Cypress Capital Management LLC WY Has $2.17 Million Stock Holdings in First Interstate BancSystem, Inc. $FIBK

Cypress Capital Management LLC WY reduced its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 31.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,950 shares of the financial services provider’s stock after selling 30,825 shares during the period. First Interstate BancSystem comprises 2.2% of Cypress Capital Management LLC WY’s investment portfolio, making the stock its 13th largest holding. Cypress Capital Management LLC WY owned approximately 0.06% of First Interstate BancSystem worth $2,166,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. State Street Corp grew its holdings in First Interstate BancSystem by 2.3% during the 2nd quarter. State Street Corp now owns 4,050,473 shares of the financial services provider’s stock worth $116,735,000 after acquiring an additional 92,715 shares during the last quarter. HoldCo Asset Management LP acquired a new position in shares of First Interstate BancSystem during the second quarter worth $102,890,000. Geode Capital Management LLC grew its stake in shares of First Interstate BancSystem by 7.1% in the second quarter. Geode Capital Management LLC now owns 2,179,093 shares of the financial services provider’s stock worth $62,809,000 after purchasing an additional 144,800 shares during the last quarter. Jennison Associates LLC increased its holdings in First Interstate BancSystem by 2.6% in the second quarter. Jennison Associates LLC now owns 1,555,385 shares of the financial services provider’s stock valued at $44,826,000 after purchasing an additional 39,412 shares during the period. Finally, Bank of America Corp DE increased its holdings in First Interstate BancSystem by 5.6% in the second quarter. Bank of America Corp DE now owns 1,432,561 shares of the financial services provider’s stock valued at $41,286,000 after purchasing an additional 75,850 shares during the period. Institutional investors own 88.71% of the company’s stock.

Insider Activity

In related news, Director John M. Heyneman, Jr. sold 30,432 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $31.03, for a total transaction of $944,304.96. Following the transaction, the director directly owned 1,414,636 shares of the company’s stock, valued at approximately $43,896,155.08. This represents a 2.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Jonathan R. Scott sold 4,800 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $31.27, for a total value of $150,096.00. Following the completion of the transaction, the insider owned 941,024 shares in the company, valued at approximately $29,425,820.48. The trade was a 0.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 60,232 shares of company stock worth $1,914,116. Company insiders own 8.20% of the company’s stock.

First Interstate BancSystem Price Performance

Shares of FIBK opened at $36.86 on Wednesday. The firm has a market cap of $3.79 billion, a PE ratio of 15.55 and a beta of 0.80. First Interstate BancSystem, Inc. has a 52-week low of $22.95 and a 52-week high of $38.78. The business’s 50 day moving average price is $35.17 and its two-hundred day moving average price is $32.65. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.73 and a current ratio of 0.74.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.69 earnings per share for the quarter. The company had revenue of $250.50 million during the quarter. First Interstate BancSystem had a net margin of 17.62% and a return on equity of 7.25%. On average, equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

Wall Street Analysts Forecast Growth

FIBK has been the topic of a number of analyst reports. UBS Group reiterated a “neutral” rating and issued a $37.00 price target on shares of First Interstate BancSystem in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods lifted their price objective on First Interstate BancSystem from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Wall Street Zen cut First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of First Interstate BancSystem in a research report on Monday, December 29th. Finally, Barclays boosted their price target on shares of First Interstate BancSystem from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Friday, December 19th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $37.29.

About First Interstate BancSystem

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.