First Interstate Bancsystem Inc (FIBK) Holdings Trimmed by Renaissance Technologies LLC

Renaissance Technologies LLC cut its holdings in shares of First Interstate Bancsystem Inc (NASDAQ:FIBK) by 22.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 380,519 shares of the financial services provider’s stock after selling 109,000 shares during the period. Renaissance Technologies LLC owned approximately 0.67% of First Interstate Bancsystem worth $15,240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of FIBK. Raymond James Financial Services Advisors Inc. bought a new stake in shares of First Interstate Bancsystem in the third quarter valued at about $238,000. BNP Paribas Arbitrage SA lifted its holdings in shares of First Interstate Bancsystem by 116.1% in the third quarter. BNP Paribas Arbitrage SA now owns 6,417 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 3,447 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of First Interstate Bancsystem by 3.4% in the third quarter. Rhumbline Advisers now owns 44,834 shares of the financial services provider’s stock valued at $1,715,000 after purchasing an additional 1,490 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of First Interstate Bancsystem by 62.3% in the third quarter. Advisors Asset Management Inc. now owns 14,971 shares of the financial services provider’s stock valued at $573,000 after purchasing an additional 5,746 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of First Interstate Bancsystem in the third quarter valued at about $105,000. Institutional investors own 46.08% of the company’s stock.

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NASDAQ:FIBK opened at $39.55 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market capitalization of $2,234.06, a P/E ratio of 17.12, a P/E/G ratio of 1.48 and a beta of 1.12. First Interstate Bancsystem Inc has a 52-week low of $33.33 and a 52-week high of $42.90.

First Interstate Bancsystem (NASDAQ:FIBK) last released its earnings results on Tuesday, January 30th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.08). The company had revenue of $138.03 million during the quarter, compared to analyst estimates of $138.00 million. First Interstate Bancsystem had a net margin of 20.50% and a return on equity of 9.10%. analysts anticipate that First Interstate Bancsystem Inc will post 2.97 earnings per share for the current year.

FIBK has been the topic of a number of research reports. Piper Jaffray restated a “buy” rating on shares of First Interstate Bancsystem in a report on Wednesday, January 31st. Zacks Investment Research lowered First Interstate Bancsystem from a “buy” rating to a “hold” rating in a report on Monday, March 12th. Barclays boosted their price target on First Interstate Bancsystem from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $45.00 price target on shares of First Interstate Bancsystem in a report on Friday, December 22nd. Finally, Sandler O’Neill restated a “buy” rating and issued a $46.00 price target on shares of First Interstate Bancsystem in a report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. First Interstate Bancsystem presently has a consensus rating of “Hold” and an average target price of $45.00.

In related news, major shareholder Thomas W. Scott sold 250,000 shares of First Interstate Bancsystem stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $39.50, for a total value of $9,875,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James R. Scott, Jr. sold 6,100 shares of First Interstate Bancsystem stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $40.07, for a total value of $244,427.00. Following the completion of the sale, the director now directly owns 23,412 shares in the company, valued at approximately $938,118.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 269,050 shares of company stock worth $10,643,897. 40.23% of the stock is owned by company insiders.

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First Interstate Bancsystem Company 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.

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

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