First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Sold by American Century Companies Inc.

American Century Companies Inc. decreased its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 17.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,024,869 shares of the financial services provider's stock after selling 423,013 shares during the period. American Century Companies Inc. owned about 1.94% of First Interstate BancSystem worth $65,748,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in First Interstate BancSystem in the 3rd quarter valued at approximately $528,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of First Interstate BancSystem by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,073,814 shares of the financial services provider's stock valued at $32,945,000 after buying an additional 52,919 shares during the period. Fisher Asset Management LLC boosted its stake in shares of First Interstate BancSystem by 17.2% in the third quarter. Fisher Asset Management LLC now owns 319,000 shares of the financial services provider's stock valued at $9,787,000 after buying an additional 46,747 shares in the last quarter. Advantage Alpha Capital Partners LP grew its holdings in First Interstate BancSystem by 41.1% during the third quarter. Advantage Alpha Capital Partners LP now owns 16,072 shares of the financial services provider's stock worth $493,000 after acquiring an additional 4,684 shares during the period. Finally, BNP Paribas Financial Markets raised its position in First Interstate BancSystem by 97.0% in the third quarter. BNP Paribas Financial Markets now owns 31,779 shares of the financial services provider's stock worth $975,000 after acquiring an additional 15,649 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at First Interstate BancSystem

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $32.56, for a total transaction of $43,467.60. Following the transaction, the director now directly owns 1,414,886 shares in the company, valued at $46,068,688.16. This represents a 0.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 6.90% of the company's stock.

First Interstate BancSystem Trading Down 1.8 %

NASDAQ:FIBK traded down $0.51 on Friday, reaching $28.59. The stock had a trading volume of 360,828 shares, compared to its average volume of 612,434. First Interstate BancSystem, Inc. has a 12-month low of $24.16 and a 12-month high of $36.77. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 13.05 and a beta of 0.84. The firm's fifty day moving average is $30.92 and its two-hundred day moving average is $31.72. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. Equities analysts expect that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.58%. The ex-dividend date of this dividend was Monday, February 10th. First Interstate BancSystem's dividend payout ratio is presently 85.84%.

Analyst Ratings Changes

A number of research firms have recently weighed in on FIBK. Wells Fargo & Company upped their price target on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the stock an "underweight" rating in a research note on Monday, February 3rd. Keefe, Bruyette & Woods increased their target price on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Barclays boosted their price target on First Interstate BancSystem from $30.00 to $31.00 and gave the stock an "underweight" rating in a research note on Thursday, December 5th. Stephens dropped their price objective on First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Finally, StockNews.com upgraded First Interstate BancSystem from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $36.14.

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. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.