First Interstate Bancsystem Inc (FIBK) Position Raised by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its position in shares of First Interstate Bancsystem Inc (NASDAQ:FIBK) by 62.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,971 shares of the financial services provider’s stock after purchasing an additional 5,746 shares during the quarter. Advisors Asset Management Inc.’s holdings in First Interstate Bancsystem were worth $573,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FIBK. BNP Paribas Arbitrage SA increased its position in First Interstate Bancsystem by 622.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,970 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 2,559 shares in the last quarter. Quantbot Technologies LP increased its position in First Interstate Bancsystem by 955.6% in the 2nd quarter. Quantbot Technologies LP now owns 3,019 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 2,733 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new stake in First Interstate Bancsystem in the 2nd quarter valued at about $142,000. Victory Capital Management Inc. increased its position in First Interstate Bancsystem by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,531 shares of the financial services provider’s stock valued at $169,000 after acquiring an additional 680 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its position in First Interstate Bancsystem by 38.3% in the 2nd quarter. Great West Life Assurance Co. Can now owns 4,611 shares of the financial services provider’s stock valued at $171,000 after acquiring an additional 1,278 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

In related news, major shareholder Homer A. Scott, Jr. sold 10,100 shares of First Interstate Bancsystem stock in a transaction that occurred on Saturday, November 4th. The shares were sold at an average price of $28.46, for a total transaction of $287,446.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Homer A. Scott, Jr. sold 9,400 shares of First Interstate Bancsystem stock in a transaction that occurred on Saturday, December 2nd. The stock was sold at an average price of $38.38, for a total transaction of $360,772.00. The disclosure for this sale can be found here. Insiders sold a total of 113,032 shares of company stock worth $4,177,785 in the last ninety days. Insiders own 38.22% of the company’s stock.

Several equities research analysts have weighed in on the stock. ValuEngine cut shares of First Interstate Bancsystem from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Barclays set a $43.00 price objective on shares of First Interstate Bancsystem and gave the company a “buy” rating in a research report on Wednesday, October 11th. Finally, Zacks Investment Research upgraded shares of First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. First Interstate Bancsystem presently has an average rating of “Hold” and a consensus price target of $43.25.

First Interstate Bancsystem Inc (NASDAQ FIBK) opened at $40.05 on Tuesday. The stock has a market cap of $2,229.97, a PE ratio of 17.10, a PEG ratio of 1.88 and a beta of 1.18. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.79 and a quick ratio of 0.79. First Interstate Bancsystem Inc has a one year low of $33.33 and a one year high of $45.35.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 13th. Stockholders of record on Tuesday, October 31st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Monday, October 30th. First Interstate Bancsystem’s dividend payout ratio (DPR) is presently 48.24%.

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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.

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

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