Stephens Inc. AR Acquires New Stake in First Interstate Bancsystem Inc (FIBK)

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Stephens Inc. AR acquired a new position in First Interstate Bancsystem Inc (NASDAQ:FIBK) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,149 shares of the financial services provider’s stock, valued at approximately $205,000.

A number of other institutional investors also recently added to or reduced their stakes in FIBK. Vanguard Group Inc. lifted its position in shares of First Interstate Bancsystem by 14.0% during the 3rd quarter. Vanguard Group Inc. now owns 2,855,431 shares of the financial services provider’s stock valued at $127,924,000 after buying an additional 349,804 shares in the last quarter. BlackRock Inc. lifted its position in shares of First Interstate Bancsystem by 13.6% during the 4th quarter. BlackRock Inc. now owns 2,472,238 shares of the financial services provider’s stock valued at $90,384,000 after buying an additional 295,345 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of First Interstate Bancsystem by 3.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,638,409 shares of the financial services provider’s stock valued at $73,401,000 after buying an additional 47,677 shares in the last quarter. FMR LLC lifted its position in shares of First Interstate Bancsystem by 150.2% during the 4th quarter. FMR LLC now owns 1,340,663 shares of the financial services provider’s stock valued at $49,014,000 after buying an additional 804,884 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of First Interstate Bancsystem by 20.1% during the 4th quarter. Millennium Management LLC now owns 751,741 shares of the financial services provider’s stock valued at $27,484,000 after buying an additional 125,944 shares in the last quarter. Institutional investors and hedge funds own 52.00% of the company’s stock.

In other First Interstate Bancsystem news, CEO Kevin P. Riley sold 5,000 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $39.36, for a total value of $196,800.00. Following the completion of the sale, the chief executive officer now directly owns 21,880 shares of the company’s stock, valued at approximately $861,196.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Philip G. Gaglia sold 2,112 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $42.20, for a total value of $89,126.40. Following the completion of the sale, the insider now directly owns 3,184 shares of the company’s stock, valued at $134,364.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,986 shares of company stock valued at $1,023,445. 24.93% of the stock is owned by corporate insiders.

FIBK has been the subject of several recent research reports. BidaskClub downgraded First Interstate Bancsystem from a “hold” rating to a “sell” rating in a research note on Saturday, May 18th. Zacks Investment Research downgraded First Interstate Bancsystem from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. First Interstate Bancsystem has an average rating of “Hold” and a consensus target price of $45.65.

NASDAQ FIBK opened at $38.33 on Monday. First Interstate Bancsystem Inc has a one year low of $34.61 and a one year high of $47.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $2.33 billion, a P/E ratio of 13.13, a PEG ratio of 1.37 and a beta of 1.15.

First Interstate Bancsystem (NASDAQ:FIBK) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). First Interstate Bancsystem had a net margin of 25.84% and a return on equity of 10.69%. The firm had revenue of $150.50 million during the quarter, compared to analyst estimates of $151.84 million. On average, sell-side analysts forecast that First Interstate Bancsystem Inc will post 3.12 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Monday, May 13th were paid a $0.31 dividend. This is an increase from First Interstate Bancsystem’s previous quarterly dividend of $0.20. This represents a $1.24 annualized dividend and a yield of 3.24%. The ex-dividend date was Friday, May 10th. First Interstate Bancsystem’s dividend payout ratio is currently 42.47%.

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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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