First Interstate Bancsystem Inc (NASDAQ:FIBK) Shares Purchased by Standard Life Aberdeen plc

Standard Life Aberdeen plc increased its holdings in First Interstate Bancsystem Inc (NASDAQ:FIBK) by 34.9% in the 4th quarter, HoldingsChannel reports. The fund owned 868,788 shares of the financial services provider’s stock after purchasing an additional 224,659 shares during the quarter. Standard Life Aberdeen plc’s holdings in First Interstate Bancsystem were worth $36,420,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp raised its position in First Interstate Bancsystem by 19.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,555,473 shares of the financial services provider’s stock valued at $65,205,000 after purchasing an additional 255,302 shares during the period. State Street Corp raised its holdings in First Interstate Bancsystem by 8.2% in the 4th quarter. State Street Corp now owns 996,598 shares of the financial services provider’s stock valued at $41,777,000 after buying an additional 75,857 shares during the period. Schroder Investment Management Group lifted its position in First Interstate Bancsystem by 10.0% in the fourth quarter. Schroder Investment Management Group now owns 963,075 shares of the financial services provider’s stock valued at $40,372,000 after buying an additional 87,313 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in First Interstate Bancsystem by 12.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 706,674 shares of the financial services provider’s stock valued at $29,623,000 after buying an additional 76,313 shares during the last quarter. Finally, Advisory Research Inc. boosted its stake in First Interstate Bancsystem by 65.6% during the fourth quarter. Advisory Research Inc. now owns 498,262 shares of the financial services provider’s stock worth $20,887,000 after buying an additional 197,442 shares during the period. Institutional investors own 50.29% of the company’s stock.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research report on Tuesday, December 31st. BidaskClub raised shares of First Interstate Bancsystem from a “strong sell” rating to a “sell” rating in a research report on Thursday, March 19th. TheStreet downgraded shares of First Interstate Bancsystem from a “b-” rating to a “c+” rating in a report on Wednesday, March 11th. Finally, DA Davidson reissued a “neutral” rating on shares of First Interstate Bancsystem in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $44.00.

First Interstate Bancsystem stock traded up $2.02 during midday trading on Thursday, reaching $28.52. 230,000 shares of the stock traded hands, compared to its average volume of 259,912. The firm has a market cap of $1.81 billion, a PE ratio of 10.04 and a beta of 1.10. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.05. The company has a 50-day simple moving average of $34.32 and a two-hundred day simple moving average of $39.53. First Interstate Bancsystem Inc has a 12-month low of $24.50 and a 12-month high of $43.83.

First Interstate Bancsystem (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.80. First Interstate Bancsystem had a net margin of 25.71% and a return on equity of 10.16%. The business had revenue of $165.40 million for the quarter, compared to analysts’ expectations of $165.13 million. Equities research analysts anticipate that First Interstate Bancsystem Inc will post 2.89 earnings per share for the current year.

The firm also recently announced a None dividend, which was paid on Thursday, March 12th. Investors of record on Monday, March 2nd were paid a dividend of $0.60 per share. This is an increase from First Interstate Bancsystem’s previous None dividend of $0.20. The ex-dividend date of this dividend was Friday, February 28th. First Interstate Bancsystem’s dividend payout ratio is presently 44.30%.

In other First Interstate Bancsystem news, EVP Russell A. Lee bought 1,000 shares of First Interstate Bancsystem stock in a transaction on Thursday, March 12th. The shares were bought at an average cost of $25.75 per share, for a total transaction of $25,750.00. Following the acquisition, the executive vice president now directly owns 4,076 shares in the company, valued at $104,957. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 24.93% of the stock is owned by corporate insiders.

First Interstate Bancsystem Company 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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