Deutsche Bank AG Has $915,000 Position in First Interstate Bancsystem Inc (FIBK)

Deutsche Bank AG lowered its position in shares of First Interstate Bancsystem Inc (NASDAQ:FIBK) by 63.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,075 shares of the financial services provider’s stock after selling 43,727 shares during the period. Deutsche Bank AG’s holdings in First Interstate Bancsystem were worth $915,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in First Interstate Bancsystem by 19.2% during the fourth quarter. Geode Capital Management LLC now owns 450,659 shares of the financial services provider’s stock worth $16,476,000 after purchasing an additional 72,720 shares in the last quarter. FMR LLC raised its holdings in First Interstate Bancsystem by 150.2% during the fourth quarter. FMR LLC now owns 1,340,663 shares of the financial services provider’s stock worth $49,014,000 after purchasing an additional 804,884 shares in the last quarter. Millennium Management LLC raised its holdings in First Interstate Bancsystem by 20.1% during the fourth quarter. Millennium Management LLC now owns 751,741 shares of the financial services provider’s stock worth $27,484,000 after purchasing an additional 125,944 shares in the last quarter. Legal & General Group Plc raised its holdings in First Interstate Bancsystem by 18.0% during the fourth quarter. Legal & General Group Plc now owns 6,318 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 963 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its holdings in First Interstate Bancsystem by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,790 shares of the financial services provider’s stock worth $394,000 after purchasing an additional 8,427 shares in the last quarter. Hedge funds and other institutional investors own 48.28% of the company’s stock.

In other First Interstate Bancsystem news, insider Philip G. Gaglia sold 2,112 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $42.20, for a total value of $89,126.40. Following the completion of the transaction, the insider now directly owns 3,184 shares of the company’s stock, valued at $134,364.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jonathan R. Scott sold 15,670 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $41.14, for a total transaction of $644,663.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,986 shares of company stock valued at $826,645. 24.93% of the stock is currently owned by corporate insiders.

Shares of First Interstate Bancsystem stock opened at $39.53 on Thursday. First Interstate Bancsystem Inc has a 12-month low of $34.61 and a 12-month high of $47.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 1.40 and a beta of 1.15.

First Interstate Bancsystem (NASDAQ:FIBK) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). First Interstate Bancsystem had a net margin of 25.84% and a return on equity of 10.69%. The company had revenue of $150.50 million during the quarter, compared to analysts’ expectations of $151.84 million. As a group, sell-side analysts predict that First Interstate Bancsystem Inc will post 3.12 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Monday, May 13th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, May 10th. This is a boost from First Interstate Bancsystem’s previous quarterly dividend of $0.20. This represents a $1.24 dividend on an annualized basis and a yield of 3.14%. First Interstate Bancsystem’s dividend payout ratio (DPR) is 42.47%.

Several research analysts recently issued reports on FIBK shares. Piper Jaffray Companies set a $47.00 price target on shares of First Interstate Bancsystem and gave the stock a “buy” rating in a report on Tuesday, April 9th. Zacks Investment Research raised shares of First Interstate Bancsystem from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. BidaskClub raised shares of First Interstate Bancsystem from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Finally, Robert W. Baird began coverage on shares of First Interstate Bancsystem in a report on Wednesday, April 10th. They issued a “neutral” rating and a $42.00 target price for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $45.65.

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First Interstate Bancsystem Profile

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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