SG Americas Securities LLC Grows Stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

SG Americas Securities LLC raised its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 270.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,173 shares of the financial services provider's stock after buying an additional 10,344 shares during the period. SG Americas Securities LLC's holdings in First Interstate BancSystem were worth $406,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of First Interstate BancSystem by 6.8% during the fourth quarter. Vanguard Group Inc. now owns 9,229,785 shares of the financial services provider's stock valued at $299,691,000 after acquiring an additional 587,975 shares in the last quarter. FMR LLC grew its holdings 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 valued at $220,352,000 after buying an additional 1,778,269 shares during the last quarter. Franklin Resources Inc. grew its holdings 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 valued at $177,765,000 after buying an additional 145,842 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of First Interstate BancSystem by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,045,741 shares of the financial services provider's stock valued at $163,836,000 after buying an additional 138,050 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in First Interstate BancSystem by 3.8% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 88.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FIBK. Keefe, Bruyette & Woods upgraded shares of First Interstate BancSystem from a "hold" rating to a "moderate buy" rating and set a $32.00 price objective for the company in a research report on Monday. Wells Fargo & Company dropped their price target on shares of 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. Wall Street Zen raised shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a research report on Saturday, May 10th. Finally, Barclays reduced their target price on shares of First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $34.43.

First Interstate BancSystem Stock Performance

NASDAQ:FIBK opened at $27.90 on Wednesday. The firm has a 50 day simple moving average of $27.04 and a 200-day simple moving average of $29.44. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market cap of $2.93 billion, a PE ratio of 13.22 and a beta of 0.79. First Interstate BancSystem, Inc. has a 1-year low of $22.95 and a 1-year high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released its earnings results on Tuesday, April 29th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07). First Interstate BancSystem had a net margin of 14.93% and a return on equity of 6.57%. The company had revenue of $42.00 million during the quarter, compared to analysts' expectations of $253.50 million. During the same quarter in the previous year, the firm posted $0.57 earnings per share. First Interstate BancSystem's revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities analysts expect that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, May 12th. This represents a $1.88 annualized dividend and a yield of 6.74%. First Interstate BancSystem's dividend payout ratio is currently 89.10%.

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.

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