Nationwide Fund Advisors Raises Stake in First Interstate BancSystem, Inc. (FIBK)

Nationwide Fund Advisors lifted its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 40.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,951 shares of the financial services provider’s stock after purchasing an additional 12,323 shares during the quarter. Nationwide Fund Advisors owned about 0.08% of First Interstate BancSystem worth $1,598,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of FIBK. BNP Paribas Arbitrage SA increased its holdings in shares of First Interstate BancSystem by 622.6% in the second quarter. BNP Paribas Arbitrage SA now owns 2,970 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 2,559 shares during the last quarter. Sei Investments Co. increased its holdings in shares of First Interstate BancSystem by 5.6% in the first quarter. Sei Investments Co. now owns 3,154 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 168 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of First Interstate BancSystem by 17.7% in the second quarter. Victory Capital Management Inc. now owns 4,531 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 680 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of First Interstate BancSystem by 38.3% in the second quarter. Great West Life Assurance Co. Can now owns 4,611 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 1,278 shares during the last quarter. Finally, Fifth Third Bancorp bought a new stake in shares of First Interstate BancSystem in the first quarter worth about $216,000. 44.85% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: This news story was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this news story on another website, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The original version of this news story can be viewed at https://ledgergazette.com/2017/10/19/nationwide-fund-advisors-raises-stake-in-first-interstate-bancsystem-inc-fibk.html.

Several brokerages have recently issued reports on FIBK. Zacks Investment Research cut First Interstate BancSystem from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Barclays PLC set a $43.00 target price on First Interstate BancSystem and gave the stock a “buy” rating in a report on Wednesday, October 11th. BidaskClub cut First Interstate BancSystem from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Finally, ValuEngine cut First Interstate BancSystem from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $42.50.

Shares of First Interstate BancSystem, Inc. (NASDAQ FIBK) opened at 38.15 on Thursday. The company has a market capitalization of $2.15 billion, a PE ratio of 18.46 and a beta of 1.17. First Interstate BancSystem, Inc. has a 52 week low of $30.70 and a 52 week high of $45.35. The firm’s 50-day moving average price is $36.80 and its 200 day moving average price is $37.03.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.03. The company had revenue of $116.50 million during the quarter, compared to the consensus estimate of $119.97 million. First Interstate BancSystem had a net margin of 21.08% and a return on equity of 9.44%. Equities analysts predict that First Interstate BancSystem, Inc. will post $2.29 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st will be issued a $0.24

Several other hedge funds have also recently modified their holdings of FIBK. BNP Paribas Arbitrage SA increased its holdings in shares of First Interstate BancSystem by 622.6% in the second quarter. BNP Paribas Arbitrage SA now owns 2,970 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 2,559 shares during the last quarter. Sei Investments Co. increased its holdings in shares of First Interstate BancSystem by 5.6% in the first quarter. Sei Investments Co. now owns 3,154 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 168 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of First Interstate BancSystem by 17.7% in the second quarter. Victory Capital Management Inc. now owns 4,531 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 680 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of First Interstate BancSystem by 38.3% in the second quarter. Great West Life Assurance Co. Can now owns 4,611 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 1,278 shares during the last quarter. Finally, Fifth Third Bancorp bought a new stake in shares of First Interstate BancSystem in the first quarter worth about $216,000. 44.85% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: This news story was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this news story on another website, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The original version of this news story can be viewed at https://ledgergazette.com/2017/10/19/nationwide-fund-advisors-raises-stake-in-first-interstate-bancsystem-inc-fibk.html.

Several brokerages have recently issued reports on FIBK. Zacks Investment Research cut First Interstate BancSystem from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Barclays PLC set a $43.00 target price on First Interstate BancSystem and gave the stock a “buy” rating in a report on Wednesday, October 11th. BidaskClub cut First Interstate BancSystem from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Finally, ValuEngine cut First Interstate BancSystem from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $42.50.

Shares of First Interstate BancSystem, Inc. (NASDAQ FIBK) opened at 38.15 on Thursday. The company has a market capitalization of $2.15 billion, a PE ratio of 18.46 and a beta of 1.17. First Interstate BancSystem, Inc. has a 52 week low of $30.70 and a 52 week high of $45.35. The firm’s 50-day moving average price is $36.80 and its 200 day moving average price is $37.03.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.03. The company had revenue of $116.50 million during the quarter, compared to the consensus estimate of $119.97 million. First Interstate BancSystem had a net margin of 21.08% and a return on equity of 9.44%. Equities analysts predict that First Interstate BancSystem, Inc. will post $2.29 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Shareholders 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 yield of 2.52%. First Interstate BancSystem’s payout ratio is 46.38%.

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.

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

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