First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives $32.50 Average Price Target from Analysts

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have earned a consensus rating of “Hold” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $32.50.

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods increased their target price on First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. StockNews.com raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Company lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $30.00 to $28.00 in a report on Tuesday, October 1st. Barclays downgraded shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $32.00 to $30.00 in a report on Thursday, October 31st. Finally, Stephens reaffirmed an “overweight” rating and set a $36.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, October 10th.

First Interstate BancSystem Price Performance

Shares of First Interstate BancSystem stock opened at $33.51 on Monday. The firm has a fifty day moving average price of $30.87 and a two-hundred day moving average price of $29.19. First Interstate BancSystem has a fifty-two week low of $24.16 and a fifty-two week high of $34.53. 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 company has a market cap of $3.50 billion, a PE ratio of 14.70 and a beta of 0.81.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share for the quarter, missing the consensus estimate 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 in the prior year, the firm posted $0.70 earnings per share. Analysts expect that First Interstate BancSystem will post 2.28 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be given a $0.47 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.88 dividend on an annualized basis and a yield of 5.61%. First Interstate BancSystem’s payout ratio is 82.46%.

Insider Activity

In other news, major shareholder Julie A. Scott sold 22,050 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $33.80, for a total transaction of $745,290.00. Following the transaction, the insider now owns 613,019 shares of the company’s stock, valued at $20,720,042.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 value of $745,290.00. Following the sale, the insider now directly owns 613,019 shares in the company, valued at $20,720,042.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Julie A. Scott sold 20,220 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $32.78, for a total transaction of $662,811.60. Following the completion of the sale, the insider now owns 635,069 shares in the company, valued at approximately $20,817,561.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,820 shares of company stock valued at $1,424,926. Company insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC grew its holdings in shares of First Interstate BancSystem by 16.0% in the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 430 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of First Interstate BancSystem in the 2nd quarter valued at approximately $106,000. nVerses Capital LLC grew its stake in shares of First Interstate BancSystem by 412.5% in the second quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock valued at $114,000 after buying an additional 3,300 shares in the last quarter. Telos Capital Management Inc. acquired a new position in First Interstate BancSystem during the third quarter worth $201,000. Finally, Washington Trust Bank bought a new stake in First Interstate BancSystem during the second quarter worth $204,000. 88.71% of the stock is owned by institutional investors and hedge funds.

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.