First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives Consensus Rating of “Moderate Buy” from Brokerages

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has received an average rating of “Moderate Buy” from the four ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $29.00.

A number of equities analysts have recently commented on the company. TheStreet cut First Interstate BancSystem from a “b-” rating to a “c+” rating in a report on Monday, March 18th. Barclays initiated coverage on First Interstate BancSystem in a research note on Friday, March 8th. They set an “equal weight” rating and a $28.00 target price for the company. Stephens restated an “overweight” rating and issued a $32.00 price target on shares of First Interstate BancSystem in a research note on Thursday. Finally, Wells Fargo & Company upped their price objective on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th.

Insider Activity

In other First Interstate BancSystem news, insider Lorrie F. Asker sold 1,921 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total value of $50,042.05. Following the completion of the transaction, the insider now directly owns 6,909 shares in the company, valued at approximately $179,979.45. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Karlyn M. Knieriem sold 2,900 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $26.76, for a total transaction of $77,604.00. Following the completion of the transaction, the executive vice president now directly owns 20,599 shares of the company’s stock, valued at approximately $551,229.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lorrie F. Asker sold 1,921 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total value of $50,042.05. Following the completion of the sale, the insider now owns 6,909 shares in the company, valued at approximately $179,979.45. The disclosure for this sale can be found here. Insiders sold 7,531 shares of company stock valued at $197,645 over the last quarter. 6.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Interstate BancSystem

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC raised its holdings in First Interstate BancSystem by 132.8% during the 4th quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 530 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of First Interstate BancSystem during the fourth quarter worth $39,000. Parallel Advisors LLC lifted its holdings in First Interstate BancSystem by 205.3% in the fourth quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock valued at $39,000 after buying an additional 856 shares during the period. CWM LLC lifted its holdings in First Interstate BancSystem by 42.1% in the fourth quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock valued at $73,000 after buying an additional 702 shares during the period. Finally, Headlands Technologies LLC bought a new stake in First Interstate BancSystem during the third quarter valued at $81,000. 88.71% of the stock is owned by institutional investors and hedge funds.

First Interstate BancSystem Price Performance

NASDAQ FIBK traded up $0.38 during midday trading on Thursday, hitting $26.95. The company had a trading volume of 1,300,799 shares, compared to its average volume of 834,619. The firm has a 50-day moving average price of $26.08 and a 200-day moving average price of $26.66. The company has a market capitalization of $2.80 billion, a PE ratio of 10.87 and a beta of 0.87. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.89. First Interstate BancSystem has a twelve month low of $20.81 and a twelve month high of $32.54.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.47%. The business had revenue of $252.30 million during the quarter, compared to analysts’ expectations of $254.50 million. As a group, analysts anticipate that First Interstate BancSystem will post 2.17 earnings per share for the current fiscal year.

First Interstate BancSystem Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 19th. Stockholders of record on Friday, February 9th were issued a dividend of $0.47 per share. This is a boost from First Interstate BancSystem’s previous quarterly dividend of $0.20. This represents a $1.88 annualized dividend and a dividend yield of 6.98%. The ex-dividend date of this dividend was Thursday, February 8th. First Interstate BancSystem’s payout ratio is 75.81%.

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.