First Interstate Bancsystem Inc (NASDAQ:FIBK) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 971,000 shares, a growth of 14.0% from the July 31st total of 851,400 shares. Based on an average daily volume of 193,400 shares, the days-to-cover ratio is currently 5.0 days. Currently, 2.3% of the company’s shares are short sold.

In related news, Director Ross E. Leckie sold 3,000 shares of First Interstate Bancsystem stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $40.60, for a total value of $121,800.00. Following the transaction, the director now owns 14,027 shares of the company’s stock, valued at approximately $569,496.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ross E. Leckie sold 1,219 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $39.27, for a total value of $47,870.13. Following the sale, the director now owns 17,027 shares of the company’s stock, valued at $668,650.29. The disclosure for this sale can be found here. Company insiders own 24.93% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Swiss National Bank lifted its holdings in shares of First Interstate Bancsystem by 14.1% during the 2nd quarter. Swiss National Bank now owns 75,283 shares of the financial services provider’s stock valued at $2,982,000 after buying an additional 9,300 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of First Interstate Bancsystem by 41.7% during the 2nd quarter. Wells Fargo & Company MN now owns 323,239 shares of the financial services provider’s stock valued at $12,804,000 after buying an additional 95,117 shares during the last quarter. Granite Investment Partners LLC lifted its holdings in shares of First Interstate Bancsystem by 52.1% during the 2nd quarter. Granite Investment Partners LLC now owns 43,335 shares of the financial services provider’s stock valued at $1,716,000 after buying an additional 14,835 shares during the last quarter. Monarch Partners Asset Management LLC lifted its holdings in shares of First Interstate Bancsystem by 5.8% during the 2nd quarter. Monarch Partners Asset Management LLC now owns 299,201 shares of the financial services provider’s stock valued at $11,851,000 after buying an additional 16,500 shares during the last quarter. Finally, Baker Ellis Asset Management LLC acquired a new stake in shares of First Interstate Bancsystem during the 2nd quarter valued at about $135,000. Hedge funds and other institutional investors own 49.15% of the company’s stock.

NASDAQ FIBK traded up $0.25 during trading on Friday, reaching $40.77. 181,911 shares of the company’s stock were exchanged, compared to its average volume of 171,308. First Interstate Bancsystem has a fifty-two week low of $34.61 and a fifty-two week high of $46.85. The firm has a market capitalization of $2.64 billion, a PE ratio of 13.96, a P/E/G ratio of 1.47 and a beta of 1.19. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.05. The company’s fifty day simple moving average is $39.00 and its 200-day simple moving average is $39.77.

First Interstate Bancsystem (NASDAQ:FIBK) last announced its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.73 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.02). First Interstate Bancsystem had a return on equity of 10.24% and a net margin of 24.08%. The business had revenue of $164.70 million for the quarter, compared to analyst estimates of $163.66 million. Equities analysts forecast that First Interstate Bancsystem will post 3.06 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Thursday, August 8th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This is a positive change from First Interstate Bancsystem’s previous quarterly dividend of $0.20. This represents a $1.24 dividend on an annualized basis and a yield of 3.04%. First Interstate Bancsystem’s dividend payout ratio (DPR) is presently 42.47%.

A number of brokerages have commented on FIBK. BidaskClub lowered First Interstate Bancsystem from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Zacks Investment Research upgraded First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, ValuEngine lowered First Interstate Bancsystem from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. First Interstate Bancsystem presently has a consensus rating of “Hold” and an average target price of $43.98.

About First Interstate Bancsystem

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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