American International Group Inc. Has $836,000 Stock Position in First Interstate Bancsystem Inc (NASDAQ:FIBK)

American International Group Inc. lowered its stake in shares of First Interstate Bancsystem Inc (NASDAQ:FIBK) by 3.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,982 shares of the financial services provider’s stock after selling 680 shares during the period. American International Group Inc.’s holdings in First Interstate Bancsystem were worth $836,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of FIBK. FMR LLC boosted its holdings in First Interstate Bancsystem by 150.2% during the fourth quarter. FMR LLC now owns 1,340,663 shares of the financial services provider’s stock worth $49,014,000 after buying an additional 804,884 shares during the last quarter. BlackRock Inc. raised its position in shares of First Interstate Bancsystem by 13.6% during the fourth quarter. BlackRock Inc. now owns 2,472,238 shares of the financial services provider’s stock worth $90,384,000 after purchasing an additional 295,345 shares during the period. Eagle Asset Management Inc. acquired a new stake in shares of First Interstate Bancsystem during the fourth quarter worth about $5,916,000. Millennium Management LLC raised its position in shares of First Interstate Bancsystem by 20.1% during the fourth quarter. Millennium Management LLC now owns 751,741 shares of the financial services provider’s stock worth $27,484,000 after purchasing an additional 125,944 shares during the period. Finally, RMB Capital Management LLC acquired a new stake in shares of First Interstate Bancsystem during the fourth quarter worth about $4,219,000. Hedge funds and other institutional investors own 51.89% of the company’s stock.

First Interstate Bancsystem stock traded up $0.08 during midday trading on Monday, reaching $39.69. The stock had a trading volume of 114,980 shares, compared to its average volume of 206,869. The company’s fifty day moving average is $38.65. First Interstate Bancsystem Inc has a 1-year low of $34.61 and a 1-year high of $47.05. The stock has a market capitalization of $2.41 billion, a PE ratio of 13.59, a P/E/G ratio of 1.41 and a beta of 1.19. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06.

First Interstate Bancsystem (NASDAQ:FIBK) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). The company had revenue of $150.50 million for the quarter, compared to analyst estimates of $151.84 million. First Interstate Bancsystem had a return on equity of 10.69% and a net margin of 25.84%. As a group, equities analysts anticipate that First Interstate Bancsystem Inc will post 3.12 EPS for the current year.

In related news, Director Peter I. Wold purchased 1,000 shares of the stock in a transaction on Tuesday, June 11th. The shares were purchased at an average price of $37.81 per share, with a total value of $37,810.00. Following the transaction, the director now directly owns 3,707 shares of the company’s stock, valued at $140,161.67. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Philip G. Gaglia sold 2,112 shares of First Interstate Bancsystem stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $42.20, for a total value of $89,126.40. Following the transaction, the insider now owns 3,184 shares of the company’s stock, valued at $134,364.80. The disclosure for this sale can be found here. 24.93% of the stock is owned by insiders.

A number of equities research analysts have recently commented on FIBK shares. Zacks Investment Research lowered First Interstate Bancsystem from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. BidaskClub lowered First Interstate Bancsystem from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Piper Jaffray Companies set a $47.00 price target on First Interstate Bancsystem and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Finally, Robert W. Baird initiated coverage on First Interstate Bancsystem in a research report on Wednesday, April 10th. They issued a “neutral” rating and a $42.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. First Interstate Bancsystem has a consensus rating of “Buy” and a consensus price target of $44.65.

About First Interstate Bancsystem

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. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.

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Institutional Ownership by Quarter for First Interstate Bancsystem (NASDAQ:FIBK)

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