First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives $36.14 Consensus PT from Brokerages

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have earned an average recommendation of “Hold” from the seven research firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $36.14.

Several brokerages have recently issued reports on FIBK. Keefe, Bruyette & Woods upped their price target on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. DA Davidson reissued a “buy” rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, January 30th. UBS Group started coverage on shares of First Interstate BancSystem in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 price objective on the stock. StockNews.com raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Stephens reduced their price objective on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st.

First Interstate BancSystem Stock Up 0.2 %

Shares of NASDAQ:FIBK opened at $28.70 on Friday. The company has a fifty day moving average of $31.20 and a 200-day moving average of $31.74. The company has a market capitalization of $3.00 billion, a PE ratio of 13.11 and a beta of 0.84. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. First Interstate BancSystem has a 52-week low of $24.16 and a 52-week high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities analysts predict that First Interstate BancSystem will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were given a dividend of $0.47 per share. The ex-dividend date was Monday, February 10th. This represents a $1.88 dividend on an annualized basis and a yield of 6.55%. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 85.84%.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $32.56, for a total transaction of $43,467.60. Following the sale, the director now owns 1,414,886 shares of the company’s stock, valued at approximately $46,068,688.16. This represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 6.90% of the company’s stock.

Institutional Trading of First Interstate BancSystem

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of First Interstate BancSystem by 6.8% during the 4th quarter. Vanguard Group Inc. now owns 9,229,785 shares of the financial services provider’s stock worth $299,691,000 after purchasing an additional 587,975 shares in the last quarter. FMR LLC boosted its position in shares of First Interstate BancSystem by 35.5% during the 4th quarter. FMR LLC now owns 6,786,334 shares of the financial services provider’s stock worth $220,352,000 after purchasing an additional 1,778,269 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of First Interstate BancSystem by 2.7% during the 4th quarter. Franklin Resources Inc. now owns 5,474,757 shares of the financial services provider’s stock worth $177,765,000 after purchasing an additional 145,842 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of First Interstate BancSystem by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,045,741 shares of the financial services provider’s stock worth $163,836,000 after purchasing an additional 138,050 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of First Interstate BancSystem by 3.8% during the 4th quarter. JPMorgan Chase & Co. now owns 2,936,868 shares of the financial services provider’s stock worth $95,360,000 after purchasing an additional 107,774 shares in the last quarter. Institutional investors 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.