First Interstate BancSystem (FIBK) – Analysts’ Weekly Ratings Changes

First Interstate BancSystem (NASDAQ: FIBK) has recently received a number of price target changes and ratings updates:

• 6/24/2024 – First Interstate BancSystem had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $32.00 price target on the stock.
• 6/24/2024 – First Interstate BancSystem was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 6/17/2024 – First Interstate BancSystem had its “market perform” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $29.00 price target on the stock.
• 6/14/2024 – First Interstate BancSystem was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 5/31/2024 – First Interstate BancSystem was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 5/22/2024 – First Interstate BancSystem was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 5/14/2024 – First Interstate BancSystem was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.

First Interstate BancSystem Trading Down 0.6 %

Shares of NASDAQ:FIBK traded down $0.17 during mid-day trading on Friday, hitting $27.54. The stock had a trading volume of 19,182 shares, compared to its average volume of 736,478. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market cap of $2.88 billion, a PE ratio of 10.97 and a beta of 0.82. First Interstate BancSystem, Inc. has a 12-month low of $20.81 and a 12-month high of $32.54. The company’s 50 day moving average is $26.89 and its 200-day moving average is $27.25.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. First Interstate BancSystem had a net margin of 17.76% and a return on equity of 8.51%. The company had revenue of $242.20 million during the quarter, compared to the consensus estimate of $236.80 million. On average, sell-side analysts predict that First Interstate BancSystem, Inc. will post 2.28 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were paid a dividend of $0.47 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.88 annualized dividend and a dividend yield of 6.83%. First Interstate BancSystem’s dividend payout ratio (DPR) is 74.90%.

Insider Activity

In other news, Director Jonathan R. Scott sold 29,499 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $25.29, for a total transaction of $746,029.71. Following the transaction, the director now owns 1,021,663 shares in the company, valued at approximately $25,837,857.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Jonathan R. Scott sold 29,499 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $25.29, for a total transaction of $746,029.71. Following the transaction, the director now owns 1,021,663 shares in the company, valued at approximately $25,837,857.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Julie A. Scott sold 209,831 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $25.29, for a total transaction of $5,306,625.99. Following the transaction, the insider now owns 879,869 shares in the company, valued at approximately $22,251,887.01. The disclosure for this sale can be found here. 6.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. abrdn plc increased its holdings in shares of First Interstate BancSystem by 8.4% during the 4th quarter. abrdn plc now owns 923,489 shares of the financial services provider’s stock worth $28,397,000 after purchasing an additional 71,839 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of First Interstate BancSystem by 4.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 931,047 shares of the financial services provider’s stock worth $28,630,000 after purchasing an additional 42,580 shares during the period. Rafferty Asset Management LLC increased its holdings in shares of First Interstate BancSystem by 27.7% during the 4th quarter. Rafferty Asset Management LLC now owns 146,191 shares of the financial services provider’s stock worth $4,495,000 after purchasing an additional 31,710 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of First Interstate BancSystem by 25.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,099 shares of the financial services provider’s stock valued at $618,000 after acquiring an additional 4,040 shares in the last quarter. Finally, FourThought Financial Partners LLC acquired a new stake in shares of First Interstate BancSystem during the 4th quarter valued at about $208,000. Institutional investors own 88.71% of the company’s stock.

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.