Analysts Set First Interstate BancSystem, Inc. (NASDAQ:FIBK) Target Price at $35.43

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has received a consensus recommendation of “Hold” from the seven ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $35.4286.

A number of research analysts have recently weighed in on the company. Barclays lifted their price target on First Interstate BancSystem from $31.00 to $34.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Wall Street Zen downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Monday, August 11th. Wells Fargo & Company lifted their price objective on First Interstate BancSystem from $28.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of First Interstate BancSystem in a research report on Wednesday, October 8th. Finally, DA Davidson lifted their price objective on First Interstate BancSystem from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, September 12th.

Insiders Place Their Bets

In other First Interstate BancSystem news, major shareholder Jonathan R. Scott sold 7,000 shares of the business’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $32.09, for a total value of $224,630.00. Following the completion of the sale, the insider owned 945,824 shares of the company’s stock, valued at $30,351,492.16. The trade was a 0.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John M. Heyneman, Jr. sold 11,818 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $30.18, for a total value of $356,667.24. Following the completion of the sale, the director directly owned 5,224 shares of the company’s stock, valued at $157,660.32. This represents a 69.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 103,818 shares of company stock valued at $3,070,555 over the last quarter. Insiders own 8.20% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Institutional investors and hedge funds have recently made changes to their positions in the stock. First Horizon Corp acquired a new stake in shares of First Interstate BancSystem in the third quarter worth about $26,000. GAMMA Investing LLC lifted its position in shares of First Interstate BancSystem by 186.5% during the 2nd quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 647 shares during the last quarter. JNBA Financial Advisors acquired a new position in shares of First Interstate BancSystem during the 1st quarter worth about $29,000. Quarry LP lifted its position in shares of First Interstate BancSystem by 63.8% during the 1st quarter. Quarry LP now owns 1,155 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 450 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of First Interstate BancSystem by 139.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 862 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Stock Performance

Shares of NASDAQ FIBK opened at $32.11 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 14.46 and a beta of 0.79. The stock’s fifty day simple moving average is $32.02 and its 200 day simple moving average is $29.61. First Interstate BancSystem has a 52-week low of $22.95 and a 52-week high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. First Interstate BancSystem had a return on equity of 6.82% and a net margin of 16.04%.During the same quarter in the prior year, the business earned $0.54 EPS. As a group, sell-side analysts forecast that First Interstate BancSystem will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, November 10th will be given a $0.47 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.9%. First Interstate BancSystem’s payout ratio is currently 84.68%.

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. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.