First Interstate BancSystem, Inc. (NASDAQ:FIBK) Given Average Rating of “Hold” by Brokerages

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have been assigned an average recommendation of “Hold” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $35.29.

Several analysts recently commented on the company. StockNews.com cut First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Tuesday, December 24th. Stephens lowered their price target on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday. Barclays upped their price objective on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the stock an “underweight” rating in a report on Thursday, December 5th. UBS Group started 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 on the stock. Finally, Piper Sandler reduced their price target on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Monday, October 28th.

First Interstate BancSystem Price Performance

Shares of NASDAQ FIBK opened at $32.95 on Friday. 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 firm has a market capitalization of $3.44 billion, a PE ratio of 15.05 and a beta of 0.85. First Interstate BancSystem has a 1-year low of $24.16 and a 1-year high of $36.77. The business’s fifty day moving average price is $33.10 and its two-hundred day moving average price is $31.61.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. On average, research analysts expect that First Interstate BancSystem will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 10th will be given a $0.47 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.88 annualized dividend and a yield of 5.71%. First Interstate BancSystem’s dividend payout ratio (DPR) is 85.84%.

Insider Buying and Selling at First Interstate BancSystem

In related news, Director Jonathan R. Scott sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total value of $222,170.00. Following the completion of the sale, the director now owns 958,710 shares in the company, valued at approximately $32,768,707.80. This represents a 0.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was 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 directly 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. Over the last 90 days, insiders have sold 54,837 shares of company stock valued at $1,839,583. Corporate insiders own 6.90% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Several hedge funds and other institutional investors have recently modified their holdings of FIBK. Point72 DIFC Ltd acquired a new position in First Interstate BancSystem during the third quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of First Interstate BancSystem in the 3rd quarter valued at about $69,000. KBC Group NV lifted its position in shares of First Interstate BancSystem by 34.1% in the fourth quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock worth $130,000 after purchasing an additional 1,022 shares in the last quarter. CWM LLC boosted its holdings in shares of First Interstate BancSystem by 65.0% during the third quarter. CWM LLC now owns 5,152 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 2,029 shares during the period. Finally, Telos Capital Management Inc. purchased a new position in First Interstate BancSystem during the third quarter valued at approximately $201,000. Institutional investors and hedge funds 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.