Brokerages Set First Interstate BancSystem, Inc. (NASDAQ:FIBK) PT at $36.14

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has been given a consensus recommendation of “Hold” by the seven brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $36.14.

FIBK has been the subject of several recent research reports. Barclays increased their price objective on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. DA Davidson reaffirmed a “buy” rating and set a $42.00 price target on shares of First Interstate BancSystem in a research note on Thursday, January 30th. UBS Group started coverage on First Interstate BancSystem in a research note on Tuesday, December 17th. They set a “neutral” rating and a $35.00 target price for the company. Piper Sandler cut their price target on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, Stephens reduced their price target on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 31st.

First Interstate BancSystem Trading Down 1.0 %

Shares of FIBK stock opened at $28.84 on Friday. First Interstate BancSystem has a 1-year low of $24.16 and a 1-year high of $36.77. 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’s 50-day simple moving average is $31.35 and its 200-day simple moving average is $31.79. The firm has a market cap of $3.01 billion, a P/E ratio of 13.17 and a beta of 0.84.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, beating 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%. As a group, equities analysts forecast that First Interstate BancSystem will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date was Monday, February 10th. First Interstate BancSystem’s dividend payout ratio is presently 85.84%.

Insider Buying and Selling at First Interstate BancSystem

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $32.56, for a total transaction of $43,467.60. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FIBK. Wood Tarver Financial Group LLC bought a new stake in First Interstate BancSystem in the fourth quarter valued at $26,000. Point72 DIFC Ltd bought a new stake in First Interstate BancSystem in the 3rd quarter valued at about $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in First Interstate BancSystem during the 3rd quarter valued at about $69,000. Meeder Asset Management Inc. bought a new position in First Interstate BancSystem in the 4th quarter worth about $69,000. Finally, Covestor Ltd increased its stake in shares of First Interstate BancSystem by 25.8% in the fourth quarter. Covestor Ltd now owns 2,485 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 510 shares during the period. Institutional investors and hedge funds own 88.71% of the company’s stock.

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.