First Interstate BancSystem, Inc. (NASDAQ:FIBK) Given Consensus Rating of “Hold” by Brokerages

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have received an average recommendation of “Hold” from the seven research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $35.14.

FIBK has been the topic of a number of analyst reports. DA Davidson upgraded First Interstate BancSystem from a “neutral” rating to a “buy” rating and upped their price target for the company from $32.00 to $42.00 in a research report on Tuesday, November 26th. Piper Sandler reduced their target price on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. StockNews.com lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Tuesday, December 24th. Wells Fargo & Company upped their price objective on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Finally, Barclays lifted their target price on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the stock an “underweight” rating in a research note on Thursday, December 5th.

First Interstate BancSystem Stock Up 0.4 %

NASDAQ:FIBK opened at $32.51 on Tuesday. First Interstate BancSystem has a one year low of $24.16 and a one 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 company has a market cap of $3.40 billion, a PE ratio of 14.26 and a beta of 0.84. The firm’s 50 day simple moving average is $33.18 and its 200 day simple moving average is $30.81.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results 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 return on equity of 7.48% and a net margin of 15.94%. During the same quarter last year, the business posted $0.70 EPS. On average, research analysts anticipate that First Interstate BancSystem will post 2.28 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.78%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 82.46%.

Insider Activity at First Interstate BancSystem

In other news, major shareholder Julie A. Scott sold 20,220 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $32.78, for a total transaction of $662,811.60. Following the completion of the sale, the insider now owns 635,069 shares in the company, valued at $20,817,561.82. The trade was a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of First Interstate BancSystem stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $34.50, for a total transaction of $209,311.50. Following the completion of the sale, the insider now directly owns 75,387 shares of the company’s stock, valued at approximately $2,600,851.50. The trade was a 7.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,837 shares of company stock valued at $1,839,583 in the last three months. Corporate insiders own 6.90% of the company’s stock.

Institutional Trading of First Interstate BancSystem

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd purchased a new position in shares of First Interstate BancSystem during the third quarter valued at approximately $34,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of First Interstate BancSystem in the 3rd quarter worth $69,000. nVerses Capital LLC lifted its position in shares of First Interstate BancSystem by 412.5% during the second quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 3,300 shares in the last quarter. CWM LLC lifted its position in shares of First Interstate BancSystem by 65.0% during the third quarter. CWM LLC now owns 5,152 shares of the financial services provider’s stock valued at $158,000 after purchasing an additional 2,029 shares in the last quarter. Finally, Telos Capital Management Inc. bought a new stake in First Interstate BancSystem in the 3rd quarter worth about $201,000. 88.71% of the stock is owned by institutional investors.

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.