New York State Common Retirement Fund decreased its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 10.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,661 shares of the financial services provider’s stock after selling 7,371 shares during the quarter. New York State Common Retirement Fund owned about 0.10% of First Interstate BancSystem worth $2,523,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FORA Capital LLC acquired a new position in shares of First Interstate BancSystem in the second quarter valued at $51,000. Rockefeller Capital Management L.P. boosted its holdings in shares of First Interstate BancSystem by 119.2% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 2,600 shares of the financial services provider’s stock worth $108,000 after buying an additional 1,414 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of First Interstate BancSystem by 16.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 5,592 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 805 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of First Interstate BancSystem during the 2nd quarter valued at $241,000. Finally, Atom Investors LP purchased a new stake in First Interstate BancSystem in the 2nd quarter worth about $243,000. 51.36% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Kevin P. Riley acquired 2,880 shares of the business’s stock in a transaction on Monday, December 13th. The stock was bought at an average cost of $39.39 per share, for a total transaction of $113,443.20. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Philip G. Gaglia sold 1,350 shares of the business’s stock in a transaction that occurred on Thursday, November 18th. The stock was sold at an average price of $43.51, for a total value of $58,738.50. The disclosure for this sale can be found here. Insiders bought a total of 3,880 shares of company stock worth $155,358 over the last quarter. Company insiders own 21.99% of the company’s stock.
A number of research firms recently weighed in on FIBK. Wells Fargo & Company dropped their target price on First Interstate BancSystem from $47.00 to $45.00 and set an “overweight” rating for the company in a research report on Tuesday, January 4th. Zacks Investment Research cut First Interstate BancSystem from a “buy” rating to a “hold” rating in a research note on Wednesday, January 5th.
NASDAQ:FIBK opened at $44.52 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.69 and a quick ratio of 0.69. First Interstate BancSystem, Inc. has a 12-month low of $37.23 and a 12-month high of $51.24. The stock’s 50-day simple moving average is $41.60. The stock has a market capitalization of $2.77 billion, a PE ratio of 14.64 and a beta of 1.11.
First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data on Monday, October 25th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76. First Interstate BancSystem had a return on equity of 9.89% and a net margin of 28.45%. The business had revenue of $166.60 million during the quarter, compared to analyst estimates of $159.64 million. During the same period last year, the company earned $0.76 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. Research analysts predict that First Interstate BancSystem, Inc. will post 3.18 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 18th. Stockholders of record on Monday, November 8th were issued a $0.41 dividend. The ex-dividend date was Friday, November 5th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.68%. First Interstate BancSystem’s dividend payout ratio is presently 53.95%.
First Interstate BancSystem Company Profile
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.
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