Wedge Capital Management L L P NC Sells 8,241 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Wedge Capital Management L L P NC lessened its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBKGet Rating) by 5.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,560 shares of the financial services provider’s stock after selling 8,241 shares during the period. Wedge Capital Management L L P NC owned about 0.14% of First Interstate BancSystem worth $5,738,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in First Interstate BancSystem by 116.2% during the 1st quarter. Vanguard Group Inc. now owns 7,747,094 shares of the financial services provider’s stock valued at $284,861,000 after acquiring an additional 4,163,577 shares during the period. BlackRock Inc. lifted its position in shares of First Interstate BancSystem by 61.3% during the first quarter. BlackRock Inc. now owns 8,710,578 shares of the financial services provider’s stock worth $320,287,000 after purchasing an additional 3,311,462 shares during the last quarter. State Street Corp grew its holdings in shares of First Interstate BancSystem by 152.8% in the first quarter. State Street Corp now owns 4,344,413 shares of the financial services provider’s stock worth $159,744,000 after purchasing an additional 2,626,221 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in First Interstate BancSystem by 133.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,510,999 shares of the financial services provider’s stock worth $129,101,000 after buying an additional 2,007,261 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in First Interstate BancSystem by 160.8% during the 1st quarter. Wellington Management Group LLP now owns 2,707,881 shares of the financial services provider’s stock valued at $99,569,000 after buying an additional 1,669,427 shares in the last quarter. Institutional investors own 84.37% of the company’s stock.

First Interstate BancSystem Trading Up 1.1 %

NASDAQ FIBK opened at $43.27 on Wednesday. The company’s 50-day simple moving average is $40.31 and its two-hundred day simple moving average is $37.85. First Interstate BancSystem, Inc. has a one year low of $32.40 and a one year high of $45.33. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 23.77 and a beta of 0.95. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.64 and a current ratio of 0.65.

First Interstate BancSystem (NASDAQ:FIBKGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.16). The business had revenue of $288.90 million for the quarter, compared to analysts’ expectations of $271.40 million. First Interstate BancSystem had a net margin of 14.93% and a return on equity of 8.43%. During the same period in the previous year, the business earned $0.69 earnings per share. Equities analysts forecast that First Interstate BancSystem, Inc. will post 3.05 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Tuesday, August 9th were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Monday, August 8th. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 90.11%.

Wall Street Analyst Weigh In

FIBK has been the topic of a number of research reports. TheStreet raised shares of First Interstate BancSystem from a “c” rating to a “b” rating in a research report on Monday, August 29th. StockNews.com upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.00.

Insider Activity at First Interstate BancSystem

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $40.71, for a total value of $40,710.00. Following the completion of the transaction, the director now directly owns 21,130 shares in the company, valued at $860,202.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder James R. Scott, Jr. sold 2,500 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $41.01, for a total transaction of $102,525.00. Following the completion of the sale, the insider now owns 102,936 shares in the company, valued at approximately $4,221,405.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John M. Heyneman, Jr. sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $40.71, for a total value of $40,710.00. Following the transaction, the director now owns 21,130 shares in the company, valued at $860,202.30. The disclosure for this sale can be found here. Insiders have sold a total of 12,400 shares of company stock valued at $508,114 over the last quarter. 6.40% of the stock is owned by corporate insiders.

First Interstate BancSystem Company Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for First Interstate BancSystem (NASDAQ:FIBK)

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