New York State Common Retirement Fund Has $872,000 Stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

New York State Common Retirement Fund increased its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 14.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,866 shares of the financial services provider’s stock after purchasing an additional 3,300 shares during the quarter. New York State Common Retirement Fund’s holdings in First Interstate BancSystem were worth $872,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of First Interstate BancSystem by 20.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 12,874 shares of the financial services provider’s stock valued at $395,000 after acquiring an additional 2,169 shares in the last quarter. Versor Investments LP acquired a new position in shares of First Interstate BancSystem in the third quarter valued at approximately $914,000. Empower Advisory Group LLC raised its stake in shares of First Interstate BancSystem by 4.8% during the third quarter. Empower Advisory Group LLC now owns 466,687 shares of the financial services provider’s stock valued at $14,318,000 after acquiring an additional 21,191 shares during the last quarter. Quest Partners LLC lifted its holdings in First Interstate BancSystem by 1,115.4% during the 3rd quarter. Quest Partners LLC now owns 82,998 shares of the financial services provider’s stock worth $2,546,000 after buying an additional 76,169 shares during the period. Finally, LMR Partners LLP acquired a new position in shares of First Interstate BancSystem in the third quarter worth approximately $579,000. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Trading Down 0.3 %

NASDAQ FIBK opened at $30.60 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem, Inc. has a 52 week low of $24.16 and a 52 week high of $36.77. The business has a 50 day moving average price of $32.19 and a 200-day moving average price of $31.91. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 13.97 and a beta of 0.85.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. As a group, equities analysts expect that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.14%. First Interstate BancSystem’s dividend payout ratio is presently 85.84%.

Analyst Ratings Changes

FIBK has been the topic of a number of recent analyst reports. Barclays boosted their price target on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the stock an “underweight” rating in a research report on Thursday, December 5th. StockNews.com raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Monday. Stephens decreased their price target on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 31st. DA Davidson reissued a “buy” rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Finally, Wells Fargo & Company raised their target price on First Interstate BancSystem from $29.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $36.14.

Insider Activity at First Interstate BancSystem

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $32.56, for a total value of $43,467.60. Following the transaction, the director now owns 1,414,886 shares in the company, valued at $46,068,688.16. This trade represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.90% of the stock is owned by insiders.

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. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.