Today, Nationwide Fund Advisors Sold shares of First Interstate BancSystem Inc. (FIBK)

Today, Nationwide Fund Advisors Sold shares of First Interstate BancSystem Inc. (FIBK)

Nationwide Fund Advisors reduced its position in First Interstate BancSystem Inc. (NASDAQ:FIBK) by 2.9% during the second quarter, Holdings Channel reports. The fund owned 57,212 shares of the financial services provider’s stock after selling 1,704 shares during the period. Nationwide Fund Advisors owned about 0.13% of First Interstate BancSystem worth $1,608,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. bought a new stake in First Interstate BancSystem during the second quarter worth about $4,937,000. Stockman Asset Management increased 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. TIAA CREF Investment Management LLC increased 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. Mutual of America Capital Management LLC increased its stake in First Interstate BancSystem by 2.9% in the second quarter. Mutual of America Capital Management LLC now owns 140,774 shares of the financial services provider’s stock worth $3,956,000 after buying an additional 3,939 shares during the last quarter. Finally, Hillcrest Asset Management LLC bought a new stake in First Interstate BancSystem during the first quarter worth about $10,006,000. Institutional investors own 32.96% of the company’s stock.

First Interstate BancSystem Inc. (NASDAQ:FIBK) opened at 32.05 on Monday. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 16.19 and a beta of 1.09. First Interstate BancSystem Inc. has a 1-year low of $24.92 and a 1-year high of $32.67. The company has a 50-day moving average of $31.34 and a 200-day moving average of $29.11.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Monday, July 25th. The financial services provider reported $0.52 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52. First Interstate BancSystem had a net margin of 21.57% and a return on equity of 9.52%. On average, equities analysts predict that First Interstate BancSystem Inc. will post $2.11 earnings per share for the current year.

A number of equities research analysts have issued reports on FIBK shares. Zacks Investment Research downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Friday, July 15th. FIG Partners restated a “market perform” rating on shares of First Interstate BancSystem in a research note on Wednesday, July 27th. Finally, Barclays PLC increased their price target on shares of First Interstate BancSystem from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.00.

In other news, Director Jonathan R. Scott sold 960 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $30.20, for a total value of $28,992.00. Following the completion of the transaction, the director now owns 49,858 shares in the company, valued at $1,505,711.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan R. Scott sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $29.20, for a total transaction of $29,200.00. Following the completion of the transaction, the director now owns 4,958 shares of the company’s stock, valued at approximately $144,773.60. The disclosure for this sale can be found here. 38.22% of the stock is currently owned by insiders.

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.

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