UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 17.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 255,966 shares of the financial services provider's stock after selling 52,694 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.24% of First Interstate BancSystem worth $7,853,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. TNF LLC raised its stake in shares of First Interstate BancSystem by 1.5% during the 3rd quarter. TNF LLC now owns 25,376 shares of the financial services provider's stock worth $812,000 after purchasing an additional 367 shares during the period. Caprock Group LLC grew its position in shares of First Interstate BancSystem by 1.7% during the 2nd quarter. Caprock Group LLC now owns 25,673 shares of the financial services provider's stock valued at $713,000 after acquiring an additional 422 shares during the period. Wrapmanager Inc. increased its position in First Interstate BancSystem by 5.0% in the third quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider's stock worth $275,000 after buying an additional 429 shares during the last quarter. CWM LLC grew its stake in shares of First Interstate BancSystem by 16.0% during the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider's stock worth $87,000 after acquiring an additional 430 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its stake in First Interstate BancSystem by 5.3% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider's stock valued at $311,000 after acquiring an additional 507 shares during the period. 88.71% of the stock is currently owned by institutional investors.

First Interstate BancSystem Price Performance

NASDAQ FIBK traded down $0.31 during trading on Tuesday, reaching $33.95. The company's stock had a trading volume of 972,605 shares, compared to its average volume of 672,183. The stock has a market capitalization of $3.55 billion, a PE ratio of 14.89 and a beta of 0.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a fifty day moving average of $32.51 and a 200 day moving average of $30.13. First Interstate BancSystem, Inc. has a one year low of $24.16 and a one year high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same quarter in the previous year, the firm posted $0.70 earnings per share. Analysts expect that First Interstate BancSystem, Inc. will post 2.28 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.88 dividend on an annualized basis and a yield of 5.54%. First Interstate BancSystem's payout ratio is 82.46%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Barclays upped their price target on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the company an "underweight" rating in a research note on Thursday, December 5th. Keefe, Bruyette & Woods increased their target price on First Interstate BancSystem from $32.00 to $36.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Wells Fargo & Company lifted their price target on First Interstate BancSystem from $28.00 to $30.00 and gave the company an "underweight" rating in a research report on Tuesday, December 3rd. Stephens restated an "overweight" rating and issued a $36.00 target price on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Finally, StockNews.com raised First Interstate BancSystem from a "sell" rating to a "hold" rating in a report on Thursday, November 28th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $35.17.

Insiders Place Their Bets

In related news, major shareholder Julie A. Scott sold 20,220 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $32.78, for a total transaction of $662,811.60. Following the transaction, the insider now directly owns 635,069 shares in the company, valued at $20,817,561.82. This trade represents a 3.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $34.50, for a total value of $209,311.50. Following the sale, the insider now directly owns 75,387 shares of the company's stock, valued at approximately $2,600,851.50. This trade represents a 7.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,837 shares of company stock valued at $1,839,583 over the last 90 days. Insiders own 6.90% of the company's stock.

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.