American Century Companies Inc. Has $47.16 Million Holdings in First Interstate BancSystem, Inc. $FIBK

Key Points

• American Century Companies Inc. has reduced its stake in First Interstate BancSystem, Inc. by 18.7%, now holding approximately 1.57% of the company valued at $47.2 million.
• The company recently reported earnings of $0.69 per share, surpassing analysts' expectations, but its revenue missed estimates at $248.3 million for the quarter.
• First Interstate BancSystem declared a quarterly dividend of $0.47 per share, yielding 6.2%, with the ex-dividend date on August 11th.

American Century Companies Inc. reduced its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 18.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,645,952 shares of the financial services provider's stock after selling 378,917 shares during the period. American Century Companies Inc. owned 1.57% of First Interstate BancSystem worth $47,157,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Deutsche Bank AG boosted its position in shares of First Interstate BancSystem by 0.7% in the 1st quarter. Deutsche Bank AG now owns 70,065 shares of the financial services provider's stock worth $2,007,000 after purchasing an additional 455 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of First Interstate BancSystem by 7.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,872 shares of the financial services provider's stock worth $385,000 after purchasing an additional 807 shares during the last quarter. Wood Tarver Financial Group LLC bought a new position in shares of First Interstate BancSystem in the 4th quarter worth $26,000. JNBA Financial Advisors bought a new position in shares of First Interstate BancSystem in the 1st quarter worth $29,000. Finally, Naples Global Advisors LLC lifted its holdings in First Interstate BancSystem by 12.5% during the first quarter. Naples Global Advisors LLC now owns 9,510 shares of the financial services provider's stock worth $272,000 after acquiring an additional 1,060 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors.

First Interstate BancSystem Stock Down 0.5%

Shares of First Interstate BancSystem stock traded down $0.16 during trading on Monday, reaching $31.83. The stock had a trading volume of 690,517 shares, compared to its average volume of 891,893. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 14.34 and a beta of 0.83. The stock has a fifty day moving average price of $29.64 and a two-hundred day moving average price of $28.60. First Interstate BancSystem, Inc. has a 52 week low of $22.95 and a 52 week high of $36.77. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.19.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.12. The company had revenue of $248.30 million for the quarter, compared to analyst estimates of $253.73 million. First Interstate BancSystem had a return on equity of 6.82% and a net margin of 16.04%.The company's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.58 earnings per share. Sell-side analysts predict that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Monday, August 11th were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.9%. First Interstate BancSystem's payout ratio is currently 84.68%.

Analysts Set New Price Targets

Several research firms have weighed in on FIBK. Wall Street Zen lowered First Interstate BancSystem from a "hold" rating to a "sell" rating in a report on Monday, August 11th. Keefe, Bruyette & Woods upgraded First Interstate BancSystem from a "hold" rating to a "moderate buy" rating and set a $32.00 target price on the stock in a report on Monday, June 23rd. Wells Fargo & Company lifted their target price on First Interstate BancSystem from $25.00 to $28.00 and gave the stock an "underweight" rating in a report on Thursday, July 10th. Finally, Barclays upgraded First Interstate BancSystem from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $28.00 to $32.00 in a report on Tuesday, July 8th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $35.43.

Insider Transactions at First Interstate BancSystem

In related news, major shareholder Susan Scott Heyneman Trust, Su sold 55,000 shares of First Interstate BancSystem stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $27.86, for a total value of $1,532,300.00. Following the sale, the insider owned 529,256 shares of the company's stock, valued at approximately $14,745,072.16. The trade was a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John M. Heyneman, Jr. sold 11,818 shares of First Interstate BancSystem stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $30.18, for a total value of $356,667.24. Following the completion of the sale, the director directly owned 5,224 shares in the company, valued at approximately $157,660.32. This represents a 69.35% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,818 shares of company stock worth $3,600,017. 8.20% of the stock is owned by company insiders.

First Interstate BancSystem Profile

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.