First Interstate BancSystem, Inc. (FIBK) Position Raised by Macquarie Group Ltd.

Macquarie Group Ltd. boosted its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 46.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,885,343 shares of the financial services provider’s stock after buying an additional 594,414 shares during the quarter. Macquarie Group Ltd. owned approximately 3.34% of First Interstate BancSystem worth $72,114,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of FIBK. Mutual of America Capital Management LLC raised its holdings in First Interstate BancSystem by 1.8% in the 3rd quarter. Mutual of America Capital Management LLC now owns 180,609 shares of the financial services provider’s stock worth $6,908,000 after purchasing an additional 3,196 shares in the last quarter. UBS Asset Management Americas Inc. bought a new position in First Interstate BancSystem in the 2nd quarter worth $213,000. CS Mckee LP bought a new position in First Interstate BancSystem in the 2nd quarter worth $958,000. Kennedy Capital Management Inc. bought a new position in First Interstate BancSystem in the 2nd quarter worth $2,020,000. Finally, LSV Asset Management raised its holdings in First Interstate BancSystem by 13.2% in the 2nd quarter. LSV Asset Management now owns 618,585 shares of the financial services provider’s stock worth $23,011,000 after purchasing an additional 71,900 shares in the last quarter. Institutional investors own 46.07% of the company’s stock.

First Interstate BancSystem, Inc. (NASDAQ:FIBK) traded up $0.40 during trading hours on Friday, hitting $37.90. 161,587 shares of the stock were exchanged, compared to its average volume of 156,750. The stock has a market cap of $2,139.23, a P/E ratio of 16.41, a PEG ratio of 1.79 and a beta of 1.19. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.08. First Interstate BancSystem, Inc. has a 12-month low of $33.33 and a 12-month 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 given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date was Monday, October 30th. First Interstate BancSystem’s dividend payout ratio is presently 48.24%.

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In other news, Director Jonathan R. Scott sold 25,000 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $36.81, for a total value of $920,250.00. Following the sale, the director now directly owns 5,556 shares of the company’s stock, valued at approximately $204,516.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ross E. Leckie sold 1,500 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $38.85, for a total transaction of $58,275.00. Following the completion of the sale, the director now directly owns 23,028 shares in the company, valued at $894,637.80. The disclosure for this sale can be found here. Insiders sold a total of 52,357 shares of company stock worth $1,941,627 over the last ninety days. Insiders own 38.22% of the company’s stock.

FIBK has been the subject of several research reports. Barclays PLC set a $43.00 price objective on shares of First Interstate BancSystem and gave the stock a “buy” rating in a report on Wednesday, October 11th. ValuEngine lowered shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. 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 report on Wednesday, November 1st. Finally, BidaskClub lowered shares of First Interstate BancSystem from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $43.25.

About First Interstate BancSystem

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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