BlueCrest Capital Management Ltd Invests $389,000 in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

BlueCrest Capital Management Ltd purchased a new position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,450 shares of the financial services provider’s stock, valued at approximately $389,000.

A number of other large investors have also modified their holdings of FIBK. JPMorgan Chase & Co. boosted its stake in First Interstate BancSystem by 105.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,670,474 shares of the financial services provider’s stock worth $62,142,000 after purchasing an additional 858,775 shares during the period. Laurion Capital Management LP acquired a new stake in shares of First Interstate BancSystem in the 2nd quarter worth $23,962,000. Bank of New York Mellon Corp lifted its stake in shares of First Interstate BancSystem by 63.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,603,013 shares of the financial services provider’s stock worth $59,632,000 after acquiring an additional 620,854 shares during the period. Vanguard Group Inc. lifted its stake in shares of First Interstate BancSystem by 44.7% in the 1st quarter. Vanguard Group Inc. now owns 1,795,049 shares of the financial services provider’s stock worth $71,175,000 after acquiring an additional 554,418 shares during the period. Finally, Marshall Wace North America L.P. acquired a new stake in shares of First Interstate BancSystem in the 2nd quarter worth $17,468,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Several research firms have recently commented on FIBK. Zacks Investment Research upgraded shares of First Interstate BancSystem from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Tuesday, August 1st. ValuEngine cut shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. BidaskClub upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, Barclays PLC set a $43.00 target price on shares of First Interstate BancSystem and gave the stock a “buy” rating in a research note on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. First Interstate BancSystem presently has a consensus rating of “Hold” and an average price target of $42.50.

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Shares of First Interstate BancSystem, Inc. (FIBK) traded up 0.13% during mid-day trading on Friday, hitting $38.65. 9,390 shares of the company traded hands. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 18.70 and a beta of 1.17. First Interstate BancSystem, Inc. has a 52-week low of $30.70 and a 52-week high of $45.35. The firm has a 50-day moving average price of $37.20 and a 200 day moving average price of $37.00.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.03. First Interstate BancSystem had a net margin of 21.08% and a return on equity of 9.44%. The company had revenue of $116.50 million during the quarter, compared to the consensus estimate of $119.97 million. Equities research analysts anticipate that First Interstate BancSystem, Inc. will post $2.29 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Monday, October 30th. First Interstate BancSystem’s dividend payout ratio is presently 46.38%.

About First Interstate BancSystem

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.

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

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