National Asset Management Inc. lessened its holdings in First Interstate Bancsystem Inc (NASDAQ:FIBK) by 7.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,000 shares of the financial services provider’s stock after selling 1,500 shares during the quarter. National Asset Management Inc.’s holdings in First Interstate Bancsystem were worth $728,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of First Interstate Bancsystem by 5.1% in the third quarter. Dimensional Fund Advisors LP now owns 2,309,818 shares of the financial services provider’s stock valued at $88,349,000 after acquiring an additional 111,928 shares during the period. Vanguard Group Inc. lifted its position in First Interstate Bancsystem by 28.0% during the second quarter. Vanguard Group Inc. now owns 2,298,523 shares of the financial services provider’s stock worth $85,505,000 after purchasing an additional 503,474 shares during the period. Bank of New York Mellon Corp lifted its position in First Interstate Bancsystem by 43.0% during the third quarter. Bank of New York Mellon Corp now owns 2,291,679 shares of the financial services provider’s stock worth $87,657,000 after purchasing an additional 688,666 shares during the period. Macquarie Group Ltd. lifted its position in First Interstate Bancsystem by 46.0% during the third quarter. Macquarie Group Ltd. now owns 1,885,343 shares of the financial services provider’s stock worth $72,114,000 after purchasing an additional 594,414 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in First Interstate Bancsystem by 105.8% during the second quarter. JPMorgan Chase & Co. now owns 1,670,474 shares of the financial services provider’s stock worth $62,142,000 after purchasing an additional 858,775 shares during the period. 45.31% of the stock is owned by institutional investors.

In other First Interstate Bancsystem news, major shareholder Homer A. Scott, Jr. sold 10,100 shares of the business’s stock in a transaction dated Saturday, November 4th. The stock was sold at an average price of $28.46, for a total transaction of $287,446.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan R. Scott sold 25,000 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $36.81, for a total value of $920,250.00. Following the transaction, the director now directly owns 5,556 shares of the company’s stock, valued at approximately $204,516.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,032 shares of company stock valued at $4,177,785. Insiders own 38.22% of the company’s stock.

First Interstate Bancsystem Inc (FIBK) opened at $40.05 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market capitalization of $2,229.97, a PE ratio of 17.10, a price-to-earnings-growth ratio of 1.88 and a beta of 1.18. First Interstate Bancsystem Inc has a 52 week low of $33.33 and a 52 week high of $45.35.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.40%. The ex-dividend date was Monday, October 30th. First Interstate Bancsystem’s payout ratio is 48.24%.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Wednesday, November 1st. ValuEngine cut shares of First Interstate Bancsystem from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Finally, Barclays set a $43.00 price objective on shares of First Interstate Bancsystem and gave the stock a “buy” rating in a research report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $43.25.

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First Interstate Bancsystem Company Profile

First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.

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

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