First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 97.0% in the third quarter, Holdings Channel.com reports. The fund owned 31,779 shares of the financial services provider’s stock after purchasing an additional 15,649 shares during the period. BNP Paribas Financial Markets’ holdings in First Interstate BancSystem were worth $975,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FIBK. Dimensional Fund Advisors LP raised its position in shares of First Interstate BancSystem by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider’s stock worth $127,204,000 after purchasing an additional 367,212 shares during the last quarter. Jennison Associates LLC raised its position in shares of First Interstate BancSystem by 57.3% during the 3rd quarter. Jennison Associates LLC now owns 885,802 shares of the financial services provider’s stock worth $27,176,000 after purchasing an additional 322,578 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in shares of First Interstate BancSystem during the 2nd quarter worth approximately $3,003,000. Quest Partners LLC raised its position in shares of First Interstate BancSystem by 1,115.4% during the 3rd quarter. Quest Partners LLC now owns 82,998 shares of the financial services provider’s stock worth $2,546,000 after purchasing an additional 76,169 shares during the last quarter. Finally, Edgestream Partners L.P. raised its position in shares of First Interstate BancSystem by 98.7% during the 2nd quarter. Edgestream Partners L.P. now owns 116,628 shares of the financial services provider’s stock worth $3,239,000 after purchasing an additional 57,938 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

First Interstate BancSystem Trading Down 0.9 %

Shares of FIBK opened at $33.95 on Wednesday. The stock has a fifty day moving average of $32.51 and a two-hundred day moving average of $30.13. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $3.55 billion, a PE ratio of 14.89 and a beta of 0.84. First Interstate BancSystem, Inc. has a fifty-two week low of $24.16 and a fifty-two week high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same quarter in the previous year, the firm earned $0.70 EPS. As a group, analysts forecast that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, November 4th. This represents a $1.88 annualized dividend and a dividend yield of 5.54%. First Interstate BancSystem’s dividend payout ratio is presently 82.46%.

Insider Activity

In other news, Director Jonathan R. Scott sold 6,500 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total transaction of $222,170.00. Following the completion of the sale, the director now directly owns 958,710 shares of the company’s stock, valued at $32,768,707.80. The trade was a 0.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $34.50, for a total transaction of $209,311.50. Following the sale, the insider now directly owns 75,387 shares of the company’s stock, valued at $2,600,851.50. This represents a 7.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,837 shares of company stock valued at $1,839,583 in the last ninety days. Company insiders own 6.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their price objective on First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Wells Fargo & Company boosted their price target on First Interstate BancSystem from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. DA Davidson upgraded First Interstate BancSystem from a “neutral” rating to a “buy” rating and boosted their price target for the company from $32.00 to $42.00 in a report on Tuesday, November 26th. Finally, Barclays boosted their price target on First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.17.

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. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.