First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives $35.14 Average Price Target from Brokerages

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have been assigned a consensus recommendation of “Hold” from the seven analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $35.14.

FIBK has been the topic of a number of research analyst reports. DA Davidson raised First Interstate BancSystem from a “neutral” rating to a “buy” rating and raised their price target for the stock from $32.00 to $42.00 in a research note on Tuesday, November 26th. Barclays increased their price target on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the stock an “underweight” rating in a research note on Thursday, December 5th. UBS Group assumed coverage on shares of First Interstate BancSystem in a research note on Tuesday, December 17th. They set a “neutral” rating and a $35.00 price objective for the company. StockNews.com lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Tuesday, December 24th. Finally, Wells Fargo & Company boosted their target price on First Interstate BancSystem from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd.

Insiders Place Their Bets

In other news, major shareholder Julie A. Scott sold 22,050 shares of the company’s stock in a transaction dated 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 owns 613,019 shares in the company, valued at approximately $20,720,042.20. This represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan R. Scott sold 6,500 shares of First Interstate BancSystem stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total value of $222,170.00. Following the completion of the transaction, the director now owns 958,710 shares of the company’s stock, valued at $32,768,707.80. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,837 shares of company stock worth $1,839,583 in the last three months. 6.90% of the stock is owned by insiders.

Hedge Funds Weigh In On First Interstate BancSystem

Several institutional investors have recently modified their holdings of the company. Point72 DIFC Ltd bought a new position in First Interstate BancSystem during the third quarter valued at about $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in First Interstate BancSystem in the 3rd quarter worth approximately $69,000. nVerses Capital LLC raised its stake in shares of First Interstate BancSystem by 412.5% during the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 3,300 shares in the last quarter. CWM LLC increased its stake in shares of 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 purchasing an additional 2,029 shares during the last quarter. Finally, Telos Capital Management Inc. bought a new position in First Interstate BancSystem during the third quarter valued at about $201,000. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Price Performance

FIBK stock opened at $31.96 on Tuesday. The firm has a 50 day moving average of $33.21 and a 200-day moving average of $30.88. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 14.02 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. 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 released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS 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 last year, the business earned $0.70 earnings per share. As a group, equities analysts expect that First Interstate BancSystem will post 2.28 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 5.88%. The ex-dividend date was Monday, November 4th. First Interstate BancSystem’s dividend payout ratio is currently 82.46%.

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.