First Interstate BancSystem (NASDAQ:FIBK) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of First Interstate BancSystem (NASDAQ:FIBK) from a sell rating to a hold rating in a report issued on Monday.

FIBK has been the topic of a number of other research reports. Keefe, Bruyette & Woods lifted their price target on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company boosted their target price on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. Piper Sandler decreased their price target on shares of First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Stephens lowered their price objective on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, UBS Group started coverage on First Interstate BancSystem in a report on Tuesday, December 17th. They set a “neutral” rating and a $35.00 target price for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $36.14.

First Interstate BancSystem Trading Down 0.3 %

Shares of First Interstate BancSystem stock opened at $30.60 on Monday. The firm has a 50-day simple moving average of $32.19 and a two-hundred day simple moving average of $31.91. 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 fifty-two week low of $24.16 and a fifty-two week high of $36.77. The company has a market cap of $3.20 billion, a P/E ratio of 13.97 and a beta of 0.85.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly 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 return on equity of 6.92% and a net margin of 15.94%. As a group, equities analysts predict that First Interstate BancSystem will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.88 annualized dividend and a dividend yield of 6.14%. First Interstate BancSystem’s dividend payout ratio is presently 85.84%.

Insider Buying and Selling

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $32.56, for a total value of $43,467.60. Following the completion of the sale, the director now directly owns 1,414,886 shares of the company’s stock, valued at $46,068,688.16. This trade represents a 0.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Point72 DIFC Ltd acquired a new position in First Interstate BancSystem in the 3rd quarter valued at about $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in First Interstate BancSystem in the third quarter valued at $69,000. Meeder Asset Management Inc. acquired a new position in shares of First Interstate BancSystem in the 4th quarter valued at $69,000. Covestor Ltd lifted its stake in shares of First Interstate BancSystem by 25.8% in the 4th quarter. Covestor Ltd now owns 2,485 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 510 shares during the last quarter. Finally, Sterling Capital Management LLC raised its holdings in First Interstate BancSystem by 826.3% in the 4th quarter. Sterling Capital Management LLC now owns 2,501 shares of the financial services provider’s stock valued at $81,000 after buying an additional 2,231 shares during the period. Institutional investors and hedge funds own 88.71% of the company’s stock.

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.