First Interstate BancSystem, Inc. (NASDAQ:FIBK) Stock Position Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,936,868 shares of the financial services provider’s stock after purchasing an additional 107,774 shares during the quarter. JPMorgan Chase & Co. owned about 2.81% of First Interstate BancSystem worth $95,360,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FIBK. Victory Capital Management Inc. raised its stake in First Interstate BancSystem by 309.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,270,296 shares of the financial services provider’s stock valued at $41,247,000 after acquiring an additional 960,372 shares in the last quarter. Jennison Associates LLC grew its holdings in First Interstate BancSystem by 73.9% during the fourth quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider’s stock worth $50,020,000 after acquiring an additional 654,688 shares during the period. Vanguard Group Inc. raised its holdings in shares of First Interstate BancSystem by 6.8% in the 4th quarter. Vanguard Group Inc. now owns 9,229,785 shares of the financial services provider’s stock worth $299,691,000 after purchasing an additional 587,975 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of First Interstate BancSystem in the fourth quarter valued at $10,451,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of First Interstate BancSystem by 37,734.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 141,502 shares of the financial services provider’s stock valued at $4,595,000 after purchasing an additional 141,128 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

Insiders Place Their Bets

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $32.56, for a total value of $43,467.60. Following the sale, the director now directly owns 1,414,886 shares in the company, valued at $46,068,688.16. This trade represents a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 6.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FIBK shares. Stephens reduced their price objective on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. StockNews.com raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Barclays increased their target price on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the stock an “underweight” rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods boosted their price target on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, DA Davidson reiterated a “buy” rating and set a $42.00 price objective on shares of First Interstate BancSystem in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $36.14.

First Interstate BancSystem Trading Up 1.2 %

NASDAQ:FIBK opened at $28.72 on Thursday. The company’s 50 day moving average is $30.68 and its 200-day moving average is $31.70. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem, Inc. has a 12 month low of $24.16 and a 12 month high of $36.77. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 13.11 and a beta of 0.84.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. Equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.88 annualized dividend and a yield of 6.55%. First Interstate BancSystem’s payout ratio is 85.84%.

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