First Interstate BancSystem (NASDAQ:FIBK) Price Target Increased to $29.00 by Analysts at Keefe, Bruyette & Woods

First Interstate BancSystem (NASDAQ:FIBK) had its target price lifted by Keefe, Bruyette & Woods from $28.00 to $29.00 in a research report sent to investors on Friday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Several other equities research analysts have also weighed in on the company. Wells Fargo & Company lifted their price objective on First Interstate BancSystem from $23.00 to $24.00 and gave the stock an equal weight rating in a report on Wednesday, April 10th. Stephens reissued an overweight rating and issued a $32.00 price objective on shares of First Interstate BancSystem in a report on Thursday. Barclays assumed coverage on First Interstate BancSystem in a report on Friday, March 8th. They issued an equal weight rating and a $28.00 price objective for the company. Finally, TheStreet lowered First Interstate BancSystem from a b- rating to a c+ rating in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $29.20.

First Interstate BancSystem Trading Up 0.2 %

Shares of First Interstate BancSystem stock opened at $27.00 on Friday. First Interstate BancSystem has a 1 year low of $20.81 and a 1 year high of $32.54. The firm has a market cap of $2.81 billion, a PE ratio of 10.76 and a beta of 0.87. The stock has a fifty day moving average price of $26.10 and a 200-day moving average price of $26.68. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.77 and a quick ratio of 0.76.

First Interstate BancSystem (NASDAQ:FIBK) last announced 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 return on equity of 8.55% and a net margin of 18.04%. The company had revenue of $252.30 million during the quarter, compared to analyst estimates of $254.50 million. Equities research analysts anticipate that First Interstate BancSystem will post 2.17 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 6.96%. The ex-dividend date is Friday, May 3rd. First Interstate BancSystem’s payout ratio is presently 74.90%.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, EVP Karlyn M. Knieriem sold 2,900 shares of First Interstate BancSystem stock in a transaction dated 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 owns 20,599 shares of the company’s stock, valued at approximately $551,229.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Karlyn M. Knieriem sold 2,900 shares of First Interstate BancSystem stock in a transaction dated 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 sale, the executive vice president now owns 20,599 shares in the company, valued at approximately $551,229.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Lorrie F. Asker sold 1,921 shares of First Interstate BancSystem 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 sale, the insider now owns 6,909 shares of the company’s stock, 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 in the last quarter. 6.90% of the stock is currently owned by corporate insiders.

Institutional Trading of First Interstate BancSystem

A number of large investors have recently modified their holdings of FIBK. abrdn plc lifted its position in First Interstate BancSystem by 8.4% in the 4th quarter. abrdn plc now owns 923,489 shares of the financial services provider’s stock worth $28,397,000 after buying an additional 71,839 shares during the last quarter. Wellington Management Group LLP lifted its position in First Interstate BancSystem by 11.3% in the 3rd quarter. Wellington Management Group LLP now owns 2,828,658 shares of the financial services provider’s stock worth $70,547,000 after buying an additional 286,160 shares during the last quarter. FMR LLC lifted its position in First Interstate BancSystem by 0.4% in the 3rd quarter. FMR LLC now owns 6,451,758 shares of the financial services provider’s stock worth $160,907,000 after buying an additional 28,343 shares during the last quarter. American Century Companies Inc. lifted its position in First Interstate BancSystem by 4.1% in the 3rd quarter. American Century Companies Inc. now owns 2,224,365 shares of the financial services provider’s stock worth $55,476,000 after buying an additional 87,039 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in First Interstate BancSystem by 99.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,870 shares of the financial services provider’s stock worth $150,000 after buying an additional 2,430 shares during the last quarter. Institutional investors own 88.71% of the company’s stock.

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.