First Interstate Bancsystem Inc (FIBK) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC raised its holdings in First Interstate Bancsystem Inc (NASDAQ:FIBK) by 24.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 529,419 shares of the financial services provider’s stock after acquiring an additional 105,000 shares during the quarter. Renaissance Technologies LLC owned approximately 0.93% of First Interstate Bancsystem worth $22,341,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Bank of New York Mellon Corp grew its position in First Interstate Bancsystem by 3.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,525,997 shares of the financial services provider’s stock valued at $106,597,000 after acquiring an additional 87,106 shares during the last quarter. BlackRock Inc. grew its position in First Interstate Bancsystem by 22.5% in the 2nd quarter. BlackRock Inc. now owns 2,055,836 shares of the financial services provider’s stock valued at $86,756,000 after acquiring an additional 377,376 shares during the last quarter. Millennium Management LLC grew its position in First Interstate Bancsystem by 38.2% in the 1st quarter. Millennium Management LLC now owns 925,836 shares of the financial services provider’s stock valued at $36,617,000 after acquiring an additional 255,808 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in First Interstate Bancsystem by 14.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 532,227 shares of the financial services provider’s stock valued at $22,460,000 after acquiring an additional 68,075 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its position in First Interstate Bancsystem by 1.1% in the 1st quarter. Bahl & Gaynor Inc. now owns 456,987 shares of the financial services provider’s stock valued at $18,073,000 after acquiring an additional 4,988 shares during the last quarter. 49.94% of the stock is currently owned by institutional investors.

In other First Interstate Bancsystem news, Director Ross E. Leckie sold 4,000 shares of the stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $45.91, for a total value of $183,640.00. Following the completion of the sale, the director now directly owns 17,599 shares in the company, valued at $807,970.09. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John M. Heyneman, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $41.87, for a total value of $41,870.00. Following the completion of the sale, the director now owns 3,621 shares of the company’s stock, valued at $151,611.27. The disclosure for this sale can be found here. Insiders have sold a total of 7,000 shares of company stock worth $300,210 in the last three months. Corporate insiders own 40.23% of the company’s stock.

Several equities analysts have commented on the company. BidaskClub downgraded First Interstate Bancsystem from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 30th. Zacks Investment Research downgraded First Interstate Bancsystem from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. Barclays reaffirmed a “buy” rating and issued a $48.00 price objective on shares of First Interstate Bancsystem in a research report on Sunday, July 29th. Finally, ValuEngine downgraded First Interstate Bancsystem from a “buy” rating to a “hold” rating in a research report on Monday, June 11th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $47.00.

FIBK opened at $45.70 on Monday. First Interstate Bancsystem Inc has a 12-month low of $36.00 and a 12-month high of $47.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market cap of $2.59 billion, a PE ratio of 22.74, a PEG ratio of 1.71 and a beta of 1.10.

First Interstate Bancsystem (NASDAQ:FIBK) last posted its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. First Interstate Bancsystem had a return on equity of 10.35% and a net margin of 23.86%. The business had revenue of $141.40 million for the quarter, compared to the consensus estimate of $139.12 million. equities analysts expect that First Interstate Bancsystem Inc will post 2.98 EPS for the current 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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