First Interstate BancSystem, Inc. (NASDAQ:FIBK) Given Average Rating of “Hold” by Analysts

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have earned an average rating of “Hold” from the seven analysts that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $35.00.

FIBK has been the topic of several recent analyst reports. DA Davidson raised shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and increased their target price for the company from $32.00 to $42.00 in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods increased their price objective on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. UBS Group initiated coverage on shares of First Interstate BancSystem in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 price objective for the company. Piper Sandler cut 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, StockNews.com lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Tuesday, December 24th.

First Interstate BancSystem Trading Down 0.1 %

FIBK opened at $32.19 on Tuesday. The stock has a 50-day moving average of $33.24 and a 200 day moving average of $31.04. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem has a 12 month low of $24.16 and a 12 month high of $36.77. The firm has a market cap of $3.36 billion, a P/E ratio of 14.12 and a beta of 0.84.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS 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 previous year, the firm posted $0.70 earnings per share. As a group, research analysts forecast that First Interstate BancSystem will post 2.28 EPS for the current year.

First Interstate BancSystem Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 5.84%. The ex-dividend date of this dividend was Monday, November 4th. First Interstate BancSystem’s dividend payout ratio is 82.46%.

Insider Activity

In other news, Director Jonathan R. Scott sold 6,500 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total transaction of $222,170.00. Following the transaction, the director now directly owns 958,710 shares in the company, valued at approximately $32,768,707.80. This trade represents a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Julie A. Scott sold 20,220 shares of First Interstate BancSystem stock in a transaction that occurred on Friday, November 8th. The shares were 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 approximately $20,817,561.82. The trade was a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,837 shares of company stock worth $1,839,583. Company insiders own 6.90% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in shares of First Interstate BancSystem by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,992,873 shares of the financial services provider’s stock worth $61,152,000 after purchasing an additional 59,367 shares during the last quarter. Barclays PLC lifted its position in shares of First Interstate BancSystem by 18.6% during the third quarter. Barclays PLC now owns 206,213 shares of the financial services provider’s stock valued at $6,326,000 after buying an additional 32,298 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of First Interstate BancSystem by 13.9% in the 3rd quarter. Jane Street Group LLC now owns 188,084 shares of the financial services provider’s stock valued at $5,770,000 after buying an additional 22,899 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of First Interstate BancSystem by 6.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,288,214 shares of the financial services provider’s stock valued at $39,522,000 after buying an additional 78,596 shares in the last quarter. Finally, Systematic Financial Management LP purchased a new position in shares of First Interstate BancSystem in the 3rd quarter worth approximately $840,000. Institutional investors own 88.71% of the company’s stock.

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.