First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives $30.20 Consensus Target Price from Brokerages

First Interstate BancSystem, Inc. (NASDAQ:FIBKGet Free Report) has received a consensus rating of “Hold” from the five research firms that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $30.20.

Several brokerages have recently issued reports on FIBK. Barclays upped their price objective on First Interstate BancSystem from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $29.00 price target on shares of First Interstate BancSystem in a report on Monday. Stephens restated an “overweight” rating and set a $32.00 price target on shares of First Interstate BancSystem in a report on Thursday, April 25th. Piper Sandler increased their price target on First Interstate BancSystem from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Finally, Wells Fargo & Company increased their price target on First Interstate BancSystem from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th.

Read Our Latest Research Report on First Interstate BancSystem

Insiders Place Their Bets

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

Hedge Funds Weigh In On First Interstate BancSystem

A number of hedge funds and other institutional investors have recently made changes to their positions in FIBK. Swiss National Bank grew its position in shares of First Interstate BancSystem by 1.0% during the 3rd quarter. Swiss National Bank now owns 195,046 shares of the financial services provider’s stock worth $4,864,000 after buying an additional 1,900 shares in the last quarter. UBS Group AG grew its position in shares of First Interstate BancSystem by 142.2% during the 3rd quarter. UBS Group AG now owns 149,370 shares of the financial services provider’s stock worth $3,725,000 after buying an additional 87,710 shares in the last quarter. FMR LLC grew its position in shares of First Interstate BancSystem by 0.4% during the 3rd quarter. FMR LLC now owns 6,451,758 shares of the financial services provider’s stock worth $160,907,000 after buying an additional 28,343 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of First Interstate BancSystem by 56.1% during the 3rd quarter. Hsbc Holdings PLC now owns 52,332 shares of the financial services provider’s stock worth $1,309,000 after buying an additional 18,809 shares in the last quarter. Finally, Stifel Financial Corp grew its position in shares of First Interstate BancSystem by 9.6% during the 3rd quarter. Stifel Financial Corp now owns 93,038 shares of the financial services provider’s stock worth $2,320,000 after buying an additional 8,166 shares in the last quarter. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Trading Up 0.1 %

FIBK stock opened at $25.96 on Friday. First Interstate BancSystem 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 0.90, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 10.34 and a beta of 0.82. The business has a 50 day simple moving average of $26.57 and a two-hundred day simple moving average of $27.37.

First Interstate BancSystem (NASDAQ:FIBKGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.04. The business had revenue of $242.20 million for the quarter, compared to analysts’ expectations of $236.80 million. First Interstate BancSystem had a return on equity of 8.51% and a net margin of 17.76%. Research analysts anticipate that First Interstate BancSystem will post 2.28 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were paid a $0.47 dividend. The ex-dividend date was Friday, May 3rd. This represents a $1.88 dividend on an annualized basis and a yield of 7.24%. First Interstate BancSystem’s payout ratio is 74.90%.

First Interstate BancSystem Company Profile

(Get Free Report

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.

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Analyst Recommendations for First Interstate BancSystem (NASDAQ:FIBK)

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