Schwab Charles Investment Management Inc. Has $4.08 Million Position in First Interstate Bancsystem Inc (FIBK)

Schwab Charles Investment Management Inc. reduced its stake in shares of First Interstate Bancsystem Inc (NASDAQ:FIBK) by 3.1% in the 3rd quarter, Holdings Channel reports. The firm owned 106,752 shares of the financial services provider’s stock after selling 3,420 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in First Interstate Bancsystem were worth $4,084,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in First Interstate Bancsystem during the 3rd quarter worth $105,000. BNP Paribas Arbitrage SA raised its position in First Interstate Bancsystem by 622.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,970 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 2,559 shares during the last quarter. Quantbot Technologies LP raised its position in First Interstate Bancsystem by 955.6% during the 2nd quarter. Quantbot Technologies LP now owns 3,019 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 2,733 shares during the last quarter. Brandywine Global Investment Management LLC bought a new position in First Interstate Bancsystem during the 2nd quarter worth $142,000. Finally, Victory Capital Management Inc. raised its position in First Interstate Bancsystem by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,531 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 680 shares during the last quarter. 45.22% of the stock is owned by institutional investors and hedge funds.

In other news, major shareholder Homer A. Scott, Jr. sold 10,100 shares of First Interstate Bancsystem stock in a transaction dated Saturday, November 4th. The stock was sold at an average price of $28.46, for a total value of $287,446.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ross E. Leckie sold 1,500 shares of First Interstate Bancsystem stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $38.85, for a total value of $58,275.00. Following the completion of the transaction, the director now directly owns 23,028 shares of the company’s stock, valued at $894,637.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 114,525 shares of company stock valued at $4,240,874. Corporate insiders own 38.22% of the company’s stock.

First Interstate Bancsystem Inc (NASDAQ FIBK) opened at $42.45 on Friday. First Interstate Bancsystem Inc has a 12-month low of $33.33 and a 12-month high of $45.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market capitalization of $2,280.00, a PE ratio of 21.23, a PEG ratio of 1.67 and a beta of 1.18.

Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $45.00 target price on shares of First Interstate Bancsystem in a research report on Friday, December 22nd. Barclays raised their target price on First Interstate Bancsystem from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Zacks Investment Research raised First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. First Interstate Bancsystem has an average rating of “Hold” and a consensus target price of $44.75.

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First Interstate Bancsystem Company Profile

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 also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.

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

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