First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives Average Rating of “Hold” from Brokerages

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBKGet Rating) have been assigned a consensus rating of “Hold” from the seven analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $47.40.

A number of equities analysts have recently issued reports on FIBK shares. StockNews.com downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Wednesday, October 26th. Wells Fargo & Company raised their price objective on First Interstate BancSystem from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, October 6th. Piper Sandler raised their price objective on First Interstate BancSystem to $54.00 in a research report on Friday, September 30th. TheStreet upgraded First Interstate BancSystem from a “c” rating to a “b” rating in a research report on Monday, August 29th. Finally, Stephens raised their price objective on First Interstate BancSystem from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Monday, October 31st.

First Interstate BancSystem Price Performance

First Interstate BancSystem stock opened at $43.98 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $4.59 billion, a PE ratio of 23.65 and a beta of 0.91. First Interstate BancSystem has a 12 month low of $32.40 and a 12 month high of $46.34. The stock has a 50-day moving average price of $43.22 and a two-hundred day moving average price of $40.11.

First Interstate BancSystem (NASDAQ:FIBKGet Rating) last posted its earnings results on Wednesday, October 26th. The financial services provider reported $0.80 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.12). The firm had revenue of $291.80 million during the quarter, compared to the consensus estimate of $299.74 million. First Interstate BancSystem had a net margin of 16.71% and a return on equity of 9.58%. First Interstate BancSystem’s revenue for the quarter was up 75.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 earnings per share. Analysts expect that First Interstate BancSystem will post 3.11 EPS for the current year.

First Interstate BancSystem Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Tuesday, November 8th were issued a $0.47 dividend. This is an increase from First Interstate BancSystem’s previous quarterly dividend of $0.41. This represents a $1.88 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend was Monday, November 7th. First Interstate BancSystem’s payout ratio is presently 101.08%.

Insiders Place Their Bets

In other First Interstate BancSystem news, major shareholder James R. Scott, Jr. sold 10,130 shares of First Interstate BancSystem stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $45.00, for a total value of $455,850.00. Following the completion of the sale, the insider now directly owns 90,306 shares in the company, valued at $4,063,770. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other First Interstate BancSystem news, major shareholder James R. Scott, Jr. sold 10,130 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $45.00, for a total value of $455,850.00. Following the completion of the sale, the insider now owns 90,306 shares of the company’s stock, valued at $4,063,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder James R. Scott, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $46.00, for a total value of $230,000.00. Following the completion of the sale, the insider now directly owns 85,306 shares of the company’s stock, valued at approximately $3,924,076. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,482 shares of company stock worth $2,302,094. 6.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Interstate BancSystem

A number of hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new position in shares of First Interstate BancSystem during the first quarter valued at approximately $30,000. Fisher Asset Management LLC boosted its position in shares of First Interstate BancSystem by 50.0% during the first quarter. Fisher Asset Management LLC now owns 183,008 shares of the financial services provider’s stock valued at $6,729,000 after buying an additional 61,008 shares during the last quarter. Naples Global Advisors LLC boosted its position in shares of First Interstate BancSystem by 14.1% during the second quarter. Naples Global Advisors LLC now owns 26,850 shares of the financial services provider’s stock valued at $1,023,000 after buying an additional 3,325 shares during the last quarter. Kennedy Capital Management Inc. boosted its position in shares of First Interstate BancSystem by 3.3% during the second quarter. Kennedy Capital Management Inc. now owns 885,648 shares of the financial services provider’s stock valued at $33,752,000 after buying an additional 28,456 shares during the last quarter. Finally, Leeward Investments LLC MA purchased a new position in shares of First Interstate BancSystem during the first quarter valued at approximately $21,591,000. Institutional investors and hedge funds own 84.37% of the company’s stock.

First Interstate BancSystem Company Profile

(Get Rating)

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.

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