Renaissance Technologies LLC Buys 239,219 Shares of First Interstate BancSystem, Inc. (FIBK)

Renaissance Technologies LLC lifted its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 65.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 603,919 shares of the financial services provider’s stock after purchasing an additional 239,219 shares during the quarter. Renaissance Technologies LLC owned about 1.07% of First Interstate BancSystem worth $22,466,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Suntrust Banks Inc. boosted its holdings in shares of First Interstate BancSystem by 589.8% in the 2nd quarter. Suntrust Banks Inc. now owns 42,200 shares of the financial services provider’s stock worth $1,569,000 after purchasing an additional 36,082 shares during the period. Quantbot Technologies LP boosted its holdings in shares of First Interstate BancSystem by 955.6% in the 2nd quarter. Quantbot Technologies LP now owns 3,019 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 2,733 shares during the period. California Public Employees Retirement System boosted its holdings in shares of First Interstate BancSystem by 53.3% in the 2nd quarter. California Public Employees Retirement System now owns 42,769 shares of the financial services provider’s stock worth $1,591,000 after purchasing an additional 14,869 shares during the period. Vanguard Group Inc. boosted its holdings in shares of First Interstate BancSystem by 28.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,298,523 shares of the financial services provider’s stock worth $85,505,000 after purchasing an additional 503,474 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of First Interstate BancSystem by 18.7% in the 2nd quarter. Northern Trust Corp now owns 439,183 shares of the financial services provider’s stock worth $16,338,000 after purchasing an additional 69,213 shares during the period. Hedge funds and other institutional investors own 44.85% of the company’s stock.

A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded First Interstate BancSystem from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Tuesday, August 1st. Barclays PLC restated an “overweight” rating and set a $41.00 price objective on shares of First Interstate BancSystem in a report on Tuesday, June 13th. ValuEngine cut First Interstate BancSystem from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Finally, BidaskClub upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $42.00.

First Interstate BancSystem, Inc. (NASDAQ FIBK) opened at 38.85 on Wednesday. First Interstate BancSystem, Inc. has a 12-month low of $30.70 and a 12-month high of $45.35. The company’s 50-day moving average price is $36.33 and its 200-day moving average price is $37.06. The stock has a market cap of $2.19 billion, a PE ratio of 18.80 and a beta of 1.17.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. First Interstate BancSystem had a return on equity of 9.44% and a net margin of 21.08%. The business had revenue of $116.50 million during the quarter, compared to analyst estimates of $119.97 million. On average, equities analysts expect that First Interstate BancSystem, Inc. will post $2.29 EPS for the current fiscal year.

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First Interstate BancSystem Profile

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.

Institutional Ownership by Quarter for First Interstate BancSystem (NASDAQ:FIBK)

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