Swiss National Bank continued to hold its stake in shares of First Interstate BancSystem Inc. (NASDAQ:FIBK) during the second quarter, Holdings Channel reports. The fund owned 33,400 shares of the financial services provider’s stock at the end of the second quarter. Swiss National Bank owned about 0.07% of First Interstate BancSystem worth $939,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the stock. TIAA CREF Investment Management LLC boosted its stake in First Interstate BancSystem by 17.7% in the first quarter. TIAA CREF Investment Management LLC now owns 130,790 shares of the financial services provider’s stock worth $3,679,000 after buying an additional 19,702 shares during the last quarter. Stockman Asset Management boosted its stake in First Interstate BancSystem by 259.4% in the first quarter. Stockman Asset Management now owns 54,463 shares of the financial services provider’s stock worth $1,532,000 after buying an additional 39,310 shares during the last quarter. Renaissance Technologies LLC boosted its stake in First Interstate BancSystem by 31.2% in the first quarter. Renaissance Technologies LLC now owns 461,700 shares of the financial services provider’s stock worth $12,988,000 after buying an additional 109,800 shares during the last quarter. Royal Bank of Canada boosted its stake in First Interstate BancSystem by 405.1% in the first quarter. Royal Bank of Canada now owns 31,926 shares of the financial services provider’s stock worth $899,000 after buying an additional 25,605 shares during the last quarter. Finally, Hillcrest Asset Management LLC bought a new stake in First Interstate BancSystem during the first quarter worth $10,006,000. 32.96% of the stock is owned by hedge funds and other institutional investors.
Shares of First Interstate BancSystem Inc. (NASDAQ:FIBK) traded down 0.46% during trading on Thursday, hitting $32.18. The stock had a trading volume of 29,608 shares. The firm’s 50-day moving average is $30.97 and its 200-day moving average is $28.93. The firm has a market cap of $1.44 billion, a P/E ratio of 16.25 and a beta of 1.09. First Interstate BancSystem Inc. has a one year low of $24.92 and a one year high of $32.67.
First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Monday, July 25th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.52. First Interstate BancSystem had a return on equity of 9.52% and a net margin of 21.57%. Equities research analysts forecast that First Interstate BancSystem Inc. will post $2.11 EPS for the current year.
A number of analysts have weighed in on the company. Barclays PLC reaffirmed a “buy” rating and set a $31.00 price objective on shares of First Interstate BancSystem in a research report on Thursday, July 28th. FIG Partners reaffirmed a “market perform” rating on shares of First Interstate BancSystem in a research report on Wednesday, July 27th. Finally, Zacks Investment Research raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Friday, July 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. First Interstate BancSystem currently has an average rating of “Hold” and a consensus target price of $30.25.
In related news, Director Jonathan R. Scott sold 1,000 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $29.20, for a total value of $29,200.00. Following the completion of the sale, the director now directly owns 4,958 shares of the company’s stock, valued at $144,773.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kevin P. Riley acquired 2,676 shares of the stock in a transaction that occurred on Tuesday, August 9th. The stock was purchased at an average cost of $29.71 per share, with a total value of $79,503.96. Following the completion of the acquisition, the chief executive officer now owns 33,968 shares of the company’s stock, valued at $1,009,189.28. The disclosure for this purchase can be found here. Insiders own 38.22% of the company’s stock.
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 operates through community banking segment.