NFJ Investment Group LLC Buys 30,885 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

NFJ Investment Group LLC boosted its holdings in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 87.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 66,078 shares of the financial services provider’s stock after purchasing an additional 30,885 shares during the quarter. NFJ Investment Group LLC’s holdings in First Interstate BancSystem were worth $2,765,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FIBK. First Trust Advisors LP raised its stake in First Interstate BancSystem by 12.5% during the 1st quarter. First Trust Advisors LP now owns 135,208 shares of the financial services provider’s stock valued at $5,384,000 after purchasing an additional 15,019 shares during the period. Victory Capital Management Inc. raised its stake in First Interstate BancSystem by 4.3% during the 1st quarter. Victory Capital Management Inc. now owns 11,122 shares of the financial services provider’s stock valued at $512,000 after purchasing an additional 454 shares during the period. D.A. Davidson & CO. raised its stake in First Interstate BancSystem by 7.9% during the 1st quarter. D.A. Davidson & CO. now owns 20,312 shares of the financial services provider’s stock valued at $935,000 after purchasing an additional 1,490 shares during the period. BNP Paribas Arbitrage SA raised its stake in First Interstate BancSystem by 125.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 17,981 shares of the financial services provider’s stock valued at $828,000 after purchasing an additional 10,000 shares during the period. Finally, BlackRock Inc. raised its stake in First Interstate BancSystem by 46.1% during the 1st quarter. BlackRock Inc. now owns 4,641,111 shares of the financial services provider’s stock valued at $213,676,000 after purchasing an additional 1,465,498 shares during the period. 50.59% of the stock is currently owned by institutional investors.

Shares of FIBK opened at $38.90 on Friday. The business’s 50 day moving average is $42.59 and its 200 day moving average is $44.80. The company has a market capitalization of $2.42 billion, a PE ratio of 12.80 and a beta of 1.14. First Interstate BancSystem, Inc. has a 12-month low of $30.02 and a 12-month high of $51.24. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.10.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Monday, July 26th. The financial services provider reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.03). The firm had revenue of $154.10 million for the quarter, compared to analysts’ expectations of $157.67 million. First Interstate BancSystem had a net margin of 28.51% and a return on equity of 9.65%. Equities research analysts predict that First Interstate BancSystem, Inc. will post 2.99 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 19th. Shareholders of record on Monday, August 9th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 4.22%. The ex-dividend date was Friday, August 6th. First Interstate BancSystem’s dividend payout ratio is presently 64.82%.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a financial holding company, which engages in the provision of community banking solutions. The firm offers commercial and consumer banking services to individuals, businesses, municipalities, and other entities. It also provides internet, mobile, and other banking and financial services.

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Institutional Ownership by Quarter for First Interstate BancSystem (NASDAQ:FIBK)

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