First Interstate BancSystem (NASDAQ:FIBK) Cut to Sell at StockNews.com

StockNews.com lowered shares of First Interstate BancSystem (NASDAQ:FIBK) from a hold rating to a sell rating in a research report released on Tuesday.

Several other research analysts have also commented on FIBK. DA Davidson raised First Interstate BancSystem from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $32.00 to $42.00 in a research report on Tuesday, November 26th. Keefe, Bruyette & Woods lifted their target price on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Stephens reiterated an “overweight” rating and set a $36.00 price target on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Barclays lifted their price objective on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research note on Thursday, December 5th. Finally, UBS Group initiated coverage on shares of First Interstate BancSystem in a research note on Tuesday, December 17th. They set a “neutral” rating and a $35.00 target price for the company. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, First Interstate BancSystem has an average rating of “Hold” and an average price target of $35.14.

First Interstate BancSystem Trading Up 0.6 %

NASDAQ FIBK opened at $32.98 on Tuesday. The firm’s fifty day moving average price is $33.15 and its 200 day moving average price is $30.63. First Interstate BancSystem has a 12 month low of $24.16 and a 12 month high of $36.77. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 14.46 and a beta of 0.84.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (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 period in the previous year, the business posted $0.70 EPS. On average, sell-side analysts expect that First Interstate BancSystem will post 2.28 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were issued a dividend of $0.47 per share. The ex-dividend date was Monday, November 4th. This represents a $1.88 annualized dividend and a yield of 5.70%. First Interstate BancSystem’s dividend payout ratio is currently 82.46%.

Insider Activity at First Interstate BancSystem

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TNF LLC boosted its stake in shares of First Interstate BancSystem by 1.5% during the 3rd quarter. TNF LLC now owns 25,376 shares of the financial services provider’s stock worth $812,000 after acquiring an additional 367 shares in the last quarter. Caprock Group LLC grew its holdings in First Interstate BancSystem by 1.7% in the second quarter. Caprock Group LLC now owns 25,673 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 422 shares during the last quarter. Wrapmanager Inc. grew its holdings in First Interstate BancSystem by 5.0% in the third quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 429 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of First Interstate BancSystem by 5.3% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider’s stock valued at $311,000 after buying an additional 507 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of First Interstate BancSystem by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,348 shares of the financial services provider’s stock worth $1,370,000 after buying an additional 598 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

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.