Brokerages Set First Interstate BancSystem, Inc. (NASDAQ:FIBK) Price Target at $36.14

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has been assigned an average rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $36.14.

FIBK has been the subject of a number of recent analyst reports. Piper Sandler decreased their price target on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. DA Davidson restated a “buy” rating and set a $42.00 price target on shares of First Interstate BancSystem in a report on Thursday, January 30th. Barclays raised their price objective on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the stock an “underweight” rating in a research note on Thursday, December 5th. Stephens cut their target price on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Wells Fargo & Company raised their target price on First Interstate BancSystem from $29.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, February 3rd.

First Interstate BancSystem Trading Down 3.2 %

Shares of NASDAQ:FIBK opened at $31.13 on Wednesday. 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 company’s 50-day moving average price is $32.45 and its 200 day moving average price is $31.81. The company has a market cap of $3.25 billion, a PE ratio of 14.22 and a beta of 0.85. First Interstate BancSystem has a fifty-two week low of $24.16 and a fifty-two week high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share 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%. Sell-side analysts anticipate that First Interstate BancSystem will post 2.53 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were issued a $0.47 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.88 annualized dividend and a yield of 6.04%. First Interstate BancSystem’s dividend payout ratio (DPR) is 85.84%.

Insider Transactions at First Interstate BancSystem

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $32.56, for a total value of $43,467.60. Following the completion of the transaction, the director now directly owns 1,414,886 shares of the company’s stock, valued at $46,068,688.16. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.90% of the stock is owned by insiders.

Hedge Funds Weigh In On First Interstate BancSystem

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 DIFC Ltd bought a new stake in shares of First Interstate BancSystem in the 3rd quarter worth about $34,000. Meeder Asset Management Inc. bought a new stake in First Interstate BancSystem during the fourth quarter worth about $69,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in First Interstate BancSystem during the third quarter worth about $69,000. Covestor Ltd increased its holdings in shares of First Interstate BancSystem by 25.8% during the fourth quarter. Covestor Ltd now owns 2,485 shares of the financial services provider’s stock worth $81,000 after buying an additional 510 shares in the last quarter. Finally, Sterling Capital Management LLC raised its stake in shares of First Interstate BancSystem by 826.3% in the fourth quarter. Sterling Capital Management LLC now owns 2,501 shares of the financial services provider’s stock valued at $81,000 after acquiring an additional 2,231 shares during the last quarter. 88.71% of the stock is owned by institutional investors.

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.