First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives $37.29 Consensus Price Target from Brokerages

by · The Cerbat Gem

First Interstate BancSystem, Inc. (NASDAQ:FIBK – Get Free Report) has earned an average recommendation of “Hold” from the eight brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $37.2857.

A number of brokerages have weighed in on FIBK. Wells Fargo & Company boosted their target price on First Interstate BancSystem from $28.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of First Interstate BancSystem in a report on Monday, December 29th. Wall Street Zen downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. UBS Group restated a “neutral” rating and issued a $37.00 target price on shares of First Interstate BancSystem in a report on Tuesday, January 6th. Finally, Barclays boosted their target price on shares of First Interstate BancSystem from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Friday, December 19th.

Check Out Our Latest Research Report on FIBK

Insider Activity at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Susan Scott Heyneman Trust, Su sold 10,000 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $32.75, for a total value of $327,500.00. Following the transaction, the insider 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $67,452.84. Following the completion of the transaction, the insider directly owned 936,024 shares in the company, valued at $34,558,006.08. The trade was a 0.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 67,232 shares of company stock worth $2,138,746. 8.20% of the stock is owned by insiders.

Institutional Trading of First Interstate BancSystem

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its position in First Interstate BancSystem by 180.6% in the fourth quarter. SG Americas Securities LLC now owns 75,583 shares of the financial services provider’s stock worth $2,615,000 after acquiring an additional 48,648 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of First Interstate BancSystem by 4.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,503 shares of the financial services provider’s stock valued at $686,000 after acquiring an additional 858 shares during the period. GAMMA Investing LLC increased its stake in shares of First Interstate BancSystem by 49.6% in the 4th quarter. GAMMA Investing LLC now owns 1,556 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 516 shares in the last quarter. Cambria Investment Management L.P. bought a new position in First Interstate BancSystem in the 3rd quarter worth $9,083,000. Finally, CIBC Private Wealth Group LLC bought a new position in First Interstate BancSystem in the 3rd quarter worth $52,000. 88.71% of the stock is currently owned by institutional investors.

First Interstate BancSystem Stock Performance

Shares of FIBK opened at $36.75 on Friday. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 15.51 and a beta of 0.80. The business’s fifty day simple moving average is $33.99 and its two-hundred day simple moving average is $32.15. First Interstate BancSystem has a 12 month low of $22.95 and a 12 month high of $38.01. The company has a current ratio of 0.74, a quick ratio of 0.73 and a debt-to-equity ratio of 0.09.

First Interstate BancSystem (NASDAQ:FIBK – Get Free Report) last announced 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 for the quarter. Research analysts anticipate that First Interstate BancSystem will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 10th were issued a $0.47 dividend. 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 payout ratio is presently 79.32%.

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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