Eagle Asset Management Inc. cut its stake in shares of First Interstate Bancsystem Inc (NASDAQ:FIBK) by 1.7% during the first quarter, HoldingsChannel reports. The firm owned 159,082 shares of the financial services provider’s stock after selling 2,755 shares during the period. Eagle Asset Management Inc.’s holdings in First Interstate Bancsystem were worth $6,334,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Quantamental Technologies LLC bought a new stake in First Interstate Bancsystem in the fourth quarter worth approximately $26,000. Captrust Financial Advisors grew its position in First Interstate Bancsystem by 122.3% in the fourth quarter. Captrust Financial Advisors now owns 767 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 422 shares in the last quarter. Buffington Mohr McNeal bought a new stake in First Interstate Bancsystem in the first quarter worth approximately $45,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in First Interstate Bancsystem by 19.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,479 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 411 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its position in First Interstate Bancsystem by 71.4% in the fourth quarter. Great West Life Assurance Co. Can now owns 3,760 shares of the financial services provider’s stock worth $132,000 after acquiring an additional 1,566 shares in the last quarter. 49.57% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ FIBK opened at $41.28 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06. The firm has a market cap of $2.52 billion, a P/E ratio of 13.99, a PEG ratio of 1.48 and a beta of 1.15. First Interstate Bancsystem Inc has a 1 year low of $34.61 and a 1 year high of $47.05.
First Interstate Bancsystem (NASDAQ:FIBK) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). The firm had revenue of $150.50 million for the quarter, compared to the consensus estimate of $151.84 million. First Interstate Bancsystem had a return on equity of 10.91% and a net margin of 25.98%. On average, equities research analysts expect 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 will be paid on Thursday, May 23rd. Investors of record on Monday, May 13th will be issued a dividend of $0.31 per share. This is an increase from First Interstate Bancsystem’s previous quarterly dividend of $0.20. This represents a $1.24 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, May 10th. First Interstate Bancsystem’s dividend payout ratio is currently 42.47%.
Several research firms have commented on FIBK. BidaskClub raised shares of First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Zacks Investment Research downgraded shares of First Interstate Bancsystem from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. First Interstate Bancsystem presently has a consensus rating of “Hold” and a consensus target price of $45.65.
In related news, insider Philip G. Gaglia sold 2,112 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $42.20, for a total transaction 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 approximately $134,364.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jonathan R. Scott sold 15,670 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $41.14, for a total transaction of $644,663.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,986 shares of company stock valued at $826,645. 24.93% of the stock is owned by insiders.
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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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