First Interstate BancSystem, Inc. $FIBK Shares Sold by Invesco Ltd.

Invesco Ltd. trimmed its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 72.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 334,773 shares of the financial services provider’s stock after selling 866,879 shares during the quarter. Invesco Ltd. owned about 0.32% of First Interstate BancSystem worth $9,591,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Wolverine Asset Management LLC acquired a new stake in shares of First Interstate BancSystem during the first quarter worth about $596,000. Deutsche Bank AG grew its stake in First Interstate BancSystem by 0.7% during the 1st quarter. Deutsche Bank AG now owns 70,065 shares of the financial services provider’s stock worth $2,007,000 after buying an additional 455 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in First Interstate BancSystem by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,114,913 shares of the financial services provider’s stock worth $31,942,000 after buying an additional 8,131 shares during the last quarter. US Bancorp DE increased its position in First Interstate BancSystem by 75.8% during the first quarter. US Bancorp DE now owns 12,159 shares of the financial services provider’s stock worth $348,000 after buying an additional 5,244 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in First Interstate BancSystem by 9.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,414 shares of the financial services provider’s stock worth $929,000 after buying an additional 2,707 shares during the period. Institutional investors and hedge funds own 88.71% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FIBK. Wells Fargo & Company increased their price objective on First Interstate BancSystem from $25.00 to $28.00 and gave the company an “underweight” rating in a report on Thursday, July 10th. Wall Street Zen downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Monday, August 11th. Barclays raised shares of First Interstate BancSystem from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $28.00 to $32.00 in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods upgraded shares of First Interstate BancSystem from a “hold” rating to a “moderate buy” rating and set a $32.00 price objective on the stock in a research note on Monday, June 23rd. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $35.43.

First Interstate BancSystem Stock Up 6.5%

FIBK opened at $31.99 on Monday. The business has a 50 day moving average price of $29.54 and a two-hundred day moving average price of $28.61. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.19. The company has a market cap of $3.35 billion, a PE ratio of 14.41 and a beta of 0.83. First Interstate BancSystem, Inc. has a 52 week low of $22.95 and a 52 week high of $36.77.

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

First Interstate BancSystem Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Monday, August 11th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend was Monday, August 11th. First Interstate BancSystem’s payout ratio is currently 84.68%.

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.