Standard Life Aberdeen plc Acquires 224,659 Shares of First Interstate Bancsystem Inc (NASDAQ:FIBK)

Standard Life Aberdeen plc increased its holdings in shares of First Interstate Bancsystem Inc (NASDAQ:FIBK) by 34.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 868,788 shares of the financial services provider’s stock after purchasing an additional 224,659 shares during the period. Standard Life Aberdeen plc owned 1.33% of First Interstate Bancsystem worth $36,420,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FIBK. Bank of New York Mellon Corp lifted its holdings in First Interstate Bancsystem by 19.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,555,473 shares of the financial services provider’s stock worth $65,205,000 after buying an additional 255,302 shares during the period. Cypress Capital Management LLC WY bought a new position in shares of First Interstate Bancsystem in the 4th quarter worth $9,003,000. Advisory Research Inc. lifted its stake in shares of First Interstate Bancsystem by 65.6% during the 4th quarter. Advisory Research Inc. now owns 498,262 shares of the financial services provider’s stock worth $20,887,000 after purchasing an additional 197,442 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of First Interstate Bancsystem by 10.0% during the 4th quarter. Schroder Investment Management Group now owns 963,075 shares of the financial services provider’s stock worth $40,372,000 after purchasing an additional 87,313 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of First Interstate Bancsystem by 82.5% during the 4th quarter. California Public Employees Retirement System now owns 183,488 shares of the financial services provider’s stock worth $7,692,000 after purchasing an additional 82,947 shares during the last quarter. 50.29% of the stock is currently owned by institutional investors.

In related news, EVP Russell A. Lee purchased 1,000 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were acquired at an average price of $25.75 per share, for a total transaction of $25,750.00. Following the purchase, the executive vice president now owns 4,076 shares of the company’s stock, valued at approximately $104,957. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 24.93% of the stock is currently owned by insiders.

NASDAQ:FIBK traded up $2.02 during mid-day trading on Thursday, hitting $28.52. 230,000 shares of the company’s stock traded hands, compared to its average volume of 259,912. The company has a fifty day moving average of $34.32 and a 200 day moving average of $39.53. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.81 and a current ratio of 0.81. First Interstate Bancsystem Inc has a twelve month low of $24.50 and a twelve month high of $43.83. The company has a market capitalization of $1.81 billion, a P/E ratio of 10.04 and a beta of 1.10.

First Interstate Bancsystem (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.80 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.80. First Interstate Bancsystem had a return on equity of 10.16% and a net margin of 25.71%. The business had revenue of $165.40 million for the quarter, compared to analyst estimates of $165.13 million. On average, research analysts expect that First Interstate Bancsystem Inc will post 2.89 earnings per share for the current fiscal year.

The business also recently announced a None dividend, which was paid on Thursday, March 12th. Investors of record on Monday, March 2nd were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from First Interstate Bancsystem’s previous None dividend of $0.20. First Interstate Bancsystem’s dividend payout ratio (DPR) is 44.30%.

A number of equities analysts have commented on the stock. TheStreet downgraded shares of First Interstate Bancsystem from a “b-” rating to a “c+” rating in a report on Wednesday, March 11th. Zacks Investment Research raised shares of First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research report on Tuesday, December 31st. BidaskClub upgraded shares of First Interstate Bancsystem from a “strong sell” rating to a “sell” rating in a research note on Thursday, March 19th. Finally, DA Davidson reissued a “neutral” rating on shares of First Interstate Bancsystem in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. First Interstate Bancsystem currently has an average rating of “Hold” and a consensus price target of $44.00.

First Interstate Bancsystem Profile

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. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.

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

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