue of $116.50 million for the quarter, compared to analysts’ expectations of $119.97 million. Equities research analysts predict that First Interstate BancSystem, Inc. will post $2.29 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Wednesday, August 2nd were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, July 31st. This represents a $0.96 annualized dividend and a dividend yield of 2.71%. First Interstate BancSystem’s dividend payout ratio is presently 46.38%.

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FIBK has been the topic of a number of research analyst reports. Piper Jaffray Companies reissued an “overweight” rating and issued a $43.00 price target (down from $44.00) on shares of First Interstate BancSystem in a research note on Thursday, June 1st. Zacks Investment Research downgraded shares of First Interstate BancSystem from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 1st. BidaskClub raised shares of First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. ValuEngine raised shares of First Interstate BancSystem from a “hold” rating to a “buy” rating in a research note on Wednesday, May 31st. Finally, Wells Fargo & Company raised shares of First Interstate BancSystem from a “market perform” rating to an “outperform” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. First Interstate BancSystem currently has an average rating of “Buy” and a consensus target price of $42.00.

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.

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

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