First Interstate BancSystem, Inc. (NASDAQ:FIBK) Short Interest Up 7.7% in January

First Interstate BancSystem, Inc. (NASDAQ:FIBK) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 2,510,000 shares, a growth of 7.7% from the December 31st total of 2,330,000 shares. Based on an average trading volume of 633,900 shares, the days-to-cover ratio is presently 4.0 days.

Analysts Set New Price Targets

Several equities analysts recently commented on FIBK shares. Keefe, Bruyette & Woods increased their target price on First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. DA Davidson reaffirmed a “buy” rating and set a $42.00 price target on shares of First Interstate BancSystem in a research report on Thursday, January 30th. StockNews.com downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Tuesday, December 24th. Piper Sandler cut their target price on shares of First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Stephens decreased their price target on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $36.14.

First Interstate BancSystem Stock Up 1.1 %

FIBK stock opened at $32.08 on Tuesday. The stock has a market capitalization of $3.35 billion, a PE ratio of 14.65 and a beta of 0.85. The company has a fifty day moving average of $33.10 and a 200-day moving average of $31.61. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. First Interstate BancSystem has a one year low of $24.16 and a one year high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. As a group, analysts expect that First Interstate BancSystem will post 2.54 EPS for the current year.

First Interstate BancSystem Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 10th will be given a dividend of $0.47 per share. The ex-dividend date is Monday, February 10th. This represents a $1.88 dividend on an annualized basis and a yield of 5.86%. First Interstate BancSystem’s payout ratio is 85.85%.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder James R. Scott, Jr. sold 6,067 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $34.50, for a total transaction of $209,311.50. Following the transaction, the insider now directly owns 75,387 shares in the company, valued at $2,600,851.50. This represents a 7.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Julie A. Scott sold 20,220 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $32.78, for a total value of $662,811.60. Following the transaction, the insider now owns 635,069 shares of the company’s stock, valued at $20,817,561.82. This trade represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,837 shares of company stock valued at $1,839,583 over the last quarter. 6.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Point72 DIFC Ltd acquired a new position in First Interstate BancSystem during the third quarter worth approximately $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in First Interstate BancSystem during the third quarter worth about $69,000. KBC Group NV lifted its stake in shares of First Interstate BancSystem by 34.1% in the 4th quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 1,022 shares in the last quarter. CWM LLC grew its holdings in shares of First Interstate BancSystem by 65.0% during the 3rd quarter. CWM LLC now owns 5,152 shares of the financial services provider’s stock worth $158,000 after purchasing an additional 2,029 shares during the period. Finally, Telos Capital Management Inc. acquired a new stake in First Interstate BancSystem during the 3rd quarter worth approximately $201,000. 88.71% of the stock is currently owned by institutional investors and hedge funds.

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.