Citadel Advisors LLC Acquires 4,838 Shares of First Interstate Bancsystem Inc (NASDAQ:FIBK)

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Citadel Advisors LLC increased its holdings in First Interstate Bancsystem Inc (NASDAQ:FIBK) by 0.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 652,767 shares of the financial services provider’s stock after buying an additional 4,838 shares during the period. Citadel Advisors LLC owned about 1.07% of First Interstate Bancsystem worth $25,856,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of FIBK. Swiss National Bank raised its position in shares of First Interstate Bancsystem by 14.1% in the second quarter. Swiss National Bank now owns 75,283 shares of the financial services provider’s stock valued at $2,982,000 after purchasing an additional 9,300 shares during the period. Wells Fargo & Company MN boosted its stake in First Interstate Bancsystem by 41.7% in the second quarter. Wells Fargo & Company MN now owns 323,239 shares of the financial services provider’s stock valued at $12,804,000 after buying an additional 95,117 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of First Interstate Bancsystem by 65.8% during the second quarter. Envestnet Asset Management Inc. now owns 26,491 shares of the financial services provider’s stock valued at $1,049,000 after purchasing an additional 10,512 shares in the last quarter. Granite Investment Partners LLC boosted its stake in shares of First Interstate Bancsystem by 52.1% during the second quarter. Granite Investment Partners LLC now owns 43,335 shares of the financial services provider’s stock valued at $1,716,000 after purchasing an additional 14,835 shares in the last quarter. Finally, Monarch Partners Asset Management LLC boosted its stake in shares of First Interstate Bancsystem by 5.8% during the second quarter. Monarch Partners Asset Management LLC now owns 299,201 shares of the financial services provider’s stock valued at $11,851,000 after purchasing an additional 16,500 shares in the last quarter. 49.15% of the stock is owned by institutional investors.

FIBK has been the topic of a number of recent research reports. BidaskClub lowered First Interstate Bancsystem from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Zacks Investment Research downgraded First Interstate Bancsystem from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, ValuEngine downgraded First Interstate Bancsystem from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. First Interstate Bancsystem currently has an average rating of “Hold” and a consensus target price of $43.98.

First Interstate Bancsystem stock traded up $0.28 during mid-day trading on Friday, reaching $40.53. The stock had a trading volume of 254,189 shares, compared to its average volume of 184,012. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.82 and a current ratio of 0.82. First Interstate Bancsystem Inc has a fifty-two week low of $34.61 and a fifty-two week high of $46.62. The stock’s 50-day simple moving average is $39.08 and its 200-day simple moving average is $39.73. The firm has a market capitalization of $2.65 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 1.47 and a beta of 1.19.

First Interstate Bancsystem (NASDAQ:FIBK) last announced its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.73 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.02). First Interstate Bancsystem had a net margin of 24.08% and a return on equity of 10.24%. The firm had revenue of $164.70 million during the quarter, compared to analyst estimates of $163.66 million. On average, research analysts forecast that First Interstate Bancsystem Inc will post 3.06 earnings per share for the current fiscal year.

In related news, Director Ross E. Leckie sold 1,219 shares of First Interstate Bancsystem stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $39.27, for a total transaction of $47,870.13. Following the transaction, the director now owns 17,027 shares of the company’s stock, valued at $668,650.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ross E. Leckie sold 3,000 shares of First Interstate Bancsystem stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $40.60, for a total value of $121,800.00. Following the transaction, the director now directly owns 14,027 shares in the company, valued at approximately $569,496.20. The disclosure for this sale can be found here. 24.93% of the stock is owned by insiders.

First Interstate Bancsystem Profile

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.

Further Reading: Purposes and Functions of the Federal Reserve

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

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