First Interstate BancSystem, Inc. (NASDAQ:FIBK) Given Average Rating of “Hold” by Analysts

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have received a consensus rating of “Hold” from the five research firms that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $30.20.

A number of equities analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Barclays upped their price objective on First Interstate BancSystem from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday. TheStreet lowered First Interstate BancSystem from a “b-” rating to a “c+” rating in a research note on Monday, March 18th. Stephens reiterated an “overweight” rating and issued a $32.00 target price on shares of First Interstate BancSystem in a report on Thursday, April 25th. Finally, Piper Sandler raised their price target on shares of First Interstate BancSystem from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Monday.

First Interstate BancSystem Stock Performance

FIBK stock opened at $27.09 on Thursday. First Interstate BancSystem has a 1-year low of $20.81 and a 1-year high of $32.54. The business has a 50-day moving average price of $26.11 and a 200 day moving average price of $26.73. The company has a market capitalization of $2.82 billion, a P/E ratio of 10.79 and a beta of 0.87. 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 (NASDAQ:FIBK) last posted 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 net margin of 18.04% and a return on equity of 8.55%. The business had revenue of $252.30 million for the quarter, compared to the consensus estimate of $254.50 million. As a group, equities research analysts forecast that First Interstate BancSystem will post 2.17 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 6.94%. The ex-dividend date of this dividend is Friday, May 3rd. First Interstate BancSystem’s dividend payout ratio is presently 74.90%.

Insider Activity

In other First Interstate BancSystem news, insider Lorrie F. Asker sold 1,921 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total transaction of $50,042.05. Following the sale, the insider now owns 6,909 shares of the company’s stock, valued at approximately $179,979.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Lorrie F. Asker sold 1,921 shares of the firm’s stock in a transaction on 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 approximately $179,979.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Karlyn M. Knieriem sold 2,900 shares of First Interstate BancSystem stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $26.76, for a total value of $77,604.00. Following the sale, the executive vice president now directly owns 20,599 shares of the company’s stock, valued at approximately $551,229.24. The disclosure for this sale can be found here. Insiders have sold a total of 7,531 shares of company stock worth $197,645 over the last 90 days. 6.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Interstate BancSystem

A number of large investors have recently bought and sold shares of FIBK. Caprock Group LLC lifted its stake in First Interstate BancSystem by 1.8% during the 4th quarter. Caprock Group LLC now owns 24,814 shares of the financial services provider’s stock valued at $763,000 after acquiring an additional 443 shares during the period. Global Retirement Partners LLC raised its holdings in shares of First Interstate BancSystem by 132.8% during the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 530 shares during the last quarter. Signaturefd LLC lifted its position in First Interstate BancSystem by 22.0% during the third quarter. Signaturefd LLC now owns 3,886 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 700 shares during the period. CWM LLC boosted its holdings 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 last quarter. Finally, PNC Financial Services Group Inc. grew its position in First Interstate BancSystem by 28.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,378 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 744 shares during the period. Hedge funds and other institutional investors own 88.71% of the company’s stock.

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.