First Interstate BancSystem (NASDAQ:FIBK) Lowered to “Sell” at StockNews.com

StockNews.com cut shares of First Interstate BancSystem (NASDAQ:FIBK) from a hold rating to a sell rating in a report released on Wednesday.

FIBK has been the topic of several other research reports. Barclays boosted their target price on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the company an equal weight rating in a report on Friday, April 26th. Wells Fargo & Company upped their target price on First Interstate BancSystem from $23.00 to $24.00 and gave the company an equal weight rating in a research report on Wednesday, April 10th. Stephens reiterated an overweight rating and issued a $32.00 target price on shares of First Interstate BancSystem in a report on Thursday, April 25th. TheStreet cut First Interstate BancSystem from a b- rating to a c+ rating in a report on Monday, March 18th. Finally, Piper Sandler lifted their price objective on shares of First Interstate BancSystem from $32.00 to $37.00 and gave the company an overweight rating in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, three have given 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 an average rating of Hold and a consensus target price of $30.20.

First Interstate BancSystem Price Performance

Shares of FIBK opened at $27.11 on Wednesday. The company has a market capitalization of $2.83 billion, a PE ratio of 10.80 and a beta of 0.85. The stock’s 50-day moving average price is $26.60 and its two-hundred day moving average price is $27.25. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.90. First Interstate BancSystem has a 12 month low of $20.81 and a 12 month high of $32.54.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.53 by $0.04. First Interstate BancSystem had a return on equity of 8.51% and a net margin of 17.76%. The business had revenue of $242.20 million for the quarter, compared to analysts’ expectations of $236.80 million. On average, analysts anticipate that First Interstate BancSystem will post 2.28 EPS for the current year.

First Interstate BancSystem Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.88 dividend on an annualized basis and a yield of 6.93%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 74.90%.

Insider Activity

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

Institutional Investors Weigh In On First Interstate BancSystem

Several institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC grew its stake in shares of First Interstate BancSystem by 132.8% in the 4th quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 530 shares in the last quarter. Wolverine Asset Management LLC purchased a new position in shares of First Interstate BancSystem in the 4th quarter worth approximately $39,000. Parallel Advisors LLC grew its holdings in shares of 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 acquiring an additional 856 shares in the last quarter. CWM LLC increased its position in shares of First Interstate BancSystem by 42.1% during the fourth quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 702 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in First Interstate BancSystem during the third quarter worth $81,000. 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.