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

A number of research firms have changed their ratings and price targets for First Interstate BancSystem (NASDAQ: FIBK):

• 4/29/2024 – First Interstate BancSystem had its price target raised by analysts at Piper Sandler from $32.00 to $37.00. They now have an “overweight” rating on the stock.
• 4/26/2024 – First Interstate BancSystem had its price target raised by analysts at Keefe, Bruyette & Woods from $28.00 to $29.00. They now have a “market perform” rating on the stock.
• 4/26/2024 – First Interstate BancSystem had its price target raised by analysts at Barclays PLC from $28.00 to $29.00. They now have an “equal weight” rating on the stock.
• 4/25/2024 – First Interstate BancSystem had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $32.00 price target on the stock.
• 4/10/2024 – First Interstate BancSystem had its price target raised by analysts at Wells Fargo & Company from $23.00 to $24.00. They now have an “equal weight” rating on the stock.
• 3/18/2024 – First Interstate BancSystem was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
• 3/8/2024 – First Interstate BancSystem is now covered by analysts at Barclays PLC. They set an “equal weight” rating and a $28.00 price target on the stock.

First Interstate BancSystem Price Performance

FIBK stock traded up $0.09 during midday trading on Monday, reaching $27.09. The company had a trading volume of 624,205 shares, compared to its average volume of 828,152. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 10.79 and a beta of 0.87. The stock has a 50 day moving average price of $26.10 and a 200-day moving average price of $26.71. First Interstate BancSystem, Inc. has a 1-year low of $20.81 and a 1-year high of $32.54. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.77 and a quick ratio of 0.76.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Tuesday, January 30th. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. The firm had revenue of $252.30 million during the quarter, compared to the consensus estimate of $254.50 million. First Interstate BancSystem had a return on equity of 8.55% and a net margin of 18.04%. Equities research analysts expect that First Interstate BancSystem, Inc. will post 2.17 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 6.94%. The ex-dividend date is Friday, May 3rd. First Interstate BancSystem’s payout ratio is 74.90%.

Insider Transactions at First Interstate BancSystem

In other news, insider Lorrie F. Asker sold 1,921 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $26.05, for a total transaction of $50,042.05. Following the sale, the insider now directly owns 6,909 shares in the company, valued at $179,979.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Lorrie F. Asker sold 1,921 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $26.05, for a total transaction of $50,042.05. Following the sale, the insider now directly owns 6,909 shares in the company, valued at $179,979.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kristina Robbins sold 2,710 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $25.83, for a total value of $69,999.30. Following the sale, the executive vice president now owns 9,047 shares in the company, valued at $233,684.01. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,531 shares of company stock worth $197,645. Insiders own 6.90% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Several institutional investors have recently added to or reduced their stakes in FIBK. Global Retirement Partners LLC boosted its holdings in First Interstate BancSystem by 132.8% in the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 530 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in First Interstate BancSystem in the fourth quarter valued at approximately $39,000. Parallel Advisors LLC boosted its holdings in First Interstate BancSystem by 205.3% in the fourth quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 856 shares during the last quarter. CWM LLC boosted its holdings in First Interstate BancSystem by 42.1% in the fourth quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 702 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in First Interstate BancSystem in the third quarter valued at approximately $81,000. 88.71% of the stock is currently owned by institutional investors.

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.