First Interstate BancSystem (NASDAQ:FIBK) Shares Pass Above 200 Day Moving Average – Should You Sell?

First Interstate BancSystem, Inc. (NASDAQ:FIBK) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $31.32 and traded as high as $35.92. First Interstate BancSystem shares last traded at $35.6850, with a volume of 429,925 shares changing hands.

Analysts Set New Price Targets

FIBK has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Interstate BancSystem in a report on Monday. UBS Group boosted their price objective on shares of First Interstate BancSystem from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Keefe, Bruyette & Woods lifted their target price on First Interstate BancSystem from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. DA Davidson increased their price objective on shares of First Interstate BancSystem from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Finally, Wall Street Zen cut shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, First Interstate BancSystem currently has an average rating of “Hold” and a consensus price target of $36.86.

First Interstate BancSystem Trading Down 0.4%

The stock has a market capitalization of $3.67 billion, a P/E ratio of 15.07 and a beta of 0.82. The company has a 50-day moving average price of $32.88 and a 200 day moving average price of $31.35. The company has a current ratio of 0.74, a quick ratio of 0.73 and a debt-to-equity ratio of 0.09.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Thursday, November 6th. The financial services provider reported $0.69 EPS for the quarter. The company had revenue of $250.50 million during the quarter. First Interstate BancSystem had a net margin of 17.62% and a return on equity of 7.25%. On average, research analysts forecast that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were issued a dividend of $0.47 per share. The ex-dividend date was Monday, November 10th. This represents a $1.88 annualized dividend and a dividend yield of 5.3%. First Interstate BancSystem’s dividend payout ratio is 79.32%.

Insider Activity at First Interstate BancSystem

In other news, major shareholder Susan Scott Heyneman Trust, Su sold 10,000 shares of First Interstate BancSystem stock in a transaction on Monday, December 1st. The shares were sold at an average price of $32.75, for a total transaction of $327,500.00. Following the completion of the sale, the insider directly owned 224,460 shares in the company, valued at approximately $7,351,065. The trade was a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Jonathan R. Scott sold 13,715 shares of the company’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $32.09, for a total value of $440,114.35. Following the completion of the transaction, the insider directly owned 959,109 shares in the company, valued at approximately $30,777,807.81. The trade was a 1.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 92,232 shares of company stock valued at $2,913,388 in the last three months. 8.20% of the stock is owned by insiders.

Institutional Investors Weigh In On First Interstate BancSystem

A number of large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its stake in First Interstate BancSystem by 39.9% during the 1st quarter. Russell Investments Group Ltd. now owns 55,484 shares of the financial services provider’s stock valued at $1,590,000 after acquiring an additional 15,822 shares during the period. Quantbot Technologies LP purchased a new stake in First Interstate BancSystem during the first quarter worth $215,000. Hsbc Holdings PLC grew its position in First Interstate BancSystem by 122.6% during the first quarter. Hsbc Holdings PLC now owns 46,871 shares of the financial services provider’s stock valued at $1,343,000 after buying an additional 25,813 shares during the period. AlphaQuest LLC boosted its stake in shares of First Interstate BancSystem by 307.4% during the 1st quarter. AlphaQuest LLC now owns 13,400 shares of the financial services provider’s stock worth $384,000 after acquiring an additional 10,111 shares in the last quarter. Finally, Keeley Teton Advisors LLC grew its position in shares of First Interstate BancSystem by 36.4% during the 1st quarter. Keeley Teton Advisors LLC now owns 16,597 shares of the financial services provider’s stock valued at $476,000 after acquiring an additional 4,427 shares during the period. Hedge funds and other institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.