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

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has received a consensus recommendation of “Hold” from the six research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $35.17.

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on First Interstate BancSystem from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. Barclays lifted their price objective on First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods increased their price objective on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Stephens restated an “overweight” rating and issued a $36.00 price target on shares of First Interstate BancSystem in a report on Thursday, October 10th. Finally, StockNews.com raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th.

First Interstate BancSystem Stock Performance

Shares of NASDAQ:FIBK opened at $34.07 on Friday. The firm’s 50-day moving average is $32.70 and its 200 day moving average is $30.19. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 14.94 and a beta of 0.84. First Interstate BancSystem has a 12 month low of $24.16 and a 12 month high of $36.77. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same quarter in the previous year, the business posted $0.70 earnings per share. Research analysts predict that First Interstate BancSystem will post 2.28 EPS for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.88 annualized dividend and a dividend yield of 5.52%. First Interstate BancSystem’s dividend payout ratio (DPR) is 82.46%.

Insider Transactions at First Interstate BancSystem

In related news, major shareholder James R. Scott, Jr. sold 6,067 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $34.50, for a total transaction of $209,311.50. Following the transaction, the insider now owns 75,387 shares of the company’s stock, valued at approximately $2,600,851.50. The trade was a 7.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jonathan R. Scott sold 6,500 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total value of $222,170.00. Following the completion of the transaction, the director now directly owns 958,710 shares of the company’s stock, valued at approximately $32,768,707.80. The trade was a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,837 shares of company stock valued at $1,839,583 in the last 90 days. 6.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Interstate BancSystem

A number of large investors have recently added to or reduced their stakes in FIBK. Point72 DIFC Ltd bought a new stake in shares of First Interstate BancSystem during the 3rd quarter worth about $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of First Interstate BancSystem during the 3rd quarter worth approximately $69,000. CWM LLC grew its position in First Interstate BancSystem by 16.0% during the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after buying an additional 430 shares in the last quarter. Innealta Capital LLC bought a new position in shares of First Interstate BancSystem in the second quarter worth $106,000. Finally, nVerses Capital LLC boosted its position in shares of First Interstate BancSystem by 412.5% during the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 3,300 shares in the last quarter. Institutional investors own 88.71% of the company’s stock.

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.