Macquarie Group Ltd. lowered its stake in shares of First Interstate Bancsystem Inc (NASDAQ:FIBK) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 937,455 shares of the financial services provider’s stock after selling 13,496 shares during the period. Macquarie Group Ltd. owned approximately 2.08% of First Interstate Bancsystem worth $39,889,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of First Interstate Bancsystem by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,683,753 shares of the financial services provider’s stock valued at $71,644,000 after buying an additional 35,058 shares in the last quarter. LSV Asset Management raised its position in First Interstate Bancsystem by 3.5% in the third quarter. LSV Asset Management now owns 572,597 shares of the financial services provider’s stock worth $18,042,000 after buying an additional 19,400 shares during the period. Assetmark Inc. raised its position in First Interstate Bancsystem by 354.9% in the third quarter. Assetmark Inc. now owns 534,525 shares of the financial services provider’s stock worth $16,843,000 after buying an additional 417,024 shares during the period. State Street Corp raised its position in First Interstate Bancsystem by 17.7% in the fourth quarter. State Street Corp now owns 463,639 shares of the financial services provider’s stock worth $19,726,000 after buying an additional 69,681 shares during the period. Finally, Prudential Financial Inc. raised its position in First Interstate Bancsystem by 1.8% in the third quarter. Prudential Financial Inc. now owns 422,213 shares of the financial services provider’s stock worth $13,304,000 after buying an additional 7,470 shares during the period. Institutional investors own 34.08% of the company’s stock.
First Interstate Bancsystem Inc (NASDAQ:FIBK) traded up 1.45% during trading on Thursday, reaching $38.60. The company had a trading volume of 49,087 shares. The firm has a market capitalization of $1.74 billion, a P/E ratio of 18.12 and a beta of 1.03. First Interstate Bancsystem Inc has a 52 week low of $26.43 and a 52 week high of $45.35. The stock has a 50 day moving average price of $40.33 and a 200 day moving average price of $38.91.
First Interstate Bancsystem (NASDAQ:FIBK) last released its quarterly earnings data on Thursday, January 26th. The financial services provider reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. The firm had revenue of $108.42 million for the quarter, compared to the consensus estimate of $103.27 million. First Interstate Bancsystem had a net margin of 22.52% and a return on equity of 9.84%. Analysts predict that First Interstate Bancsystem Inc will post $2.34 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 12th. Investors of record on Tuesday, May 2nd will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Friday, April 28th. First Interstate Bancsystem’s dividend payout ratio is currently 45.07%.
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Separately, Zacks Investment Research upgraded First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Thursday, January 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $37.00.
In related news, CEO Kevin P. Riley acquired 6,918 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The shares were purchased at an average price of $42.78 per share, with a total value of $295,952.04. Following the completion of the acquisition, the chief executive officer now owns 34,920 shares in the company, valued at $1,493,877.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Randall I. Scott sold 5,049 shares of the business’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $40.07, for a total transaction of $202,313.43. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,094 shares of company stock worth $244,859. 38.22% of the stock is owned by insiders.
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 operates through community banking segment.
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