Peregrine Capital Management LLC increased its holdings in First Interstate Bancsystem Inc (NASDAQ:FIBK) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 177,819 shares of the financial services provider’s stock after purchasing an additional 2,525 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.28% of First Interstate Bancsystem worth $5,505,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. PrairieView Partners LLC bought a new stake in shares of First Interstate Bancsystem in the first quarter worth $32,000. Rockefeller Capital Management L.P. lifted its holdings in First Interstate Bancsystem by 36.1% in the first quarter. Rockefeller Capital Management L.P. now owns 1,361 shares of the financial services provider’s stock valued at $39,000 after buying an additional 361 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in First Interstate Bancsystem by 2,370.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,433 shares of the financial services provider’s stock valued at $41,000 after buying an additional 1,375 shares during the period. Aigen Investment Management LP acquired a new position in First Interstate Bancsystem in the first quarter valued at $56,000. Finally, Beese Fulmer Investment Management Inc. acquired a new position in First Interstate Bancsystem in the second quarter valued at $82,000. 50.09% of the stock is currently owned by institutional investors.
Shares of NASDAQ FIBK opened at $29.11 on Friday. The firm’s 50-day moving average price is $30.22 and its 200-day moving average price is $32.46. First Interstate Bancsystem Inc has a 1-year low of $24.50 and a 1-year high of $43.83. The firm has a market capitalization of $1.88 billion, a P/E ratio of 11.24 and a beta of 1.14. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.05.
First Interstate Bancsystem (NASDAQ:FIBK) last announced its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.10. First Interstate Bancsystem had a net margin of 23.56% and a return on equity of 8.61%. The firm had revenue of $162.20 million for the quarter, compared to analyst estimates of $164.47 million. Equities research analysts forecast that First Interstate Bancsystem Inc will post 2.38 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, August 7th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.67%. First Interstate Bancsystem’s dividend payout ratio is presently 44.30%.
In related news, Director Ross E. Leckie sold 1,440 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $32.42, for a total value of $46,684.80. Following the sale, the director now owns 8,028 shares in the company, valued at approximately $260,267.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin P. Riley bought 2,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average price of $34.13 per share, for a total transaction of $68,260.00. Following the acquisition, the chief executive officer now directly owns 26,791 shares in the company, valued at $914,376.83. The disclosure for this purchase can be found here. Corporate insiders own 21.99% of the company’s stock.
Several research firms recently issued reports on FIBK. Piper Sandler boosted their target price on shares of First Interstate Bancsystem from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday. Wells Fargo & Co boosted their target price on shares of First Interstate Bancsystem from $28.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, May 4th. BidaskClub lowered shares of First Interstate Bancsystem from a “sell” rating to a “strong sell” rating in a report on Friday, July 10th. Zacks Investment Research upgraded shares of First Interstate Bancsystem from a “sell” rating to a “hold” rating in a report on Thursday. Finally, ValuEngine upgraded shares of First Interstate Bancsystem from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $37.33.
First Interstate Bancsystem Profile
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.
Featured Story: Price Target
Receive News & Ratings for First Interstate Bancsystem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Interstate Bancsystem and related companies with MarketBeat.com's FREE daily email newsletter.