First Interstate BancSystem (NASDAQ:FIBK) Price Target Raised to $31.00

First Interstate BancSystem (NASDAQ:FIBK) had its price objective lifted by Barclays from $30.00 to $31.00 in a report published on Thursday,Benzinga reports. Barclays currently has an underweight rating on the financial services provider’s stock.

Several other brokerages have also issued reports on FIBK. DA Davidson upgraded First Interstate BancSystem from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $32.00 to $42.00 in a research report on Tuesday, November 26th. StockNews.com upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Piper Sandler lowered 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. Keefe, Bruyette & Woods boosted their price objective on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Wednesday. Finally, Stephens reiterated an “overweight” rating and set a $36.00 target price on shares of First Interstate BancSystem in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat, First Interstate BancSystem has a consensus rating of “Hold” and a consensus target price of $35.17.

First Interstate BancSystem Stock Up 0.5 %

Shares of NASDAQ:FIBK opened at $34.46 on Thursday. The company has a 50 day moving average price of $32.35 and a two-hundred day moving average price of $30.02. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $3.60 billion, a PE ratio of 15.11 and a beta of 0.84. 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 released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same quarter in the prior year, the firm posted $0.70 earnings per share. Analysts forecast that First Interstate BancSystem will post 2.28 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a dividend of $0.47 per share. The ex-dividend date was Monday, November 4th. This represents a $1.88 annualized dividend and a yield of 5.46%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 82.46%.

Insider Transactions at First Interstate BancSystem

In related news, major shareholder Julie A. Scott sold 22,050 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $33.80, for a total transaction of $745,290.00. Following the completion of the transaction, the insider now directly owns 613,019 shares of the company’s stock, valued at approximately $20,720,042.20. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 shares were sold at an average price of $34.50, for a total value of $209,311.50. Following the completion of the transaction, the insider now owns 75,387 shares of the company’s stock, valued at approximately $2,600,851.50. This represents a 7.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,837 shares of company stock worth $1,839,583 in the last three months. Insiders own 6.90% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of First Interstate BancSystem by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider’s stock worth $127,204,000 after purchasing an additional 367,212 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in First Interstate BancSystem by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,051,632 shares of the financial services provider’s stock worth $56,974,000 after purchasing an additional 32,348 shares during the period. Geode Capital Management LLC increased its position in 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 buying an additional 59,367 shares during the last quarter. Wellington Management Group LLP raised its stake in First Interstate BancSystem by 6.5% in the third quarter. Wellington Management Group LLP now owns 1,288,214 shares of the financial services provider’s stock valued at $39,522,000 after buying an additional 78,596 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of First Interstate BancSystem by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,073,814 shares of the financial services provider’s stock valued at $32,945,000 after buying an additional 52,919 shares during the last quarter. 88.71% of the stock is owned by institutional investors.

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.