Brokerages Set First Interstate BancSystem, Inc. (NASDAQ:FIBK) PT at $37.29

by · The Markets Daily

First Interstate BancSystem, Inc. (NASDAQ:FIBK – Get Free Report) has received an average recommendation of “Hold” from the eight analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $37.2857.

Several research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Interstate BancSystem in a research note on Monday, December 29th. Wells Fargo & Company raised their price objective on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. Barclays lifted their price objective on shares of First Interstate BancSystem from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Friday, December 19th. Wall Street Zen lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Finally, Keefe, Bruyette & Woods raised their target price on shares of First Interstate BancSystem from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th.

Get Our Latest Stock Report on FIBK

First Interstate BancSystem Price Performance

NASDAQ FIBK opened at $36.53 on Friday. First Interstate BancSystem has a 12 month low of $22.95 and a 12 month high of $38.01. The firm has a market capitalization of $3.76 billion, a PE ratio of 15.41 and a beta of 0.80. The company’s 50 day simple moving average is $34.17 and its 200 day simple moving average is $32.24. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.74 and a quick ratio of 0.73.

First Interstate BancSystem (NASDAQ:FIBK – Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter. First Interstate BancSystem had a return on equity of 7.25% and a net margin of 17.62%.The firm had revenue of $250.50 million during the quarter. As a group, equities research analysts forecast that First Interstate BancSystem will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.88 annualized dividend and a dividend yield of 5.1%. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 79.32%.

Insider Activity

In other First Interstate BancSystem news, major shareholder Susan Scott Heyneman Trust, Su sold 10,000 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $32.75, for a total transaction of $327,500.00. Following the completion of the sale, the insider directly owned 224,460 shares of the company’s stock, valued at approximately $7,351,065. This represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Jonathan R. Scott sold 1,827 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $36.92, for a total transaction of $67,452.84. Following the completion of the transaction, the insider owned 936,024 shares of the company’s stock, valued at approximately $34,558,006.08. The trade was a 0.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 67,232 shares of company stock valued at $2,138,746 over the last three months. Insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On First Interstate BancSystem

Several hedge funds have recently made changes to their positions in the company. First Horizon Corp acquired a new position in First Interstate BancSystem in the 3rd quarter worth approximately $26,000. GAMMA Investing LLC lifted its holdings in shares of First Interstate BancSystem by 186.5% in the second quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 647 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of First Interstate BancSystem by 139.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock worth $43,000 after buying an additional 862 shares during the period. Jones Financial Companies Lllp grew its holdings in shares of First Interstate BancSystem by 1,485.1% during the third quarter. Jones Financial Companies Lllp now owns 1,601 shares of the financial services provider’s stock valued at $52,000 after buying an additional 1,500 shares in the last quarter. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of First Interstate BancSystem during the third quarter valued at $52,000. Hedge funds and other institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Company Profile

(Get Free Report)

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.

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