UBS Group AG decreased its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 10.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,379 shares of the financial services provider’s stock after selling 1,634 shares during the period. UBS Group AG’s holdings in First Interstate BancSystem were worth $530,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in FIBK. Advisors Asset Management Inc. boosted its stake in First Interstate BancSystem by 829.0% in the first quarter. Advisors Asset Management Inc. now owns 6,029 shares of the financial services provider’s stock valued at $239,000 after buying an additional 5,380 shares during the last quarter. First Trust Advisors LP boosted its stake in First Interstate BancSystem by 9.4% in the first quarter. First Trust Advisors LP now owns 39,640 shares of the financial services provider’s stock valued at $1,572,000 after buying an additional 3,403 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in First Interstate BancSystem by 3.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 12,297 shares of the financial services provider’s stock valued at $488,000 after buying an additional 432 shares during the last quarter. Wrapmanager Inc. boosted its stake in First Interstate BancSystem by 5.1% in the first quarter. Wrapmanager Inc. now owns 6,105 shares of the financial services provider’s stock valued at $242,000 after buying an additional 297 shares during the last quarter. Finally, Chicago Equity Partners LLC boosted its stake in First Interstate BancSystem by 46.3% in the first quarter. Chicago Equity Partners LLC now owns 86,175 shares of the financial services provider’s stock valued at $3,417,000 after buying an additional 27,275 shares during the last quarter. 38.73% of the stock is owned by institutional investors and hedge funds.
First Interstate BancSystem, Inc. (NASDAQ:FIBK) opened at 36.55 on Thursday. The firm has a 50-day moving average price of $37.03 and a 200 day moving average price of $39.18. First Interstate BancSystem, Inc. has a one year low of $28.57 and a one year high of $45.35. The firm has a market capitalization of $1.65 billion, a PE ratio of 16.69 and a beta of 1.15.
First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.02. First Interstate BancSystem had a return on equity of 9.99% and a net margin of 22.60%. The company had revenue of $98 million during the quarter, compared to the consensus estimate of $105.22 million. Analysts anticipate that First Interstate BancSystem, Inc. will post $2.28 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Wednesday, August 2nd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Monday, July 31st. First Interstate BancSystem’s payout ratio is currently 43.84%.
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Several research firms recently weighed in on FIBK. Zacks Investment Research cut First Interstate BancSystem from a “strong-buy” rating to a “hold” rating in a report on Monday, May 1st. Barclays PLC reissued an “overweight” rating and set a $41.00 price target on shares of First Interstate BancSystem in a report on Tuesday, June 13th. BidaskClub raised First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Wells Fargo & Company raised First Interstate BancSystem from a “market perform” rating to an “outperform” rating in a report on Friday, June 2nd. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $43.00 price objective (down from $44.00) on shares of First Interstate BancSystem in a report on Thursday, June 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $42.75.
About First Interstate BancSystem
First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.
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