Alps Advisors Inc. Acquires Shares of 10,473 First Interstate Bancsystem Inc (FIBK)

Alps Advisors Inc. acquired a new stake in First Interstate Bancsystem Inc (NASDAQ:FIBK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 10,473 shares of the financial services provider’s stock, valued at approximately $469,000.

A number of other large investors also recently modified their holdings of the stock. Victory Capital Management Inc. lifted its stake in First Interstate Bancsystem by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 10,521 shares of the financial services provider’s stock valued at $444,000 after purchasing an additional 1,445 shares during the last quarter. Xact Kapitalforvaltning AB lifted its stake in First Interstate Bancsystem by 40.5% in the 1st quarter. Xact Kapitalforvaltning AB now owns 7,630 shares of the financial services provider’s stock valued at $302,000 after purchasing an additional 2,200 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in First Interstate Bancsystem by 31.8% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 10,790 shares of the financial services provider’s stock valued at $455,000 after purchasing an additional 2,605 shares during the last quarter. MetLife Investment Advisors LLC lifted its stake in First Interstate Bancsystem by 30.3% in the 2nd quarter. MetLife Investment Advisors LLC now owns 15,279 shares of the financial services provider’s stock valued at $645,000 after purchasing an additional 3,557 shares during the last quarter. Finally, UBS Group AG lifted its stake in First Interstate Bancsystem by 23.2% in the 1st quarter. UBS Group AG now owns 21,406 shares of the financial services provider’s stock valued at $847,000 after purchasing an additional 4,027 shares during the last quarter. 50.17% of the stock is owned by institutional investors and hedge funds.

In other news, Director Ross E. Leckie sold 4,000 shares of the stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $45.91, for a total transaction of $183,640.00. Following the completion of the sale, the director now directly owns 17,599 shares in the company, valued at $807,970.09. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Kevin P. Riley acquired 975 shares of the firm’s stock in a transaction dated Wednesday, October 31st. The shares were purchased at an average price of $41.78 per share, with a total value of $40,735.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 7,000 shares of company stock valued at $300,210. Corporate insiders own 40.23% of the company’s stock.

Shares of NASDAQ FIBK opened at $42.73 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.07. First Interstate Bancsystem Inc has a 52-week low of $36.00 and a 52-week high of $47.05. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 1.62 and a beta of 1.10.

First Interstate Bancsystem (NASDAQ:FIBK) last announced its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.04). First Interstate Bancsystem had a net margin of 23.86% and a return on equity of 10.88%. The business had revenue of $146.20 million during the quarter, compared to analyst estimates of $144.93 million. As a group, research analysts expect that First Interstate Bancsystem Inc will post 2.93 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Friday, November 9th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.62%. The ex-dividend date is Thursday, November 8th. First Interstate Bancsystem’s dividend payout ratio (DPR) is currently 55.72%.

Several equities analysts have issued reports on FIBK shares. BidaskClub cut shares of First Interstate Bancsystem from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 29th. Zacks Investment Research upgraded shares of First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Monday, July 30th. Barclays restated a “buy” rating and issued a $48.00 price target on shares of First Interstate Bancsystem in a research report on Sunday, July 29th. DA Davidson upped their price target on shares of First Interstate Bancsystem from $47.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, October 12th. Finally, Robert W. Baird started coverage on shares of First Interstate Bancsystem in a research report on Tuesday, October 16th. They issued an “outperform” rating and a $52.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $48.33.

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About First Interstate Bancsystem

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.

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

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