UBS Group AG Increases Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

UBS Group AG grew its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK – Get Rating) by 149.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,887 shares of the financial services provider’s stock after purchasing an additional 38,231 shares during the quarter. UBS Group AG owned about 0.06% of First Interstate BancSystem worth $2,578,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Handelsbanken Fonder AB lifted its position in First Interstate BancSystem by 2.0% during the third quarter. Handelsbanken Fonder AB now owns 15,553 shares of the financial services provider’s stock worth $628,000 after buying an additional 300 shares in the last quarter. Strs Ohio increased its stake in shares of First Interstate BancSystem by 3.8% in the 3rd quarter. Strs Ohio now owns 8,100 shares of the financial services provider’s stock worth $326,000 after acquiring an additional 300 shares during the last quarter. American International Group Inc. raised its holdings in shares of First Interstate BancSystem by 0.8% during the 2nd quarter. American International Group Inc. now owns 43,861 shares of the financial services provider’s stock worth $1,672,000 after acquiring an additional 349 shares during the period. Captrust Financial Advisors boosted its position in shares of First Interstate BancSystem by 14.1% during the 2nd quarter. Captrust Financial Advisors now owns 3,288 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 407 shares during the last quarter. Finally, Advisor Group Holdings Inc. grew its holdings in shares of First Interstate BancSystem by 5.7% in the first quarter. Advisor Group Holdings Inc. now owns 7,822 shares of the financial services provider’s stock valued at $288,000 after purchasing an additional 422 shares during the period. 77.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FIBK shares. Stephens raised shares of First Interstate BancSystem from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $44.00 to $43.00 in a research note on Wednesday, February 1st. Keefe, Bruyette & Woods lowered First Interstate BancSystem from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $49.00 to $38.00 in a research report on Monday, January 30th. Janney Montgomery Scott downgraded First Interstate BancSystem from a “buy” rating to a “neutral” rating in a research report on Monday, January 30th. Finally, Wells Fargo & Company lowered their price target on First Interstate BancSystem from $48.00 to $42.00 and set an “overweight” rating for the company in a report on Monday, January 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, First Interstate BancSystem currently has an average rating of “Hold” and a consensus target price of $43.80.

Insider Activity

In other First Interstate BancSystem news, CEO Kevin P. Riley sold 2,500 shares of the stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $41.45, for a total value of $103,625.00. Following the sale, the chief executive officer now owns 48,549 shares of the company’s stock, valued at approximately $2,012,356.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director James Brannen sold 9,300 shares of the business’s stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $36.71, for a total value of $341,403.00. Following the completion of the sale, the director now directly owns 8,385 shares of the company’s stock, valued at approximately $307,813.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin P. Riley sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 7th. The shares were sold at an average price of $41.45, for a total value of $103,625.00. Following the sale, the chief executive officer now directly owns 48,549 shares of the company’s stock, valued at $2,012,356.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 299,800 shares of company stock worth $10,706,468. Corporate insiders own 6.40% of the company’s stock.

First Interstate BancSystem Trading Up 1.6 %

Shares of NASDAQ FIBK opened at $35.13 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.66 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $3.67 billion, a PE ratio of 18.99 and a beta of 0.86. First Interstate BancSystem, Inc. has a twelve month low of $32.40 and a twelve month high of $46.34. The stock has a fifty day simple moving average of $37.29 and a 200-day simple moving average of $40.31.

First Interstate BancSystem Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 17th. Shareholders of record on Tuesday, February 7th were paid a $0.47 dividend. The ex-dividend date was Monday, February 6th. This represents a $1.88 annualized dividend and a dividend yield of 5.35%. First Interstate BancSystem’s dividend payout ratio (DPR) is 101.62%.

First Interstate BancSystem Company Profile

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First Interstate BancSystem, Inc is a financial holding company, which engages in the provision of community banking solutions. The firm offers commercial and consumer banking services to individuals, businesses, municipalities, and other entities. It also provides Internet, mobile, and other banking and financial services.