National Asset Management Inc. Reduces Holdings in First Interstate BancSystem, Inc. (FIBK)

National Asset Management Inc. lessened its stake in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 0.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,500 shares of the financial services provider’s stock after selling 19 shares during the period. National Asset Management Inc.’s holdings in First Interstate BancSystem were worth $763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FIBK. BNP Paribas Arbitrage SA boosted its holdings in shares of First Interstate BancSystem by 622.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,970 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 2,559 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of First Interstate BancSystem by 955.6% during the 2nd quarter. Quantbot Technologies LP now owns 3,019 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 2,733 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of First Interstate BancSystem by 5.6% during the 1st quarter. Sei Investments Co. now owns 3,154 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 168 shares during the last quarter. Brandywine Global Investment Management LLC bought a new position in shares of First Interstate BancSystem during the 2nd quarter valued at about $142,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of First Interstate BancSystem by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,531 shares of the financial services provider’s stock valued at $169,000 after purchasing an additional 680 shares during the last quarter. 44.85% of the stock is owned by institutional investors and hedge funds.

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Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) traded down 0.65% on Friday, hitting $38.15. 47,000 shares of the company were exchanged. The firm’s 50-day moving average is $36.51 and its 200-day moving average is $37.08. First Interstate BancSystem, Inc. has a 52-week low of $30.70 and a 52-week high of $45.35. The stock has a market capitalization of $2.15 billion, a PE ratio of 18.46 and a beta of 1.17.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results 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 for 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 research analysts predict that First Interstate BancSystem, Inc. will post $2.29 earnings per share for the current year.

Several research analysts have commented on FIBK shares. BidaskClub downgraded shares of First Interstate BancSystem from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Zacks Investment Research downgraded shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Barclays PLC set a $43.00 price target on shares of First Interstate BancSystem and gave the company a “buy” rating in a report on Wednesday. Finally, ValuEngine downgraded shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. First Interstate BancSystem presently has a consensus rating of “Hold” and a consensus price target of $42.50.

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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