Metropolitan Life Insurance Co. NY continued to hold its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,127 shares of the financial services provider’s stock at the end of the first quarter. Metropolitan Life Insurance Co. NY’s holdings in First Interstate BancSystem were worth $520,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Sei Investments Co. increased its stake in First Interstate BancSystem by 5.6% in the first quarter. Sei Investments Co. now owns 3,154 shares of the financial services provider’s stock valued at $125,000 after buying an additional 168 shares during the period. Wrapmanager Inc. increased its stake in First Interstate BancSystem by 5.1% in the first quarter. Wrapmanager Inc. now owns 6,105 shares of the financial services provider’s stock valued at $242,000 after buying an additional 297 shares during the period. American Century Companies Inc. increased its stake in First Interstate BancSystem by 0.6% in the first quarter. American Century Companies Inc. now owns 61,377 shares of the financial services provider’s stock valued at $2,434,000 after buying an additional 359 shares during the period. Granite Investment Partners LLC increased its stake in First Interstate BancSystem by 1.4% in the first quarter. Granite Investment Partners LLC now owns 29,160 shares of the financial services provider’s stock valued at $1,156,000 after buying an additional 416 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its stake in First Interstate BancSystem by 3.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 12,297 shares of the financial services provider’s stock valued at $488,000 after buying an additional 432 shares during the period. Institutional investors own 38.69% of the company’s stock.

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) traded down 1.12% during trading on Friday, hitting $35.45. The stock had a trading volume of 322,349 shares. First Interstate BancSystem, Inc. has a 12 month low of $29.55 and a 12 month high of $45.35. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 17.18 and a beta of 1.15. The company’s 50 day moving average price is $36.75 and its 200 day moving average price is $38.79.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.03. First Interstate BancSystem had a return on equity of 9.44% and a net margin of 21.08%. The company had revenue of $116.50 million for the quarter, compared to the consensus estimate of $119.97 million. Equities research analysts expect that First Interstate BancSystem, Inc. will post $2.29 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Wednesday, August 2nd were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, July 31st. This represents a $0.96 annualized dividend and a yield of 2.71%. First Interstate BancSystem’s dividend payout ratio (DPR) is 46.38%.

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Several research firms have recently weighed in on FIBK. BidaskClub downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Keefe, Bruyette & Woods set a $43.00 target price on First Interstate BancSystem and gave the stock a “hold” rating in a research report on Saturday, May 27th. Zacks Investment Research upgraded First Interstate BancSystem from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Tuesday, August 1st. Barclays PLC reiterated an “overweight” rating and set a $41.00 target price on shares of First Interstate BancSystem in a research report on Tuesday, June 13th. Finally, Wells Fargo & Company upgraded First Interstate BancSystem from a “market perform” rating to an “outperform” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. First Interstate BancSystem currently has a consensus rating of “Buy” and an average target price of $42.00.

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.

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

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