Stone Ridge Asset Management LLC increased its position in First Interstate Bancsystem Inc (NASDAQ:FIBK) by 23.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 20,568 shares of the financial services provider’s stock after buying an additional 3,964 shares during the quarter. Stone Ridge Asset Management LLC’s holdings in First Interstate Bancsystem were worth $752,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Quantamental Technologies LLC purchased a new stake in First Interstate Bancsystem in the 4th quarter worth $26,000. Captrust Financial Advisors lifted its stake in First Interstate Bancsystem by 122.3% in the 4th quarter. Captrust Financial Advisors now owns 767 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 422 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in First Interstate Bancsystem by 19.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,479 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 411 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in First Interstate Bancsystem by 71.4% in the 4th quarter. Great West Life Assurance Co. Can now owns 3,760 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 1,566 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in First Interstate Bancsystem in the 3rd quarter worth $181,000. 49.56% of the stock is owned by institutional investors.

Shares of NASDAQ FIBK opened at $38.29 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $2.32 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 1.37 and a beta of 1.16. First Interstate Bancsystem Inc has a 12-month low of $34.61 and a 12-month high of $47.05.

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

In related news, Director Ross E. Leckie sold 2,204 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $42.13, for a total value of $92,854.52. Following the sale, the director now directly owns 17,027 shares of the company’s stock, valued at approximately $717,347.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan R. Scott sold 15,670 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $41.14, for a total transaction of $644,663.80. The disclosure for this sale can be found here. 24.93% of the stock is currently owned by corporate insiders.

FIBK has been the topic of several research analyst reports. BidaskClub upgraded shares of First Interstate Bancsystem from a “hold” rating to a “buy” rating in a research note on Wednesday, November 28th. Zacks Investment Research cut shares of First Interstate Bancsystem from a “hold” rating to a “sell” rating in a research note on Tuesday, December 25th. Finally, Stephens initiated coverage on shares of First Interstate Bancsystem in a research note on Monday, January 14th. They issued an “overweight” rating and a $37.90 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $47.15.

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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.

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

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