First Interstate BancSystem (NASDAQ:FIBK) Sets New 52-Week Low at $29.50

First Interstate BancSystem, Inc. (NASDAQ:FIBK – Get Rating) reached a new 52-week low during trading on Wednesday . The stock traded as low as $29.50 and last traded at $30.69, with a volume of 88389 shares trading hands. The stock had previously closed at $31.17.

Wall Street Analyst Weigh In

FIBK has been the subject of several recent research reports. Wells Fargo & Company lowered their price objective on shares of First Interstate BancSystem from $48.00 to $42.00 and set an “overweight” rating for the company in a research note on Monday, January 30th. Janney Montgomery Scott lowered shares of First Interstate BancSystem from a “buy” rating to a “neutral” rating in a research note on Monday, January 30th. Keefe, Bruyette & Woods downgraded shares of First Interstate BancSystem from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $49.00 to $38.00 in a research note on Monday, January 30th. Stephens upgraded shares of First Interstate BancSystem from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $44.00 to $43.00 in a research note on Wednesday, February 1st. Finally, StockNews.com began coverage on shares of First Interstate BancSystem in a research note on Thursday. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $42.00.

First Interstate BancSystem Stock Up 1.1 %

The business’s 50 day moving average is $36.20 and its 200-day moving average is $39.80. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $3.31 billion, a PE ratio of 17.15 and a beta of 0.86.

First Interstate BancSystem Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 17th. Stockholders of record on Tuesday, February 7th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, February 6th. This represents a $1.88 annualized dividend and a dividend yield of 5.93%. First Interstate BancSystem’s dividend payout ratio is presently 101.62%.

Insider Transactions at First Interstate BancSystem

In other news, Director James Brannen sold 9,300 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $36.71, for a total transaction of $341,403.00. Following the completion of the sale, the director now owns 8,385 shares in the company, valued at approximately $307,813.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Julie A. Scott sold 288,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $35.63, for a total transaction of $10,261,440.00. Following the completion of the sale, the director now owns 2,517,351 shares in the company, valued at approximately $89,693,216.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Brannen sold 9,300 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $36.71, for a total transaction of $341,403.00. Following the sale, the director now owns 8,385 shares of the company’s stock, valued at approximately $307,813.35. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of First Interstate BancSystem by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 8,723,142 shares of the financial services provider’s stock worth $351,979,000 after buying an additional 192,944 shares during the last quarter. BlackRock Inc. increased its holdings in shares of First Interstate BancSystem by 61.3% in the 1st quarter. BlackRock Inc. now owns 8,710,578 shares of the financial services provider’s stock valued at $320,287,000 after acquiring an additional 3,311,462 shares during the period. First Interstate Bank increased its holdings in shares of First Interstate BancSystem by 5,153.6% in the 2nd quarter. First Interstate Bank now owns 7,951,944 shares of the financial services provider’s stock valued at $303,049,000 after acquiring an additional 7,800,583 shares during the period. Macquarie Group Ltd. increased its holdings in shares of First Interstate BancSystem by 2.1% in the 2nd quarter. Macquarie Group Ltd. now owns 5,691,848 shares of the financial services provider’s stock valued at $216,936,000 after acquiring an additional 118,736 shares during the period. Finally, State Street Corp increased its holdings in shares of First Interstate BancSystem by 152.8% in the 1st quarter. State Street Corp now owns 4,344,413 shares of the financial services provider’s stock valued at $159,744,000 after acquiring an additional 2,626,221 shares during the period. Hedge funds and other institutional investors own 77.78% of the company’s stock.

About First Interstate BancSystem

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First Interstate BancSystem, Inc is a financial holding company, which engages in the provision of community banking solutions. The firm offers commercial and consumer banking services to individuals, businesses, municipalities, and other entities. The company was founded by Homer Scott Sr. in 1968 and is headquartered in Billings, MT.