First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives $36.40 Consensus Target Price from Analysts

First Interstate BancSystem, Inc. (NASDAQ:FIBK – Get Rating) has received a consensus rating of “Hold” from the eight analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $36.40.

A number of research firms recently weighed in on FIBK. Wells Fargo & Company lowered their price objective on shares of First Interstate BancSystem from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, April 5th. StockNews.com began coverage on shares of First Interstate BancSystem in a research note on Thursday, May 18th. They issued a “sell” rating for the company. Stephens raised shares of First Interstate BancSystem from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $44.00 to $43.00 in a research note on Wednesday, February 1st. Janney Montgomery Scott lowered shares of First Interstate BancSystem from a “buy” rating to a “neutral” rating in a research note on Monday, January 30th. Finally, Piper Sandler lowered their price objective on shares of First Interstate BancSystem from $45.00 to $35.00 in a research note on Monday, May 1st.

Insider Activity

In other news, major shareholder Julie A. Scott sold 70,250 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $23.27, for a total transaction of $1,634,717.50. Following the transaction, the insider now owns 2,447,101 shares in the company, valued at $56,944,040.27. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Julie A. Scott sold 70,250 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $23.27, for a total transaction of $1,634,717.50. Following the transaction, the insider now owns 2,447,101 shares in the company, valued at $56,944,040.27. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jonathan R. Scott sold 26,250 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $23.27, for a total transaction of $610,837.50. Following the transaction, the director now owns 980,920 shares in the company, valued at approximately $22,826,008.40. The disclosure for this sale can be found here. Insiders have sold a total of 481,000 shares of company stock worth $14,734,022 over the last 90 days. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On First Interstate BancSystem

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ronald Blue Trust Inc. acquired a new position in First Interstate BancSystem in the 4th quarter worth approximately $28,000. First PREMIER Bank purchased a new stake in First Interstate BancSystem in the 1st quarter worth approximately $25,000. Quadrant Capital Group LLC lifted its position in shares of First Interstate BancSystem by 32.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 917 shares of the financial services provider’s stock valued at $37,000 after buying an additional 226 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of First Interstate BancSystem during the 4th quarter valued at approximately $40,000. Finally, Dark Forest Capital Management LP purchased a new position in shares of First Interstate BancSystem during the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 77.78% of the company’s stock.

First Interstate BancSystem Trading Down 0.8 %

Shares of FIBK opened at $23.35 on Friday. The company’s fifty day moving average is $27.04 and its 200 day moving average is $34.62. First Interstate BancSystem has a fifty-two week low of $21.03 and a fifty-two week high of $46.34. The stock has a market capitalization of $2.44 billion, a PE ratio of 8.52 and a beta of 0.84. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.75 and a current ratio of 0.76.

First Interstate BancSystem (NASDAQ:FIBK – Get Rating) last issued its earnings results on Thursday, April 27th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.28). First Interstate BancSystem had a net margin of 22.74% and a return on equity of 11.38%. During the same quarter in the previous year, the business earned $0.21 EPS. Sell-side analysts expect that First Interstate BancSystem will post 2.85 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Monday, May 8th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 8.05%. The ex-dividend date was Friday, May 5th. First Interstate BancSystem’s payout ratio is 68.36%.

About First Interstate BancSystem

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First Interstate BancSystem, Inc is a financial holding company, which engages in the provision of community banking solutions. The firm offers commercial and consumer banking services to individuals, businesses, municipalities, and other entities. The company was founded by Homer Scott Sr. in 1968 and is headquartered in Billings, MT.