Macquarie Group Ltd. boosted its position in First Interstate Bancsystem Inc (NASDAQ:FIBK) by 14.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,156,397 shares of the financial services provider’s stock after purchasing an additional 271,054 shares during the period. Macquarie Group Ltd. owned approximately 3.82% of First Interstate Bancsystem worth $86,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in FIBK. SG Americas Securities LLC bought a new stake in shares of First Interstate Bancsystem during the third quarter valued at approximately $105,000. Stifel Financial Corp bought a new stake in shares of First Interstate Bancsystem during the third quarter valued at approximately $200,000. Opus Capital Group LLC bought a new stake in shares of First Interstate Bancsystem during the fourth quarter valued at approximately $223,000. Victory Capital Management Inc. raised its stake in shares of First Interstate Bancsystem by 31.9% during the third quarter. Victory Capital Management Inc. now owns 5,977 shares of the financial services provider’s stock valued at $229,000 after acquiring an additional 1,446 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of First Interstate Bancsystem during the third quarter valued at approximately $238,000. 46.09% of the stock is owned by institutional investors and hedge funds.
FIBK has been the subject of several research analyst reports. Piper Jaffray Companies reaffirmed a “buy” rating on shares of First Interstate Bancsystem in a research note on Wednesday, January 31st. Zacks Investment Research downgraded shares of First Interstate Bancsystem from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Barclays lifted their price target on shares of First Interstate Bancsystem from $43.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $45.00 price target on shares of First Interstate Bancsystem in a research note on Friday, December 22nd. One research analyst has rated the stock with a sell rating, three have given 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 $44.75.
First Interstate Bancsystem Inc (NASDAQ:FIBK) opened at $41.60 on Friday. The stock has a market cap of $2,324.44, a P/E ratio of 20.29, a P/E/G ratio of 1.54 and a beta of 1.12. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. First Interstate Bancsystem Inc has a 1-year low of $33.33 and a 1-year high of $42.90.
First Interstate Bancsystem (NASDAQ:FIBK) last issued its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.08). The business had revenue of $138.03 million for the quarter, compared to analysts’ expectations of $138.00 million. First Interstate Bancsystem had a net margin of 20.50% and a return on equity of 9.10%. equities analysts predict that First Interstate Bancsystem Inc will post 2.97 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Monday, February 12th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.69%. This is a positive change from First Interstate Bancsystem’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, February 9th. First Interstate Bancsystem’s dividend payout ratio (DPR) is presently 54.63%.
In related news, SVP Kevin Guenthner sold 5,878 shares of First Interstate Bancsystem stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $40.37, for a total transaction of $237,294.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin P. Riley acquired 800 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were acquired at an average cost of $41.34 per share, for a total transaction of $33,072.00. Following the completion of the acquisition, the chief executive officer now owns 28,349 shares of the company’s stock, valued at $1,171,947.66. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 269,050 shares of company stock worth $10,643,897. 38.22% of the stock is currently owned by corporate insiders.
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About First Interstate Bancsystem
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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