Bank of New York Mellon Corp cut its holdings in First Interstate Bancsystem Inc (NASDAQ:FIBK) by 33.0% during the 4th quarter, HoldingsChannel reports. The fund owned 1,719,012 shares of the financial services provider’s stock after selling 848,197 shares during the period. Bank of New York Mellon Corp’s holdings in First Interstate Bancsystem were worth $62,848,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in FIBK. Swiss National Bank lifted its holdings in shares of First Interstate Bancsystem by 38.8% during the 3rd quarter. Swiss National Bank now owns 64,383 shares of the financial services provider’s stock valued at $2,884,000 after buying an additional 18,000 shares during the period. First Trust Advisors LP lifted its holdings in shares of First Interstate Bancsystem by 3.9% during the 3rd quarter. First Trust Advisors LP now owns 143,703 shares of the financial services provider’s stock valued at $6,438,000 after buying an additional 5,375 shares during the period. Jane Street Group LLC bought a new position in shares of First Interstate Bancsystem during the 3rd quarter valued at $563,000. Stone Ridge Asset Management LLC lifted its holdings in shares of First Interstate Bancsystem by 23.0% during the 3rd quarter. Stone Ridge Asset Management LLC now owns 16,604 shares of the financial services provider’s stock valued at $744,000 after buying an additional 3,105 shares during the period. Finally, MetLife Investment Advisors LLC lifted its holdings in shares of First Interstate Bancsystem by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 23,706 shares of the financial services provider’s stock valued at $1,062,000 after buying an additional 8,427 shares during the period. 49.59% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Ross E. Leckie sold 2,204 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $42.13, for a total value of $92,854.52. Following the transaction, the director now directly owns 17,027 shares of the company’s stock, valued at approximately $717,347.51. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jonathan R. Scott sold 15,670 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $41.14, for a total value of $644,663.80. The disclosure for this sale can be found here. 40.23% of the stock is currently owned by company insiders.

Several equities analysts have recently weighed in on FIBK shares. Zacks Investment Research raised First Interstate Bancsystem from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Stephens started coverage on First Interstate Bancsystem in a report on Monday, January 14th. They set an “overweight” rating and a $37.90 price target on the stock. Finally, BidaskClub raised First Interstate Bancsystem from a “hold” rating to a “buy” rating in a report on Wednesday, November 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. First Interstate Bancsystem currently has an average rating of “Hold” and an average price target of $47.15.

NASDAQ FIBK opened at $41.97 on Friday. First Interstate Bancsystem Inc has a 1-year low of $34.61 and a 1-year high of $47.05. The firm has a market cap of $2.54 billion, a PE ratio of 14.37, a PEG ratio of 1.50 and a beta of 1.16. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06.

First Interstate Bancsystem (NASDAQ:FIBK) last announced its earnings results on Wednesday, January 30th. The financial services provider reported $0.76 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.76. First Interstate Bancsystem had a return on equity of 10.93% and a net margin of 25.98%. The company had revenue of $153.20 million for the quarter, compared to analysts’ expectations of $151.76 million. As a group, analysts forecast that First Interstate Bancsystem Inc will post 3.1 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, February 21st. Investors of record on Monday, February 11th were issued a $0.31 dividend. This is a boost from First Interstate Bancsystem’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Friday, February 8th. First Interstate Bancsystem’s dividend payout ratio (DPR) is currently 42.47%.

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First Interstate Bancsystem 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.

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

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