3,803 Shares in First Interstate BancSystem, Inc. (FIBK) Purchased by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC bought a new stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,803 shares of the financial services provider’s stock, valued at approximately $142,000.

Several other hedge funds have also modified their holdings of FIBK. JPMorgan Chase & Co. raised its stake in shares of First Interstate BancSystem by 105.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,670,474 shares of the financial services provider’s stock valued at $62,142,000 after acquiring an additional 858,775 shares during the period. Laurion Capital Management LP purchased a new stake in First Interstate BancSystem during the 2nd quarter worth $23,962,000. Bank of New York Mellon Corp increased its stake in First Interstate BancSystem by 63.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,603,013 shares of the financial services provider’s stock worth $59,632,000 after buying an additional 620,854 shares during the period. Vanguard Group Inc. increased its stake in First Interstate BancSystem by 44.7% during the 1st quarter. Vanguard Group Inc. now owns 1,795,049 shares of the financial services provider’s stock worth $71,175,000 after buying an additional 554,418 shares during the period. Finally, Marshall Wace North America L.P. purchased a new stake in First Interstate BancSystem during the 2nd quarter worth $17,468,000. 44.85% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on FIBK shares. BidaskClub downgraded shares of First Interstate BancSystem from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Zacks Investment Research downgraded shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Barclays PLC set a $43.00 price target on shares of First Interstate BancSystem and gave the stock a “buy” rating in a research note on Wednesday. Finally, ValuEngine downgraded shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. One 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 stock. First Interstate BancSystem presently has a consensus rating of “Hold” and an average target price of $42.50.

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First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data 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. First Interstate BancSystem had a net margin of 21.08% and a return on equity of 9.44%. The firm had revenue of $116.50 million for the quarter, compared to analyst estimates of $119.97 million.

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.

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

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