First Interstate BancSystem’s (FIBK) Overweight Rating Reiterated at Stephens

Stephens restated their overweight rating on shares of First Interstate BancSystem (NASDAQ:FIBK) in a research note published on Thursday morning, Benzinga reports. Stephens currently has a $32.00 price target on the financial services provider’s stock.

Several other research analysts also recently issued reports on FIBK. Barclays started coverage on shares of First Interstate BancSystem in a research report on Friday, March 8th. They set an equal weight rating and a $28.00 price objective on the stock. Wells Fargo & Company boosted their price target on First Interstate BancSystem from $23.00 to $24.00 and gave the company an equal weight rating in a research report on Wednesday, April 10th. Finally, TheStreet cut First Interstate BancSystem from a b- rating to a c+ rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $29.20.

First Interstate BancSystem Stock Up 0.2 %

First Interstate BancSystem stock opened at $27.00 on Thursday. The company has a market capitalization of $2.81 billion, a P/E ratio of 10.76 and a beta of 0.87. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.76 and a current ratio of 0.77. First Interstate BancSystem has a fifty-two week low of $20.81 and a fifty-two week high of $32.54. The stock has a 50-day simple moving average of $26.10 and a 200-day simple moving average of $26.70.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $252.30 million during the quarter, compared to analysts’ expectations of $254.50 million. First Interstate BancSystem had a return on equity of 8.55% and a net margin of 18.04%. Equities research analysts expect that First Interstate BancSystem will post 2.17 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be issued a dividend of $0.47 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.88 annualized dividend and a yield of 6.96%. First Interstate BancSystem’s dividend payout ratio is currently 74.90%.

Insider Buying and Selling at First Interstate BancSystem

In other news, insider Lorrie F. Asker sold 1,921 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $26.05, for a total transaction of $50,042.05. Following the completion of the transaction, the insider now directly owns 6,909 shares of the company’s stock, valued at approximately $179,979.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other First Interstate BancSystem news, insider Lorrie F. Asker sold 1,921 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total transaction of $50,042.05. Following the sale, the insider now directly owns 6,909 shares in the company, valued at approximately $179,979.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Karlyn M. Knieriem sold 2,900 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $26.76, for a total transaction of $77,604.00. Following the transaction, the executive vice president now directly owns 20,599 shares in the company, valued at $551,229.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,531 shares of company stock valued at $197,645. 6.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Interstate BancSystem

A number of hedge funds and other institutional investors have recently modified their holdings of FIBK. Global Retirement Partners LLC boosted its position in First Interstate BancSystem by 132.8% during the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 530 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in shares of First Interstate BancSystem during the 4th quarter worth $39,000. Parallel Advisors LLC boosted its position in shares of First Interstate BancSystem by 205.3% in the 4th quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock worth $39,000 after buying an additional 856 shares in the last quarter. CWM LLC grew its stake in First Interstate BancSystem by 42.1% in the 4th quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 702 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in First Interstate BancSystem during the 3rd quarter valued at about $81,000. 88.71% of the stock is currently owned by institutional investors and hedge funds.

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.