Deutsche Bank AG Purchases 455 Shares of First Interstate BancSystem, Inc. $FIBK

Deutsche Bank AG increased its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 0.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,065 shares of the financial services provider’s stock after purchasing an additional 455 shares during the period. Deutsche Bank AG owned 0.07% of First Interstate BancSystem worth $2,007,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in First Interstate BancSystem by 7.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,872 shares of the financial services provider’s stock valued at $385,000 after acquiring an additional 807 shares in the last quarter. Wood Tarver Financial Group LLC purchased a new position in shares of First Interstate BancSystem in the 4th quarter worth $26,000. JNBA Financial Advisors purchased a new position in shares of First Interstate BancSystem in the 1st quarter worth $29,000. Naples Global Advisors LLC grew its stake in shares of First Interstate BancSystem by 12.5% in the 1st quarter. Naples Global Advisors LLC now owns 9,510 shares of the financial services provider’s stock worth $272,000 after buying an additional 1,060 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of First Interstate BancSystem by 26.4% in the 1st quarter. KBC Group NV now owns 5,079 shares of the financial services provider’s stock worth $146,000 after buying an additional 1,061 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors.

Insider Transactions at First Interstate BancSystem

In related news, Director John M. Heyneman, Jr. sold 11,818 shares of First Interstate BancSystem stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $30.18, for a total transaction of $356,667.24. Following the completion of the sale, the director owned 5,224 shares in the company, valued at $157,660.32. This trade represents a 69.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Susan Scott Heyneman Trust, Su sold 55,000 shares of First Interstate BancSystem stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $27.86, for a total transaction of $1,532,300.00. Following the sale, the insider owned 529,256 shares of the company’s stock, valued at $14,745,072.16. The trade was a 9.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,818 shares of company stock valued at $3,600,017 in the last quarter. 8.20% of the stock is currently owned by company insiders.

First Interstate BancSystem Price Performance

FIBK stock opened at $30.03 on Friday. First Interstate BancSystem, Inc. has a 12 month low of $22.95 and a 12 month high of $36.77. The company has a 50-day moving average price of $29.43 and a 200 day moving average price of $28.67. The stock has a market cap of $3.15 billion, a PE ratio of 13.53 and a beta of 0.83. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.19.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.12. First Interstate BancSystem had a net margin of 16.04% and a return on equity of 6.82%. The company had revenue of $248.30 million during the quarter, compared to analyst estimates of $253.73 million. During the same quarter last year, the business posted $0.58 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities research analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Monday, August 11th were issued a dividend of $0.47 per share. The ex-dividend date was Monday, August 11th. This represents a $1.88 dividend on an annualized basis and a yield of 6.3%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 84.68%.

Wall Street Analyst Weigh In

FIBK has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price objective on shares of First Interstate BancSystem from $25.00 to $28.00 and gave the stock an “underweight” rating in a research note on Thursday, July 10th. Barclays raised shares of First Interstate BancSystem from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $28.00 to $32.00 in a research note on Tuesday, July 8th. Wall Street Zen cut shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Monday, August 11th. Finally, Keefe, Bruyette & Woods raised shares of First Interstate BancSystem from a “hold” rating to a “moderate buy” rating and set a $32.00 price objective for the company in a research note on Monday, June 23rd. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, First Interstate BancSystem has an average rating of “Hold” and a consensus target price of $35.43.

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