Peregrine Capital Management LLC Boosts Holdings in First Interstate Bancsystem Inc (NASDAQ:FIBK)

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Peregrine Capital Management LLC grew its stake in shares of First Interstate Bancsystem Inc (NASDAQ:FIBK) by 1.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 177,819 shares of the financial services provider’s stock after buying an additional 2,525 shares during the period. Peregrine Capital Management LLC’s holdings in First Interstate Bancsystem were worth $5,505,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Macquarie Group Ltd. raised its position in shares of First Interstate Bancsystem by 6.5% during the 4th quarter. Macquarie Group Ltd. now owns 2,888,972 shares of the financial services provider’s stock valued at $121,106,000 after buying an additional 175,760 shares in the last quarter. Wellington Management Group LLP raised its position in shares of First Interstate Bancsystem by 7.5% during the 1st quarter. Wellington Management Group LLP now owns 2,211,753 shares of the financial services provider’s stock valued at $63,787,000 after buying an additional 153,510 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of First Interstate Bancsystem by 65.9% during the 1st quarter. Thrivent Financial for Lutherans now owns 1,172,707 shares of the financial services provider’s stock valued at $33,821,000 after buying an additional 466,033 shares in the last quarter. Advisory Research Inc. raised its position in shares of First Interstate Bancsystem by 37.6% during the 1st quarter. Advisory Research Inc. now owns 685,521 shares of the financial services provider’s stock valued at $19,770,000 after buying an additional 187,259 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of First Interstate Bancsystem by 8.4% during the 1st quarter. Geode Capital Management LLC now owns 592,457 shares of the financial services provider’s stock valued at $17,086,000 after buying an additional 45,839 shares in the last quarter. Hedge funds and other institutional investors own 50.09% of the company’s stock.

FIBK stock opened at $29.11 on Friday. The company has a market capitalization of $1.88 billion, a PE ratio of 11.24 and a beta of 1.14. The company’s fifty day moving average price is $30.22 and its 200-day moving average price is $32.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.79 and a current ratio of 0.79. First Interstate Bancsystem Inc has a one year low of $24.50 and a one year high of $43.83.

First Interstate Bancsystem (NASDAQ:FIBK) last announced its earnings results on Monday, July 27th. The financial services provider reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $162.20 million for the quarter, compared to the consensus estimate of $164.47 million. On average, research analysts predict that First Interstate Bancsystem Inc will post 2.38 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, August 7th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 4.67%. The ex-dividend date of this dividend is Thursday, August 6th. First Interstate Bancsystem’s dividend payout ratio is currently 44.30%.

FIBK has been the topic of several research reports. ValuEngine upgraded shares of First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Piper Sandler increased 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 raised their price target on shares of First Interstate Bancsystem from $28.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Zacks Investment Research raised shares of First Interstate Bancsystem from a “sell” rating to a “hold” rating in a report on Thursday. Finally, BidaskClub lowered shares of First Interstate Bancsystem from a “sell” rating to a “strong sell” rating in a research note on Friday, July 10th. One investment 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 has a consensus rating of “Hold” and a consensus price target of $37.33.

In other 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 transaction, the director now directly owns 8,028 shares in the company, valued at $260,267.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kevin P. Riley purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was bought at an average price of $34.13 per share, for a total transaction of $68,260.00. Following the completion of the acquisition, the chief executive officer now owns 26,791 shares of the company’s stock, valued at approximately $914,376.83. The disclosure for this purchase can be found here. Corporate insiders own 21.99% 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. 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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