First Interstate BancSystem, Inc. (NASDAQ:FIBK) Given Consensus Recommendation of “Hold” by Brokerages

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has received an average recommendation of “Hold” from the seven analysts that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $36.14.

Several research analysts recently issued reports on the company. UBS Group started coverage on First Interstate BancSystem in a research report on Tuesday, December 17th. They set a “neutral” rating and a $35.00 target price for the company. Piper Sandler lowered their price objective on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Barclays upped their target price on First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. Keefe, Bruyette & Woods boosted their price target 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. Finally, Stephens decreased their price objective on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 31st.

Insider Activity

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $32.56, for a total transaction of $43,467.60. Following the completion of the sale, the director now owns 1,414,886 shares in the company, valued at $46,068,688.16. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 6.90% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Several hedge funds have recently bought and sold shares of FIBK. Wood Tarver Financial Group LLC bought a new position in shares of First Interstate BancSystem in the fourth quarter valued at $26,000. Point72 DIFC Ltd bought a new position in First Interstate BancSystem in the 3rd quarter valued at about $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in First Interstate BancSystem during the 3rd quarter valued at about $69,000. Meeder Asset Management Inc. bought a new stake in First Interstate BancSystem during the 4th quarter worth approximately $69,000. Finally, Covestor Ltd raised its stake in shares of First Interstate BancSystem by 25.8% in the fourth quarter. Covestor Ltd now owns 2,485 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 510 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 FIBK stock opened at $28.85 on Friday. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 13.17 and a beta of 0.84. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. The business’s 50-day moving average price is $31.47 and its 200-day moving average price is $31.81. First Interstate BancSystem has a 12 month low of $24.16 and a 12 month high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates 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 research analysts forecast that First Interstate BancSystem will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date of this dividend was Monday, February 10th. First Interstate BancSystem’s payout ratio is 85.84%.

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.