Goldman Sachs Group Inc. Increases Position in First Interstate BancSystem, Inc. (FIBK)

Goldman Sachs Group Inc. increased its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 127.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,610 shares of the financial services provider’s stock after acquiring an additional 36,263 shares during the quarter. Goldman Sachs Group Inc. owned about 0.11% of First Interstate BancSystem worth $2,403,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its position in 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 worth $110,000 after acquiring an additional 2,559 shares during the period. Quantbot Technologies LP increased its position in 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 worth $112,000 after acquiring an additional 2,733 shares during the period. Brandywine Global Investment Management LLC bought a new position in First Interstate BancSystem during the second quarter worth $142,000. Victory Capital Management Inc. increased its position in 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 worth $169,000 after acquiring an additional 680 shares during the period. Finally, Great West Life Assurance Co. Can increased its position in First Interstate BancSystem by 38.3% during the second quarter. Great West Life Assurance Co. Can now owns 4,611 shares of the financial services provider’s stock worth $171,000 after acquiring an additional 1,278 shares during the period. 44.97% of the stock is currently owned by institutional investors and hedge funds.

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Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) opened at 38.80 on Monday. First Interstate BancSystem, Inc. has a one year low of $30.70 and a one year high of $45.35. The firm has a 50-day moving average of $37.45 and a 200 day moving average of $37.02. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 18.77 and a beta of 1.17.

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 given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.47%. The ex-dividend date is Monday, October 30th. First Interstate BancSystem’s payout ratio is 46.38%.

A number of equities analysts recently issued reports on the stock. BidaskClub lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Zacks Investment Research raised shares of First Interstate BancSystem from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Tuesday, August 1st. ValuEngine lowered shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Finally, Barclays PLC set a $43.00 price target on shares of First Interstate BancSystem and gave the company a “buy” rating in a report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $42.50.

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.

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

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