Russell Investments Group Ltd. Has $11.52 Million Stake in First Interstate Bancsystem Inc (NASDAQ:FIBK)

Russell Investments Group Ltd. raised its holdings in First Interstate Bancsystem Inc (NASDAQ:FIBK) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 286,337 shares of the financial services provider’s stock after acquiring an additional 7,331 shares during the period. Russell Investments Group Ltd.’s holdings in First Interstate Bancsystem were worth $11,522,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Point72 Asset Management L.P. acquired a new position in First Interstate Bancsystem in the second quarter valued at about $83,000. Baker Ellis Asset Management LLC acquired a new position in First Interstate Bancsystem in the second quarter valued at about $135,000. Bank of Montreal Can boosted its position in shares of First Interstate Bancsystem by 191.2% during the second quarter. Bank of Montreal Can now owns 4,744 shares of the financial services provider’s stock worth $188,000 after buying an additional 3,115 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of First Interstate Bancsystem by 94.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,051 shares of the financial services provider’s stock worth $200,000 after buying an additional 2,451 shares during the period. Finally, Pinkerton Retirement Specialists LLC acquired a new position in shares of First Interstate Bancsystem during the second quarter worth about $204,000. 49.05% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Ross E. Leckie sold 3,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $40.60, for a total transaction of $121,800.00. Following the completion of the transaction, the director now directly owns 14,027 shares of the company’s stock, valued at $569,496.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ross E. Leckie sold 1,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $42.95, for a total value of $42,950.00. Following the transaction, the director now directly owns 13,927 shares of the company’s stock, valued at $598,164.65. The disclosure for this sale can be found here. Insiders have sold 9,297 shares of company stock valued at $390,489 over the last ninety days. 24.93% of the stock is owned by insiders.

Shares of FIBK stock traded up $0.08 on Wednesday, hitting $42.78. 168,000 shares of the stock were exchanged, compared to its average volume of 194,120. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.79 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18. The business has a 50-day moving average of $41.48 and a 200 day moving average of $39.86. First Interstate Bancsystem Inc has a fifty-two week low of $34.61 and a fifty-two week high of $43.97.

First Interstate Bancsystem (NASDAQ:FIBK) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.03). The firm had revenue of $166.30 million for the quarter, compared to analyst estimates of $167.38 million. First Interstate Bancsystem had a return on equity of 10.21% and a net margin of 24.33%. As a group, research analysts forecast that First Interstate Bancsystem Inc will post 3.05 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Saturday, November 9th will be given a dividend of $0.31 per share. This is a boost from First Interstate Bancsystem’s previous quarterly dividend of $0.20. This represents a $1.24 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Thursday, November 7th. First Interstate Bancsystem’s dividend payout ratio is currently 42.47%.

Several research firms have recently weighed in on FIBK. Zacks Investment Research raised First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. BidaskClub raised First Interstate Bancsystem from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Finally, ValuEngine raised First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $42.48.

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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