First Interstate BancSystem (NASDAQ:FIBK) Price Target Increased to $32.00 by Analysts at Barclays

First Interstate BancSystem (NASDAQ:FIBK) had its target price upped by Barclays from $31.00 to $32.00 in a research note released on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on FIBK. Piper Sandler reaffirmed an overweight rating and set a $38.00 price target on shares of First Interstate BancSystem in a report on Monday, August 26th. Stephens raised their target price on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock an overweight rating in a research note on Monday, July 29th. StockNews.com lowered shares of First Interstate BancSystem from a hold rating to a sell rating in a research note on Friday, September 20th. Wells Fargo & Company boosted their price objective on First Interstate BancSystem from $25.00 to $30.00 and gave the stock an equal weight rating in a report on Monday, July 29th. Finally, DA Davidson upped their target price on First Interstate BancSystem from $27.00 to $34.00 and gave the company a neutral rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, First Interstate BancSystem currently has a consensus rating of Hold and a consensus price target of $33.50.

First Interstate BancSystem Stock Up 0.5 %

FIBK stock opened at $30.37 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.92. The business has a 50 day moving average price of $30.05 and a two-hundred day moving average price of $27.97. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 12.10 and a beta of 0.82. First Interstate BancSystem has a twelve month low of $20.81 and a twelve month high of $33.00.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The firm had revenue of $244.30 million during the quarter, compared to the consensus estimate of $246.07 million. First Interstate BancSystem had a return on equity of 8.19% and a net margin of 17.22%. During the same period last year, the company earned $0.66 earnings per share. Analysts anticipate that First Interstate BancSystem will post 2.34 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 6.19%. The ex-dividend date was Monday, August 5th. First Interstate BancSystem’s payout ratio is 74.90%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FIBK. Norges Bank bought a new position in shares of First Interstate BancSystem in the fourth quarter worth $26,584,000. Vanguard Group Inc. increased its position in shares of First Interstate BancSystem by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 9,180,595 shares of the financial services provider’s stock worth $282,303,000 after purchasing an additional 533,293 shares during the period. Dimensional Fund Advisors LP increased its position in shares of First Interstate BancSystem by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider’s stock worth $127,204,000 after purchasing an additional 367,212 shares during the period. Wellington Management Group LLP increased its position in shares of First Interstate BancSystem by 5.0% in the fourth quarter. Wellington Management Group LLP now owns 2,970,727 shares of the financial services provider’s stock worth $91,350,000 after purchasing an additional 142,069 shares during the period. Finally, Hantz Financial Services Inc. bought a new position in shares of First Interstate BancSystem in the second quarter worth $3,003,000. Institutional investors 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.