Hillcrest Asset Management LLC lessened its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 2.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 270,800 shares of the financial services provider’s stock after selling 6,732 shares during the period. First Interstate BancSystem accounts for 1.9% of Hillcrest Asset Management LLC’s holdings, making the stock its 22nd biggest holding. Hillcrest Asset Management LLC owned about 0.48% of First Interstate BancSystem worth $10,358,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in First Interstate BancSystem by 28.0% in the second quarter. Vanguard Group Inc. now owns 2,298,523 shares of the financial services provider’s stock valued at $85,505,000 after purchasing an additional 503,474 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in First Interstate BancSystem by 26.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,890 shares of the financial services provider’s stock valued at $81,762,000 after purchasing an additional 463,695 shares in the last quarter. JPMorgan Chase & Co. increased its stake in First Interstate BancSystem by 105.8% in the second quarter. JPMorgan Chase & Co. now owns 1,670,474 shares of the financial services provider’s stock valued at $62,142,000 after purchasing an additional 858,775 shares in the last quarter. Bank of New York Mellon Corp increased its stake in First Interstate BancSystem by 63.2% in the second 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 in the last quarter. Finally, Macquarie Group Ltd. increased its stake in First Interstate BancSystem by 35.0% in the second quarter. Macquarie Group Ltd. now owns 1,290,929 shares of the financial services provider’s stock valued at $48,023,000 after purchasing an additional 334,425 shares in the last quarter. 46.07% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have weighed in 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 note on Wednesday, October 11th. Zacks Investment Research raised shares of First Interstate BancSystem from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Wednesday, November 1st. ValuEngine downgraded shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Finally, BidaskClub downgraded shares of First Interstate BancSystem from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. First Interstate BancSystem presently has a consensus rating of “Buy” and an average target price of $43.25.

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First Interstate BancSystem, Inc. (NASDAQ:FIBK) traded down $0.25 during trading hours on Monday, hitting $36.60. 190,300 shares of the stock traded hands, compared to its average volume of 224,886. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $2,065.85, a P/E ratio of 15.84, a PEG ratio of 1.73 and a beta of 1.19. First Interstate BancSystem, Inc. has a one year low of $33.33 and a one year high of $45.35.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Monday, October 30th. First Interstate BancSystem’s payout ratio is presently 48.24%.

In other news, Director Ross E. Leckie sold 1,500 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $38.85, for a total transaction of $58,275.00. Following the completion of the sale, the director now directly owns 23,028 shares of the company’s stock, valued at $894,637.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 2,822 shares of company stock valued at $104,709. 38.22% of the stock is currently owned by insiders.

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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