First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives $38.17 Consensus PT from Brokerages

by · The Markets Daily

First Interstate BancSystem, Inc. (NASDAQ:FIBK – Get Free Report) has been given a consensus rating of “Hold” by the eight research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $38.1667.

Several research firms recently commented on FIBK. DA Davidson reaffirmed a “buy” rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a report on Thursday, January 29th. Piper Sandler boosted their target price on shares of First Interstate BancSystem from $41.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Wall Street Zen upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings raised First Interstate BancSystem from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, Stephens cut First Interstate BancSystem from an “overweight” rating to an “equal weight” rating in a research report on Thursday, February 5th.

Read Our Latest Stock Report on First Interstate BancSystem

First Interstate BancSystem Price Performance

NASDAQ FIBK opened at $34.19 on Friday. The company has a market cap of $3.52 billion, a PE ratio of 11.59 and a beta of 0.77. First Interstate BancSystem has a 52 week low of $22.95 and a 52 week high of $39.26. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.09. The firm’s 50-day simple moving average is $36.64 and its two-hundred day simple moving average is $33.99.

First Interstate BancSystem (NASDAQ:FIBK – Get Free Report) last issued its earnings results on Wednesday, January 28th. The financial services provider reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.44. First Interstate BancSystem had a net margin of 21.40% and a return on equity of 8.83%. The firm had revenue of $205.10 million during the quarter, compared to analyst estimates of $256.89 million. During the same quarter last year, the business earned $0.50 earnings per share. The company’s quarterly revenue was up 19.8% on a year-over-year basis. Research analysts predict that First Interstate BancSystem will post 2.53 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Tuesday, February 10th were paid a $0.47 dividend. The ex-dividend date was Tuesday, February 10th. This represents a $1.88 annualized dividend and a yield of 5.5%. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 63.73%.

Insiders Place Their Bets

In other news, major shareholder Jonathan R. Scott sold 3,173 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $36.20, for a total transaction of $114,862.60. Following the sale, the insider directly owned 937,851 shares in the company, valued at $33,950,206.20. This represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 8.20% of the stock is owned by insiders.

Hedge Funds Weigh In On First Interstate BancSystem

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC increased its holdings in First Interstate BancSystem by 37.2% during the 1st quarter. AQR Capital Management LLC now owns 67,214 shares of the financial services provider’s stock worth $1,926,000 after acquiring an additional 18,210 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in First Interstate BancSystem by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,230 shares of the financial services provider’s stock worth $1,353,000 after purchasing an additional 2,070 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in First Interstate BancSystem in the 1st quarter valued at $238,000. Jones Financial Companies Lllp boosted its holdings in First Interstate BancSystem by 24,352.5% in the 1st quarter. Jones Financial Companies Lllp now owns 24,697 shares of the financial services provider’s stock valued at $708,000 after purchasing an additional 24,596 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of First Interstate BancSystem during the 1st quarter valued at $5,125,000. 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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