Stephens Cuts First Interstate BancSystem (NASDAQ:FIBK) Price Target to $38.00

First Interstate BancSystem (NASDAQ:FIBK) had its price objective trimmed by Stephens from $39.00 to $38.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

A number of other research firms have also issued reports on FIBK. StockNews.com lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Tuesday, December 24th. DA Davidson reissued a “buy” rating and set a $42.00 price target on shares of First Interstate BancSystem in a report on Thursday. UBS Group began coverage on shares of First Interstate BancSystem in a report on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 price objective on the stock. Wells Fargo & Company reduced their target price on shares of First Interstate BancSystem from $30.00 to $29.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Finally, Barclays raised their price target on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research note on Thursday, December 5th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $35.29.

First Interstate BancSystem Stock Down 1.6 %

Shares of NASDAQ:FIBK opened at $32.95 on Friday. The company’s fifty day moving average is $33.10 and its two-hundred day moving average is $31.61. 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 1-year low of $24.16 and a 1-year high of $36.77. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 15.05 and a beta of 0.85.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. Equities analysts anticipate that First Interstate BancSystem will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Monday, February 10th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.88 annualized dividend and a yield of 5.71%. First Interstate BancSystem’s payout ratio is 85.85%.

Insiders Place Their Bets

In related news, major shareholder Julie A. Scott sold 22,050 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total transaction of $745,290.00. Following the completion of the sale, the insider now directly owns 613,019 shares of the company’s stock, valued at $20,720,042.20. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $209,311.50. Following the completion of the transaction, the insider now owns 75,387 shares in the company, valued at approximately $2,600,851.50. This trade represents a 7.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,837 shares of company stock worth $1,839,583 over the last ninety days. Company insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On First Interstate BancSystem

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new stake in shares of First Interstate BancSystem during the third quarter worth $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in First Interstate BancSystem in the 3rd quarter worth about $69,000. KBC Group NV increased its stake in First Interstate BancSystem by 34.1% in the 4th quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock worth $130,000 after purchasing an additional 1,022 shares in the last quarter. CWM LLC raised its holdings in First Interstate BancSystem by 65.0% during the 3rd quarter. CWM LLC now owns 5,152 shares of the financial services provider’s stock worth $158,000 after buying an additional 2,029 shares during the period. Finally, Telos Capital Management Inc. purchased a new stake in First Interstate BancSystem during the third quarter valued at about $201,000. Institutional investors and hedge funds 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.