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

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have received an average rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $35.14.

FIBK has been the subject of several research reports. StockNews.com cut First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Tuesday, December 24th. Piper Sandler dropped their target price on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Stephens reissued an “overweight” rating and issued a $36.00 target price on shares of First Interstate BancSystem in a research report on Thursday, October 10th. Keefe, Bruyette & Woods raised 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, UBS Group initiated 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 for the company.

First Interstate BancSystem Price Performance

Shares of FIBK opened at $32.51 on Tuesday. The company’s 50-day moving average is $33.18 and its 200-day moving average is $30.81. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $3.40 billion, a PE ratio of 14.26 and a beta of 0.84. First Interstate BancSystem has a fifty-two week low of $24.16 and a fifty-two week high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same quarter last year, the business posted $0.70 earnings per share. Equities analysts forecast that First Interstate BancSystem will post 2.28 EPS for the current year.

First Interstate BancSystem Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.88 dividend on an annualized basis and a yield of 5.78%. First Interstate BancSystem’s payout ratio is 82.46%.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder James R. Scott, Jr. sold 6,067 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $34.50, for a total value of $209,311.50. Following the sale, the insider now owns 75,387 shares of the company’s stock, valued at approximately $2,600,851.50. This trade represents a 7.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Julie A. Scott sold 20,220 shares of First Interstate BancSystem stock in a transaction on Friday, November 8th. The shares were sold at an average price of $32.78, for a total value of $662,811.60. Following the completion of the transaction, the insider now owns 635,069 shares in the company, valued at approximately $20,817,561.82. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,837 shares of company stock valued at $1,839,583 in the last ninety days. 6.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 DIFC Ltd bought a new stake in shares of First Interstate BancSystem during the 3rd quarter valued at approximately $34,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of First Interstate BancSystem during the third quarter worth $69,000. nVerses Capital LLC increased its holdings in shares of First Interstate BancSystem by 412.5% during the second quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock worth $114,000 after buying an additional 3,300 shares in the last quarter. CWM LLC lifted its stake in shares of First Interstate BancSystem by 65.0% in the 3rd quarter. CWM LLC now owns 5,152 shares of the financial services provider’s stock valued at $158,000 after acquiring an additional 2,029 shares during the last quarter. Finally, Telos Capital Management Inc. acquired a new stake in shares of First Interstate BancSystem during the 3rd quarter valued at $201,000. Institutional investors 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.