Peregrine Capital Management LLC Has $7.75 Million Stock Position in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Peregrine Capital Management LLC trimmed its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 24.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 251,871 shares of the financial services provider's stock after selling 83,138 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.24% of First Interstate BancSystem worth $7,745,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Captrust Financial Advisors boosted its stake in First Interstate BancSystem by 14.1% during the second quarter. Captrust Financial Advisors now owns 3,288 shares of the financial services provider's stock worth $125,000 after buying an additional 407 shares during the last quarter. Advisor Group Holdings Inc. boosted its stake in First Interstate BancSystem by 5.7% during the first quarter. Advisor Group Holdings Inc. now owns 7,822 shares of the financial services provider's stock worth $288,000 after buying an additional 422 shares during the last quarter. Mariner LLC boosted its stake in First Interstate BancSystem by 3.5% during the third quarter. Mariner LLC now owns 12,897 shares of the financial services provider's stock worth $322,000 after buying an additional 432 shares during the last quarter. Caprock Group LLC boosted its stake in First Interstate BancSystem by 1.8% during the fourth quarter. Caprock Group LLC now owns 24,814 shares of the financial services provider's stock worth $763,000 after buying an additional 443 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in First Interstate BancSystem by 0.4% during the third quarter. California State Teachers Retirement System now owns 116,182 shares of the financial services provider's stock worth $4,688,000 after buying an additional 510 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company's stock.

First Interstate BancSystem Trading Down 7.5 %

Shares of First Interstate BancSystem stock traded down $2.03 during trading hours on Wednesday, hitting $24.97. The company's stock had a trading volume of 986,380 shares, compared to its average volume of 858,455. First Interstate BancSystem, Inc. has a twelve month low of $20.81 and a twelve month high of $32.54. The firm has a fifty day moving average of $26.24 and a 200-day moving average of $26.62. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 10.07 and a beta of 0.87. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.76 and a current ratio of 0.77.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. First Interstate BancSystem had a return on equity of 8.47% and a net margin of 18.04%. The business had revenue of $252.30 million for the quarter, compared to analyst estimates of $254.50 million. Research analysts forecast that First Interstate BancSystem, Inc. will post 2.17 EPS for the current year.

First Interstate BancSystem Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 19th. Investors of record on Friday, February 9th were paid a dividend of $0.47 per share. This is a positive change from First Interstate BancSystem's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.88 annualized dividend and a yield of 7.53%. First Interstate BancSystem's dividend payout ratio is presently 75.81%.

Insider Buying and Selling

In related news, EVP Karlyn M. Knieriem sold 2,900 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $26.76, for a total transaction of $77,604.00. Following the transaction, the executive vice president now owns 20,599 shares of the company's stock, valued at approximately $551,229.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Karlyn M. Knieriem sold 2,900 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $26.76, for a total transaction of $77,604.00. Following the transaction, the executive vice president now owns 20,599 shares of the company's stock, valued at approximately $551,229.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Kristina Robbins sold 2,710 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $25.83, for a total value of $69,999.30. Following the transaction, the executive vice president now directly owns 9,047 shares in the company, valued at approximately $233,684.01. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,531 shares of company stock valued at $197,645. Corporate insiders own 6.80% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on First Interstate BancSystem from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Barclays assumed coverage on First Interstate BancSystem in a research note on Friday, March 8th. They issued an "equal weight" rating and a $28.00 price target on the stock. Finally, TheStreet lowered First Interstate BancSystem from a "b-" rating to a "c+" rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $29.00.

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