Stephens Issues Pessimistic Forecast for First Interstate BancSystem (NASDAQ:FIBK) Stock Price

First Interstate BancSystem (NASDAQ:FIBK) had its price target cut by Stephens from $39.00 to $38.00 in a research report report published on Friday,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities research analysts have also recently commented on FIBK. Barclays increased their target price on First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. Piper Sandler cut their target price on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. UBS Group initiated coverage on shares of First Interstate BancSystem in a research note on Tuesday, December 17th. They set a “neutral” rating and a $35.00 price target on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $42.00 target price on shares of First Interstate BancSystem in a research note on Thursday. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $35.29.

First Interstate BancSystem Trading Down 1.6 %

NASDAQ:FIBK opened at $32.95 on Friday. First Interstate BancSystem has a 52-week low of $24.16 and a 52-week high of $36.77. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The stock has a fifty day simple moving average of $33.10 and a 200-day simple moving average of $31.61. The company has a market capitalization of $3.44 billion, a PE ratio of 15.05 and a beta of 0.85.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. On average, equities research analysts expect that First Interstate BancSystem will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Monday, February 10th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.88 annualized dividend and a dividend yield of 5.71%. First Interstate BancSystem’s dividend payout ratio is presently 85.85%.

Insider Transactions at First Interstate BancSystem

In other news, major shareholder Julie A. Scott sold 22,050 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total value of $745,290.00. Following the completion of the sale, the insider now owns 613,019 shares of the company’s stock, valued at $20,720,042.20. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction, the insider now owns 75,387 shares in the company, valued at $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 a total of 54,837 shares of company stock worth $1,839,583 in the last ninety days. Insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On First Interstate BancSystem

Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new stake in First Interstate BancSystem during the 2nd quarter worth $825,000. AQR Capital Management LLC acquired a new stake in shares of First Interstate BancSystem during the second quarter valued at about $242,000. The Manufacturers Life Insurance Company increased its position in shares of First Interstate BancSystem by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 49,348 shares of the financial services provider’s stock worth $1,370,000 after acquiring an additional 598 shares during the last quarter. Algert Global LLC acquired a new position in shares of First Interstate BancSystem in the second quarter worth about $261,000. Finally, Creative Planning boosted its holdings in First Interstate BancSystem by 11.6% in the second quarter. Creative Planning now owns 24,415 shares of the financial services provider’s stock valued at $678,000 after purchasing an additional 2,545 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Company Profile

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.