Northern Trust Corp Has $16.84 Million Stake in First Interstate BancSystem (FIBK)

Northern Trust Corp reduced its position in shares of First Interstate BancSystem (NASDAQ:FIBK) by 0.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 425,644 shares of the financial services provider’s stock after selling 2,035 shares during the period. Northern Trust Corp owned 0.75% of First Interstate BancSystem worth $16,835,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. boosted its holdings in shares of First Interstate BancSystem by 2.2% during the first quarter. American Century Companies Inc. now owns 64,335 shares of the financial services provider’s stock worth $2,544,000 after purchasing an additional 1,399 shares during the period. LSV Asset Management boosted its holdings in shares of First Interstate BancSystem by 0.3% during the first quarter. LSV Asset Management now owns 680,200 shares of the financial services provider’s stock worth $26,901,000 after purchasing an additional 1,800 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of First Interstate BancSystem by 29.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 8,035 shares of the financial services provider’s stock worth $322,000 after purchasing an additional 1,815 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of First Interstate BancSystem by 68.3% during the first quarter. Envestnet Asset Management Inc. now owns 4,507 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 1,829 shares during the period. Finally, Swiss National Bank lifted its holdings in First Interstate BancSystem by 4.5% in the first quarter. Swiss National Bank now owns 46,383 shares of the financial services provider’s stock worth $1,834,000 after buying an additional 2,000 shares during the period. Institutional investors own 46.59% of the company’s stock.

In other First Interstate BancSystem news, Director Jonathan R. Scott sold 19,623 shares of the firm’s stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $43.85, for a total transaction of $860,468.55. Following the completion of the transaction, the director now owns 4,292 shares of the company’s stock, valued at $188,204.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John M. Heyneman, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Sunday, November 25th. The shares were sold at an average price of $37.35, for a total transaction of $74,700.00. Following the transaction, the director now directly owns 3,621 shares of the company’s stock, valued at approximately $135,244.35. The disclosure for this sale can be found here. Insiders have sold 46,867 shares of company stock valued at $1,996,912 in the last ninety days. Insiders own 40.23% of the company’s stock.

Several brokerages have commented on FIBK. ValuEngine upgraded shares of First Interstate BancSystem from a “hold” rating to a “buy” rating in a report on Tuesday, May 22nd. Zacks Investment Research lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Tuesday. BidaskClub upgraded shares of First Interstate BancSystem from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 19th. FIG Partners upgraded shares of First Interstate BancSystem from a “market perform” rating to an “outperform” rating in a report on Thursday, April 26th. Finally, Sandler O’Neill restated a “buy” rating and issued a $46.00 price objective on shares of First Interstate BancSystem in a report on Thursday, March 29th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $45.50.

Shares of FIBK opened at $42.55 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.07. First Interstate BancSystem has a one year low of $33.33 and a one year high of $44.95. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 1.60 and a beta of 1.13.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Wednesday, April 25th. The financial services provider reported $0.68 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.68. First Interstate BancSystem had a net margin of 21.49% and a return on equity of 9.50%. The business had revenue of $135.00 million during the quarter, compared to the consensus estimate of $136.17 million. sell-side analysts predict that First Interstate BancSystem will post 2.94 EPS for the current fiscal year.

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.

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

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