Brokerages Set First Interstate BancSystem, Inc. (NASDAQ:FIBK) Price Target at $36.14

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

A number of research analysts have recently commented on the company. UBS Group assumed coverage on First Interstate BancSystem in a report on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 price objective on the stock. Stephens dropped 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. StockNews.com downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Tuesday, December 24th. Keefe, Bruyette & Woods increased their price objective on First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company increased their price objective on First Interstate BancSystem from $29.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, February 3rd.

First Interstate BancSystem Price Performance

FIBK stock opened at $31.13 on Wednesday. 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 $3.25 billion, a P/E ratio of 14.22 and a beta of 0.85. The business’s 50-day moving average is $32.51 and its two-hundred day moving average is $31.73. First Interstate BancSystem has a 1 year low of $24.16 and a 1 year high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating 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%. Analysts anticipate that First Interstate BancSystem will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.88 dividend on an annualized basis and a yield of 6.04%. First Interstate BancSystem’s dividend payout ratio is presently 85.85%.

Insider Buying and Selling

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of First Interstate BancSystem stock in a transaction that occurred 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 transaction, the director now directly owns 1,414,886 shares in the company, valued at approximately $46,068,688.16. This trade represents a 0.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. TNF LLC lifted its holdings in shares of First Interstate BancSystem by 1.5% in the 3rd quarter. TNF LLC now owns 25,376 shares of the financial services provider’s stock valued at $812,000 after buying an additional 367 shares during the period. Wrapmanager Inc. lifted its holdings in shares of First Interstate BancSystem by 5.0% in the 3rd quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider’s stock valued at $275,000 after buying an additional 429 shares during the period. Evergreen Capital Management LLC raised its holdings in First Interstate BancSystem by 1.9% during the fourth quarter. Evergreen Capital Management LLC now owns 24,580 shares of the financial services provider’s stock worth $798,000 after purchasing an additional 468 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in First Interstate BancSystem by 5.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider’s stock worth $311,000 after purchasing an additional 507 shares during the last quarter. Finally, Covestor Ltd raised its holdings in First Interstate BancSystem by 25.8% during 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. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

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.