CS Mckee LP boosted its holdings in First Interstate Bancsystem Inc (NASDAQ:FIBK) by 31.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,750 shares of the financial services provider’s stock after acquiring an additional 8,000 shares during the period. CS Mckee LP owned about 0.06% of First Interstate Bancsystem worth $1,291,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of First Interstate Bancsystem during the third quarter valued at approximately $105,000. BNP Paribas Arbitrage SA raised its holdings in shares of First Interstate Bancsystem by 622.6% during the second quarter. BNP Paribas Arbitrage SA now owns 2,970 shares of the financial services provider’s stock valued at $110,000 after buying an additional 2,559 shares during the last quarter. Quantbot Technologies LP raised its holdings in shares of First Interstate Bancsystem by 955.6% during the second quarter. Quantbot Technologies LP now owns 3,019 shares of the financial services provider’s stock valued at $112,000 after buying an additional 2,733 shares during the last quarter. Brandywine Global Investment Management LLC bought a new stake in shares of First Interstate Bancsystem during the second quarter valued at approximately $142,000. Finally, Victory Capital Management Inc. raised its holdings in shares of First Interstate Bancsystem by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,531 shares of the financial services provider’s stock valued at $169,000 after buying an additional 680 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Ross E. Leckie sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $38.85, for a total transaction of $58,275.00. Following the sale, the director now owns 23,028 shares of the company’s stock, valued at $894,637.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Homer A. Scott, Jr. sold 10,100 shares of the business’s stock in a transaction that occurred on Saturday, November 4th. The stock was sold at an average price of $28.46, for a total value of $287,446.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,025 shares of company stock worth $4,179,439. 38.22% of the stock is owned by corporate insiders.
FIBK has been the topic of a number of recent analyst reports. ValuEngine cut First Interstate Bancsystem from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Barclays set a $43.00 price target on First Interstate Bancsystem and gave the company a “buy” rating in a report on Wednesday, October 11th. Finally, Zacks Investment Research raised First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. First Interstate Bancsystem presently has a consensus rating of “Hold” and a consensus target price of $43.25.
Shares of First Interstate Bancsystem Inc (FIBK) opened at $39.35 on Tuesday. First Interstate Bancsystem Inc has a twelve month low of $33.33 and a twelve month high of $45.35. The company has a market capitalization of $2,232.79, a P/E ratio of 17.12, a P/E/G ratio of 1.88 and a beta of 1.18. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.08.
The company also recently announced a quarterly dividend, which was paid on Monday, November 13th. Investors of record on Tuesday, October 31st were issued a dividend of $0.24 per share. The ex-dividend date was Monday, October 30th. This represents a $0.96 annualized dividend and a yield of 2.44%. First Interstate Bancsystem’s payout ratio is 48.24%.
TRADEMARK VIOLATION NOTICE: This article was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this article on another publication, it was copied illegally and reposted in violation of US and international copyright laws. The original version of this article can be read at https://www.dispatchtribunal.com/2017/12/12/cs-mckee-lp-acquires-8000-shares-of-first-interstate-bancsystem-inc-fibk.html.
First Interstate Bancsystem Profile
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.
Receive News & Ratings for First Interstate Bancsystem Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Interstate Bancsystem Inc and related companies with MarketBeat.com's FREE daily email newsletter.