Mutual of America Capital Management LLC lifted its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 180,609 shares of the financial services provider’s stock after buying an additional 3,196 shares during the quarter. Mutual of America Capital Management LLC owned about 0.32% of First Interstate BancSystem worth $6,908,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in FIBK. JPMorgan Chase & Co. grew its position in shares of First Interstate BancSystem by 105.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,670,474 shares of the financial services provider’s stock worth $62,142,000 after buying an additional 858,775 shares during the period. Laurion Capital Management LP acquired a new stake in First Interstate BancSystem in the 2nd quarter valued at $23,962,000. Bank of New York Mellon Corp grew its position in First Interstate BancSystem by 63.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,603,013 shares of the financial services provider’s stock valued at $59,632,000 after purchasing an additional 620,854 shares during the period. Koch Industries Inc. acquired a new stake in First Interstate BancSystem in the 2nd quarter valued at $584,000. Finally, Vanguard Group Inc. grew its position in First Interstate BancSystem by 44.7% in the 1st quarter. Vanguard Group Inc. now owns 1,795,049 shares of the financial services provider’s stock valued at $71,175,000 after purchasing an additional 554,418 shares during the period. 44.85% of the stock is owned by institutional investors.

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First Interstate BancSystem, Inc. (FIBK) traded up 1.57% during mid-day trading on Friday, reaching $38.80. 196,403 shares of the company traded hands. The company’s 50-day moving average is $36.99 and its 200-day moving average is $37.03. First Interstate BancSystem, Inc. has a 12-month low of $30.70 and a 12-month high of $45.35. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 18.77 and a beta of 1.17.

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. The company had revenue of $116.50 million for the quarter, compared to analysts’ expectations of $119.97 million. First Interstate BancSystem had a return on equity of 9.44% and a net margin of 21.08%. Equities analysts predict that First Interstate BancSystem, Inc. will post $2.29 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 31st will be paid a $0.24 dividend. The ex-dividend date is Monday, October 30th. This represents a $0.96 annualized dividend and a yield of 2.47%. First Interstate BancSystem’s payout ratio is 46.38%.

Several analysts recently issued reports on FIBK shares. Barclays PLC set a $43.00 price target on shares of First Interstate BancSystem and gave the company a “buy” rating in a research report on Wednesday, October 11th. Zacks Investment Research downgraded shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. ValuEngine downgraded shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Finally, BidaskClub downgraded shares of First Interstate BancSystem from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $42.50.

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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