Schwab Charles Investment Management Inc. boosted its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 7.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,056 shares of the financial services provider’s stock after buying an additional 8,422 shares during the period. Schwab Charles Investment Management Inc.’s holdings in First Interstate BancSystem were worth $4,761,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sei Investments Co. boosted its position in shares of 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 worth $125,000 after buying an additional 168 shares during the last quarter. Fifth Third Bancorp bought a new position in shares of First Interstate BancSystem during the first quarter worth approximately $216,000. Stevens Capital Management LP bought a new position in shares of First Interstate BancSystem during the first quarter worth approximately $218,000. Advisors Asset Management Inc. boosted its position in shares of First Interstate BancSystem by 829.0% in the first quarter. Advisors Asset Management Inc. now owns 6,029 shares of the financial services provider’s stock worth $239,000 after buying an additional 5,380 shares during the last quarter. Finally, Wrapmanager Inc. boosted its position in shares of First Interstate BancSystem by 5.1% in the first quarter. Wrapmanager Inc. now owns 6,105 shares of the financial services provider’s stock worth $242,000 after buying an additional 297 shares during the last quarter. Institutional investors own 38.69% of the company’s stock.

First Interstate BancSystem, Inc. (NASDAQ:FIBK) traded down 1.12% on Friday, reaching $35.45. The company’s stock had a trading volume of 322,349 shares. First Interstate BancSystem, Inc. has a 52-week low of $29.55 and a 52-week high of $45.35. The firm has a market cap of $2.00 billion, a PE ratio of 17.18 and a beta of 1.15. The stock’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 announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. The firm had revenue of $116.50 million for the quarter, compared to analyst estimates of $119.97 million. First Interstate BancSystem had a return on equity of 9.44% and a net margin of 21.08%. Equities research analysts expect that First Interstate BancSystem, Inc. will post $2.29 earnings per share for the current fiscal year.

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

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A number of research analysts recently commented on the company. Zacks Investment Research cut First Interstate BancSystem from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. BidaskClub cut First Interstate BancSystem from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Keefe, Bruyette & Woods set a $43.00 price target on First Interstate BancSystem and gave the stock a “hold” rating in a research report on Saturday, May 27th. Piper Jaffray Companies restated an “overweight” rating and issued a $43.00 price target (down previously from $44.00) on shares of First Interstate BancSystem in a research report on Thursday, June 1st. Finally, Barclays PLC restated an “overweight” rating and issued a $41.00 price target on shares of First Interstate BancSystem in a research report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $42.00.

About First Interstate BancSystem

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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