Stephens Reaffirms Overweight Rating for First Interstate BancSystem (NASDAQ:FIBK)

Stephens restated their overweight rating on shares of First Interstate BancSystem (NASDAQ:FIBK) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $32.00 price target on the financial services provider’s stock.

A number of other analysts have also recently commented on FIBK. Wells Fargo & Company lifted their price objective on First Interstate BancSystem from $23.00 to $24.00 and gave the stock an equal weight rating in a research report on Wednesday, April 10th. TheStreet downgraded shares of First Interstate BancSystem from a b- rating to a c+ rating in a report on Monday, March 18th. Finally, Barclays initiated coverage on shares of First Interstate BancSystem in a research note on Friday, March 8th. They set an equal weight rating and a $28.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $29.20.

First Interstate BancSystem Trading Up 0.2 %

Shares of FIBK opened at $27.00 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.77 and a quick ratio of 0.76. First Interstate BancSystem has a 1-year low of $20.81 and a 1-year high of $32.54. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 10.76 and a beta of 0.87. The firm has a 50 day simple moving average of $26.10 and a 200-day simple moving average of $26.71.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Tuesday, January 30th. The financial services provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. First Interstate BancSystem had a return on equity of 8.55% and a net margin of 18.04%. The firm had revenue of $252.30 million for the quarter, compared to analysts’ expectations of $254.50 million. Equities analysts forecast that First Interstate BancSystem will post 2.17 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.88 annualized dividend and a dividend yield of 6.96%. First Interstate BancSystem’s dividend payout ratio is presently 74.90%.

Insider Buying and Selling

In other First Interstate BancSystem news, EVP Kristina Robbins sold 2,710 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total transaction of $69,999.30. Following the transaction, the executive vice president now owns 9,047 shares of the company’s stock, valued at $233,684.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other First Interstate BancSystem news, EVP Kristina Robbins sold 2,710 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $25.83, for a total transaction of $69,999.30. Following the completion of the sale, the executive vice president now owns 9,047 shares of the company’s stock, valued at $233,684.01. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Lorrie F. Asker sold 1,921 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $26.05, for a total value of $50,042.05. Following the completion of the transaction, the insider now owns 6,909 shares in the company, valued at $179,979.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,531 shares of company stock valued at $197,645. Insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On First Interstate BancSystem

Several institutional investors have recently bought and sold shares of FIBK. Global Retirement Partners LLC raised its stake in shares of First Interstate BancSystem by 132.8% in the 4th quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 530 shares during the period. Wolverine Asset Management LLC purchased a new stake in First Interstate BancSystem during the 4th quarter worth $39,000. Parallel Advisors LLC increased its holdings in First Interstate BancSystem by 205.3% in the 4th quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 856 shares in the last quarter. CWM LLC raised its position in First Interstate BancSystem by 42.1% in the fourth quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 702 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of First Interstate BancSystem during the third quarter worth about $81,000. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

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.