Virginia Retirement Systems ET AL purchased a new stake in First Interstate Bancsystem Inc (NASDAQ:FIBK) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 17,700 shares of the financial services provider’s stock, valued at approximately $701,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. CAPROCK Group Inc. purchased a new position in First Interstate Bancsystem in the second quarter worth $299,000. Allied Investment Advisors LLC grew its holdings in First Interstate Bancsystem by 6.1% in the second quarter. Allied Investment Advisors LLC now owns 9,282 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 530 shares during the last quarter. JGP Wealth Management LLC acquired a new stake in First Interstate Bancsystem in the second quarter valued at $397,000. Denali Advisors LLC grew its holdings in First Interstate Bancsystem by 225.9% in the second quarter. Denali Advisors LLC now owns 21,700 shares of the financial services provider’s stock valued at $860,000 after purchasing an additional 15,041 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in First Interstate Bancsystem by 12.5% in the first 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 last quarter. 52.31% of the stock is owned by hedge funds and other institutional investors.

FIBK opened at $39.00 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 13.36, a P/E/G ratio of 1.42 and a beta of 1.18. First Interstate Bancsystem Inc has a 52 week low of $34.61 and a 52 week high of $47.05. The firm’s fifty day moving average is $39.19.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Investors of record on Thursday, August 8th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.18%. This is a positive change from First Interstate Bancsystem’s previous quarterly dividend of $0.20. First Interstate Bancsystem’s dividend payout ratio (DPR) is presently 42.47%.

In other First Interstate Bancsystem news, Director Peter I. Wold purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were purchased at an average cost of $37.81 per share, with a total value of $37,810.00. Following the purchase, the director now owns 3,707 shares in the company, valued at $140,161.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin P. Riley sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $39.36, for a total value of $196,800.00. Following the completion of the sale, the chief executive officer now directly owns 21,880 shares in the company, valued at $861,196.80. The disclosure for this sale can be found here. 24.93% of the stock is owned by company insiders.

FIBK has been the topic of several research reports. Zacks Investment Research lowered First Interstate Bancsystem from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. BidaskClub raised First Interstate Bancsystem from a “hold” rating to a “buy” rating in a report on Saturday, August 3rd. Finally, ValuEngine lowered First Interstate Bancsystem from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $43.98.

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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