Analysts Set First Interstate BancSystem, Inc. (NASDAQ:FIBK) Price Target at $35.17

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has been assigned an average recommendation of “Hold” from the six research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $35.17.

FIBK has been the topic of a number of recent analyst reports. StockNews.com raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Keefe, Bruyette & Woods increased their price target on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Stephens reaffirmed an “overweight” rating and set a $36.00 price objective on shares of First Interstate BancSystem in a report on Thursday, October 10th. Piper Sandler reduced their target price on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Finally, Barclays raised their price target on First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th.

First Interstate BancSystem Trading Down 0.9 %

First Interstate BancSystem stock opened at $33.95 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. First Interstate BancSystem has a fifty-two week low of $24.16 and a fifty-two week high of $36.77. The stock has a market cap of $3.55 billion, a P/E ratio of 14.89 and a beta of 0.84. The firm’s fifty day moving average price is $32.51 and its 200-day moving average price is $30.13.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same period in the prior year, the business earned $0.70 earnings per share. Equities research analysts forecast that First Interstate BancSystem will post 2.28 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 5.54%. The ex-dividend date of this dividend was Monday, November 4th. First Interstate BancSystem’s dividend payout ratio is currently 82.46%.

Insider Buying and Selling

In related news, major shareholder Julie A. Scott sold 20,220 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $32.78, for a total transaction of $662,811.60. Following the transaction, the insider now directly owns 635,069 shares in the company, valued at $20,817,561.82. This trade represents a 3.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of First Interstate BancSystem stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $34.50, for a total value of $209,311.50. Following the completion of the transaction, the insider now directly owns 75,387 shares in the company, valued at $2,600,851.50. This trade represents a 7.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,837 shares of company stock worth $1,839,583 in the last 90 days. 6.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Interstate BancSystem

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new position in First Interstate BancSystem during the 3rd quarter valued at approximately $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of First Interstate BancSystem during the third quarter valued at approximately $69,000. CWM LLC raised its holdings in shares of First Interstate BancSystem by 16.0% during the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 430 shares in the last quarter. Innealta Capital LLC purchased a new stake in First Interstate BancSystem in the second quarter worth $106,000. Finally, nVerses Capital LLC boosted its holdings in First Interstate BancSystem by 412.5% in the second quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 3,300 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors.

First Interstate BancSystem Company 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.