First Interstate BancSystem, Inc. (FIBK) Shares Bought by LSV Asset Management

LSV Asset Management grew its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 13.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 618,585 shares of the financial services provider’s stock after buying an additional 71,900 shares during the quarter. LSV Asset Management owned 1.10% of First Interstate BancSystem worth $23,011,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Granite Investment Partners LLC boosted its holdings in shares of First Interstate BancSystem by 0.4% in the second quarter. Granite Investment Partners LLC now owns 29,273 shares of the financial services provider’s stock valued at $1,089,000 after buying an additional 113 shares during the period. Sei Investments Co. boosted its holdings 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 valued at $125,000 after buying an additional 168 shares during the period. Wrapmanager Inc. boosted its holdings in shares of First Interstate BancSystem by 3.6% in the second quarter. Wrapmanager Inc. now owns 6,322 shares of the financial services provider’s stock valued at $235,000 after buying an additional 217 shares during the period. American Century Companies Inc. boosted its holdings in shares of First Interstate BancSystem by 0.6% in the first quarter. American Century Companies Inc. now owns 61,377 shares of the financial services provider’s stock valued at $2,434,000 after buying an additional 359 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of First Interstate BancSystem by 3.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 12,297 shares of the financial services provider’s stock valued at $488,000 after buying an additional 432 shares during the period. Institutional investors own 44.85% of the company’s stock.

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First Interstate BancSystem, Inc. (FIBK) opened at 35.80 on Wednesday. The company’s 50-day moving average is $35.75 and its 200 day moving average is $37.82. First Interstate BancSystem, Inc. has a one year low of $30.10 and a one year high of $45.35. The firm has a market cap of $2.02 billion, a PE ratio of 17.32 and a beta of 1.16.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $116.50 million during the quarter, compared to analyst estimates of $119.97 million. First Interstate BancSystem had a net margin of 21.08% and a return on equity of 9.44%. Equities analysts anticipate that First Interstate BancSystem, Inc. will post $2.29 earnings per share for the current year.

Several research analysts have recently weighed in on FIBK shares. Keefe, Bruyette & Woods set a $43.00 price target on shares of First Interstate BancSystem and gave the company a “hold” rating in a report on Saturday, May 27th. ValuEngine upgraded shares of First Interstate BancSystem from a “hold” rating to a “buy” rating in a report on Wednesday, May 31st. Piper Jaffray Companies reiterated an “overweight” rating and issued a $43.00 price target (down previously from $44.00) on shares of First Interstate BancSystem in a report on Thursday, June 1st. Wells Fargo & Company upgraded shares of First Interstate BancSystem from a “market perform” rating to an “outperform” rating in a report on Friday, June 2nd. Finally, BidaskClub upgraded shares of First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. First Interstate BancSystem has a consensus rating of “Hold” 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.

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

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