Victory Capital Management Inc. Has $63.40 Million Position in First Interstate BancSystem, Inc. $FIBK

Victory Capital Management Inc. decreased its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,989,203 shares of the financial services provider’s stock after selling 34,874 shares during the period. Victory Capital Management Inc. owned 1.90% of First Interstate BancSystem worth $63,396,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. AQR Capital Management LLC grew its position in shares of First Interstate BancSystem by 37.2% in the first quarter. AQR Capital Management LLC now owns 67,214 shares of the financial services provider’s stock valued at $1,926,000 after purchasing an additional 18,210 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of First Interstate BancSystem by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,230 shares of the financial services provider’s stock valued at $1,353,000 after acquiring an additional 2,070 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of First Interstate BancSystem in the first quarter valued at approximately $238,000. Jones Financial Companies Lllp grew its stake in shares of First Interstate BancSystem by 24,352.5% in the first quarter. Jones Financial Companies Lllp now owns 24,697 shares of the financial services provider’s stock worth $708,000 after acquiring an additional 24,596 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in First Interstate BancSystem during the 1st quarter valued at $5,125,000. Institutional investors own 88.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FIBK. Stephens downgraded shares of First Interstate BancSystem from an “overweight” rating to an “equal weight” rating in a report on Thursday, February 5th. Keefe, Bruyette & Woods increased their target price on shares of First Interstate BancSystem from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Weiss Ratings upgraded First Interstate BancSystem from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Barclays reduced their price objective on First Interstate BancSystem from $38.00 to $36.00 and set an “equal weight” rating for the company in a research report on Friday, January 30th. Finally, Wall Street Zen lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Sunday, February 15th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, First Interstate BancSystem currently has an average rating of “Hold” and a consensus price target of $38.17.

First Interstate BancSystem Price Performance

Shares of FIBK stock opened at $35.00 on Friday. The stock’s fifty day simple moving average is $36.68 and its 200 day simple moving average is $33.93. First Interstate BancSystem, Inc. has a one year low of $22.95 and a one year high of $39.26. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 11.86 and a beta of 0.77. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.72 and a quick ratio of 0.72.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.44. First Interstate BancSystem had a return on equity of 8.83% and a net margin of 21.40%.The company had revenue of $205.10 million during the quarter, compared to analysts’ expectations of $256.89 million. During the same period last year, the business earned $0.50 earnings per share. The business’s revenue was up 19.8% on a year-over-year basis. On average, analysts expect that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Tuesday, February 10th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $1.88 annualized dividend and a dividend yield of 5.4%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 63.73%.

Insider Buying and Selling at First Interstate BancSystem

In other news, major shareholder Jonathan R. Scott sold 1,827 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $36.92, for a total value of $67,452.84. Following the transaction, the insider directly owned 936,024 shares of the company’s stock, valued at $34,558,006.08. The trade was a 0.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.20% of the company’s stock.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.