Brokerages Set First Interstate BancSystem, Inc. (NASDAQ:FIBK) Target Price at $35.14

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has been assigned an average rating of “Hold” from the seven research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $35.1429.

FIBK has been the subject of several research reports. Barclays raised shares of First Interstate BancSystem from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $28.00 to $32.00 in a research note on Tuesday, July 8th. DA Davidson increased their price objective on shares of First Interstate BancSystem from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Wells Fargo & Company increased their price objective on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. Wall Street Zen downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Monday, August 11th. Finally, Keefe, Bruyette & Woods raised shares of First Interstate BancSystem from a “hold” rating to a “moderate buy” rating and set a $32.00 price objective for the company in a research note on Monday, June 23rd.

Insider Buying and Selling at First Interstate BancSystem

In related news, Director John M. Heyneman, Jr. sold 11,818 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $30.18, for a total value of $356,667.24. Following the sale, the director owned 5,224 shares of the company’s stock, valued at $157,660.32. The trade was a 69.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Susan Scott Heyneman Trust, Su sold 10,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $31.59, for a total transaction of $315,900.00. Following the completion of the sale, the insider directly owned 244,460 shares in the company, valued at approximately $7,722,491.40. This represents a 3.93% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 131,818 shares of company stock worth $3,915,917. 8.20% of the stock is currently owned by insiders.

Institutional Trading of First Interstate BancSystem

Institutional investors have recently modified their holdings of the business. Cullen Capital Management LLC increased its position in shares of First Interstate BancSystem by 9.1% during the second quarter. Cullen Capital Management LLC now owns 19,877 shares of the financial services provider’s stock worth $573,000 after buying an additional 1,663 shares during the period. American Trust acquired a new stake in shares of First Interstate BancSystem during the second quarter worth $823,000. Kestra Investment Management LLC increased its position in shares of First Interstate BancSystem by 26.7% during the second quarter. Kestra Investment Management LLC now owns 37,886 shares of the financial services provider’s stock worth $1,092,000 after buying an additional 7,973 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of First Interstate BancSystem by 6.0% during the second quarter. CANADA LIFE ASSURANCE Co now owns 25,125 shares of the financial services provider’s stock worth $724,000 after buying an additional 1,415 shares during the period. Finally, Captrust Financial Advisors acquired a new stake in shares of First Interstate BancSystem during the second quarter worth $216,000. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Stock Performance

Shares of First Interstate BancSystem stock opened at $32.00 on Thursday. The company has a market cap of $3.36 billion, a PE ratio of 14.41 and a beta of 0.79. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average of $31.41 and a 200-day moving average of $29.06. First Interstate BancSystem has a 1-year low of $22.95 and a 1-year high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.57 by $0.12. The business had revenue of $248.30 million during the quarter, compared to the consensus estimate of $253.73 million. First Interstate BancSystem had a net margin of 16.04% and a return on equity of 6.82%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.58 EPS. As a group, equities research analysts forecast that First Interstate BancSystem will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Monday, August 11th were paid a $0.47 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.88 annualized dividend and a dividend yield of 5.9%. First Interstate BancSystem’s payout ratio is currently 84.68%.

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.