First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives $32.50 Consensus Target Price from Brokerages

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have earned an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $32.50.

Several equities research analysts have recently issued reports on the stock. Piper Sandler dropped their price objective on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. StockNews.com upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Stephens restated an “overweight” rating and issued a $36.00 target price on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Wells Fargo & Company downgraded shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $30.00 to $28.00 in a research note on Tuesday, October 1st. Finally, DA Davidson upped their target price on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, July 29th.

First Interstate BancSystem Price Performance

First Interstate BancSystem stock opened at $33.14 on Monday. First Interstate BancSystem has a 52-week low of $24.16 and a 52-week high of $34.53. The firm has a fifty day moving average of $31.09 and a 200-day moving average of $29.31. The firm has a market capitalization of $3.46 billion, a P/E ratio of 14.54 and a beta of 0.81. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same quarter last year, the business posted $0.70 earnings per share. As a group, analysts predict that First Interstate BancSystem will post 2.28 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, November 4th. This represents a $1.88 dividend on an annualized basis and a yield of 5.67%. First Interstate BancSystem’s dividend payout ratio (DPR) is 82.46%.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 22,050 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total transaction of $745,290.00. Following the transaction, the insider now directly owns 613,019 shares in the company, valued at $20,720,042.20. This represents a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jonathan R. Scott sold 6,500 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total transaction of $222,170.00. Following the transaction, the director now owns 958,710 shares in the company, valued at $32,768,707.80. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,320 shares of company stock worth $1,647,096 in the last ninety days. 6.90% of the stock is owned by insiders.

Institutional Trading of First Interstate BancSystem

A number of institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in shares of First Interstate BancSystem by 3.1% during the third quarter. Geode Capital Management LLC now owns 1,992,873 shares of the financial services provider’s stock worth $61,152,000 after purchasing an additional 59,367 shares during the period. Barclays PLC raised its holdings in shares of First Interstate BancSystem by 18.6% during the third quarter. Barclays PLC now owns 206,213 shares of the financial services provider’s stock worth $6,326,000 after purchasing an additional 32,298 shares during the period. Jane Street Group LLC raised its holdings in shares of First Interstate BancSystem by 13.9% during the third quarter. Jane Street Group LLC now owns 188,084 shares of the financial services provider’s stock worth $5,770,000 after purchasing an additional 22,899 shares during the period. Wellington Management Group LLP raised its holdings in shares of First Interstate BancSystem by 6.5% during the third quarter. Wellington Management Group LLP now owns 1,288,214 shares of the financial services provider’s stock worth $39,522,000 after purchasing an additional 78,596 shares during the period. Finally, Systematic Financial Management LP acquired a new stake in shares of First Interstate BancSystem during the third quarter worth $840,000. 88.71% of the stock is owned by institutional investors and hedge funds.

About First Interstate BancSystem

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.