First Interstate BancSystem, Inc. (FIBK) Stake Lowered by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lowered its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 41.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,347 shares of the financial services provider’s stock after selling 20,335 shares during the period. Goldman Sachs Group Inc. owned 0.06% of First Interstate BancSystem worth $1,124,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Sei Investments Co. boosted its stake in shares of First Interstate BancSystem by 5.6% in the first quarter. Sei Investments Co. now owns 3,154 shares of the financial services provider’s stock worth $125,000 after buying an additional 168 shares during the period. Fifth Third Bancorp purchased a new stake in shares of First Interstate BancSystem during the first quarter worth about $216,000. Stevens Capital Management LP purchased a new stake in shares of First Interstate BancSystem during the first quarter worth about $218,000. Advisors Asset Management Inc. boosted its stake in shares of First Interstate BancSystem by 829.0% in the first quarter. Advisors Asset Management Inc. now owns 6,029 shares of the financial services provider’s stock worth $239,000 after buying an additional 5,380 shares during the period. Finally, Wrapmanager Inc. boosted its stake in shares of First Interstate BancSystem by 5.1% in the first quarter. Wrapmanager Inc. now owns 6,105 shares of the financial services provider’s stock worth $242,000 after buying an additional 297 shares during the period. Institutional investors and hedge funds own 38.69% of the company’s stock.

First Interstate BancSystem, Inc. (FIBK) traded down 0.84% during midday trading on Friday, reaching $35.55. 70,550 shares of the company’s stock traded hands. First Interstate BancSystem, Inc. has a 52-week low of $29.29 and a 52-week high of $45.35. The company has a market cap of $2.01 billion, a P/E ratio of 17.22 and a beta of 1.15. The stock has a 50-day moving average of $36.78 and a 200 day moving average of $38.83.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. The firm had revenue of $116.50 million during the quarter, compared to analysts’ expectations of $119.97 million. First Interstate BancSystem had a net margin of 22.60% and a return on equity of 10.44%. On average, analysts anticipate that First Interstate BancSystem, Inc. will post $2.29 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Wednesday, August 2nd will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, July 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.68%. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 46.38%.

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A number of brokerages recently issued reports on FIBK. Zacks Investment Research cut shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. BidaskClub cut shares of First Interstate BancSystem from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Keefe, Bruyette & Woods set a $43.00 target price on shares of First Interstate BancSystem and gave the stock a “hold” rating in a research report on Saturday, May 27th. Piper Jaffray Companies reiterated an “overweight” rating and set a $43.00 target price (down previously from $44.00) on shares of First Interstate BancSystem in a research report on Thursday, June 1st. Finally, Barclays PLC reiterated an “overweight” rating and set a $41.00 target price on shares of First Interstate BancSystem in a research report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $42.00.

First Interstate BancSystem Company 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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