First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives $35.57 Consensus Price Target from Brokerages

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have been assigned an average rating of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $36.5714.

A number of analysts have recently weighed in on the stock. UBS Group upped their price target on shares of First Interstate BancSystem from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. DA Davidson upped their target price on First Interstate BancSystem from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Barclays increased their price target on First Interstate BancSystem from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 11th. Wells Fargo & Company boosted their price objective on First Interstate BancSystem from $28.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. Finally, Keefe, Bruyette & Woods upped their price objective on First Interstate BancSystem from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday.

First Interstate BancSystem Price Performance

Shares of FIBK opened at $35.59 on Tuesday. First Interstate BancSystem has a one year low of $22.95 and a one year high of $36.35. The stock’s fifty day moving average is $32.39 and its 200-day moving average is $31.05. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.73 and a current ratio of 0.74. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 15.02 and a beta of 0.82.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Thursday, November 6th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter. The firm had revenue of $250.50 million during the quarter. First Interstate BancSystem had a net margin of 17.62% and a return on equity of 7.25%. Equities analysts anticipate that First Interstate BancSystem will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were given a dividend of $0.47 per share. The ex-dividend date was Monday, November 10th. This represents a $1.88 annualized dividend and a dividend yield of 5.3%. First Interstate BancSystem’s dividend payout ratio (DPR) is 79.32%.

Insider Transactions at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Jonathan R. Scott sold 13,715 shares of First Interstate BancSystem stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $32.09, for a total value of $440,114.35. Following the transaction, the insider owned 959,109 shares in the company, valued at approximately $30,777,807.81. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Susan Scott Heyneman Trust, Su sold 10,000 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $32.75, for a total value of $327,500.00. Following the completion of the transaction, the insider directly owned 224,460 shares in the company, valued at $7,351,065. This represents a 4.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 92,232 shares of company stock valued at $2,913,388 in the last quarter. Insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On First Interstate BancSystem

Hedge funds have recently modified their holdings of the stock. First Horizon Corp acquired a new position in First Interstate BancSystem during the third quarter valued at $26,000. GAMMA Investing LLC grew its stake in First Interstate BancSystem by 186.5% during the 2nd quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 647 shares in the last quarter. Quarry LP increased its holdings in shares of First Interstate BancSystem by 63.8% in the 1st quarter. Quarry LP now owns 1,155 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 450 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of First Interstate BancSystem by 139.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 862 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in shares of First Interstate BancSystem by 1,485.1% in the third quarter. Jones Financial Companies Lllp now owns 1,601 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 1,500 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

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.