Sei Investments Co. trimmed its stake in shares of First Interstate Bancsystem Inc (NASDAQ:FIBK) by 35.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,521 shares of the financial services provider’s stock after selling 5,146 shares during the quarter. Sei Investments Co.’s holdings in First Interstate Bancsystem were worth $402,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in FIBK. Wells Fargo & Company MN boosted its position in shares of First Interstate Bancsystem by 42.1% in the second quarter. Wells Fargo & Company MN now owns 243,814 shares of the financial services provider’s stock valued at $10,288,000 after acquiring an additional 72,228 shares during the period. UBS Group AG boosted its position in shares of First Interstate Bancsystem by 23.2% in the first quarter. UBS Group AG now owns 21,406 shares of the financial services provider’s stock valued at $847,000 after acquiring an additional 4,027 shares during the period. Victory Capital Management Inc. boosted its position in shares of First Interstate Bancsystem by 15.9% in the second quarter. Victory Capital Management Inc. now owns 10,521 shares of the financial services provider’s stock valued at $444,000 after acquiring an additional 1,445 shares during the period. Suntrust Banks Inc. boosted its position in shares of First Interstate Bancsystem by 4.9% in the first quarter. Suntrust Banks Inc. now owns 47,379 shares of the financial services provider’s stock valued at $1,873,000 after acquiring an additional 2,200 shares during the period. Finally, Quantitative Systematic Strategies LLC bought a new stake in shares of First Interstate Bancsystem in the first quarter valued at about $230,000. 49.96% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on FIBK. BidaskClub raised shares of First Interstate Bancsystem from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 7th. Zacks Investment Research downgraded First Interstate Bancsystem from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. ValuEngine raised First Interstate Bancsystem from a “hold” rating to a “buy” rating in a research note on Tuesday, May 22nd. Finally, Barclays reaffirmed a “buy” rating and issued a $48.00 price target on shares of First Interstate Bancsystem in a research note on Sunday, July 29th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $47.00.

FIBK stock opened at $46.20 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market capitalization of $2.59 billion, a P/E ratio of 22.99, a P/E/G ratio of 1.71 and a beta of 1.10. First Interstate Bancsystem Inc has a 52 week low of $35.05 and a 52 week high of $47.05.

First Interstate Bancsystem (NASDAQ:FIBK) last issued its earnings results on Wednesday, July 25th. The financial services provider reported $0.74 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.74. The firm had revenue of $141.40 million during the quarter, compared to the consensus estimate of $139.12 million. First Interstate Bancsystem had a return on equity of 10.35% and a net margin of 23.86%. sell-side analysts predict that First Interstate Bancsystem Inc will post 2.98 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 21st. Shareholders of record on Friday, August 10th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Thursday, August 9th. First Interstate Bancsystem’s payout ratio is 55.72%.

In other First Interstate Bancsystem news, Director John M. Heyneman, Jr. sold 1,000 shares of the business’s stock in a transaction dated Wednesday, December 12th. The stock was sold at an average price of $41.87, for a total transaction of $41,870.00. Following the completion of the transaction, the director now owns 3,621 shares of the company’s stock, valued at $151,611.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John M. Heyneman, Jr. sold 2,000 shares of the business’s stock in a transaction dated Sunday, November 25th. The stock was sold at an average price of $37.35, for a total value of $74,700.00. Following the sale, the director now owns 3,621 shares in the company, valued at $135,244.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,000 shares of company stock valued at $300,210. Insiders own 40.23% of the company’s stock.

First Interstate Bancsystem Company Profile

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.

Featured Story: Average Daily Trade Volume – What You Need to Know

Want to see what other hedge funds are holding FIBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Interstate Bancsystem Inc (NASDAQ:FIBK).

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

Receive News & Ratings for First Interstate Bancsystem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Interstate Bancsystem and related companies with MarketBeat.com's FREE daily email newsletter.