Deutsche Bank AG Trims Stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Deutsche Bank AG trimmed its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 38.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,610 shares of the financial services provider's stock after selling 43,837 shares during the period. Deutsche Bank AG owned approximately 0.07% of First Interstate BancSystem worth $2,260,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of FIBK. Vanguard Group Inc. raised its holdings in shares of First Interstate BancSystem by 6.8% during the 4th quarter. Vanguard Group Inc. now owns 9,229,785 shares of the financial services provider's stock valued at $299,691,000 after buying an additional 587,975 shares in the last quarter. FMR LLC raised its stake in shares of First Interstate BancSystem by 35.5% during the fourth quarter. FMR LLC now owns 6,786,334 shares of the financial services provider's stock worth $220,352,000 after acquiring an additional 1,778,269 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of First Interstate BancSystem by 2.7% during the fourth quarter. Franklin Resources Inc. now owns 5,474,757 shares of the financial services provider's stock worth $177,765,000 after acquiring an additional 145,842 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of First Interstate BancSystem by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,045,741 shares of the financial services provider's stock worth $163,836,000 after acquiring an additional 138,050 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of First Interstate BancSystem by 3.8% in the 4th quarter. JPMorgan Chase & Co. now owns 2,936,868 shares of the financial services provider's stock valued at $95,360,000 after purchasing an additional 107,774 shares in the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

First Interstate BancSystem Trading Up 2.2%

FIBK traded up $0.59 during midday trading on Tuesday, reaching $27.20. 325,695 shares of the company's stock traded hands, compared to its average volume of 669,716. First Interstate BancSystem, Inc. has a 52 week low of $22.95 and a 52 week high of $36.77. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a fifty day moving average of $26.96 and a two-hundred day moving average of $30.44. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 12.40 and a beta of 0.76.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. The business had revenue of $42.00 million for the quarter, compared to analysts' expectations of $253.50 million. During the same period last year, the firm posted $0.57 earnings per share. First Interstate BancSystem's quarterly revenue was up 2.0% on a year-over-year basis. On average, equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th were given a $0.47 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.88 annualized dividend and a dividend yield of 6.91%. First Interstate BancSystem's dividend payout ratio is 89.10%.

Analysts Set New Price Targets

A number of brokerages recently commented on FIBK. Stephens decreased their target price on shares of First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company lowered their target price on First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating for the company in a research note on Wednesday, April 9th. Barclays dropped their target price on First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. DA Davidson reaffirmed a "buy" rating and issued a $42.00 price target on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Finally, Wall Street Zen raised First Interstate BancSystem from a "sell" rating to a "hold" rating in a research note on Saturday, May 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $35.00.

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.