Analysts Set First Interstate BancSystem, Inc. (NASDAQ:FIBK) PT at $36.83

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has received an average rating of “Reduce” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $36.8333.

FIBK has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. Wall Street Zen raised shares of First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a report on Monday, June 22nd. DA Davidson restated a “neutral” rating and set a $39.00 target price on shares of First Interstate BancSystem in a research report on Monday, July 27th. UBS Group raised their price target on First Interstate BancSystem from $30.00 to $33.00 and gave the stock a “sell” rating in a report on Friday, May 1st. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $37.00 price target (down from $38.00) on shares of First Interstate BancSystem in a report on Friday, May 1st.

First Interstate BancSystem Stock Up 0.2%

Shares of NASDAQ FIBK opened at $37.27 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $3.55 billion, a PE ratio of 11.47 and a beta of 0.76. First Interstate BancSystem has a one year low of $29.10 and a one year high of $40.60. The business’s fifty day moving average price is $38.29 and its 200-day moving average price is $36.17.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.18. The company had revenue of $263.90 million during the quarter, compared to analyst estimates of $249.32 million. First Interstate BancSystem had a return on equity of 9.55% and a net margin of 23.63%.The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 EPS. On average, equities research analysts anticipate that First Interstate BancSystem will post 2.84 EPS for the current year.

First Interstate BancSystem Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Tuesday, August 4th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $1.88 dividend on an annualized basis and a yield of 5.0%. First Interstate BancSystem’s dividend payout ratio is 57.85%.

Insider Activity

In other First Interstate BancSystem news, major shareholder Jonathan R. Scott sold 12,892 shares of First Interstate BancSystem stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $35.58, for a total transaction of $458,697.36. Following the completion of the transaction, the insider owned 866,628 shares of the company’s stock, valued at $30,834,624.24. The trade was a 1.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Julie A. Scott sold 15,000 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $35.97, for a total value of $539,550.00. Following the sale, the insider owned 488,359 shares in the company, valued at approximately $17,566,273.23. This represents a 2.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 32,392 shares of company stock valued at $1,161,552. 8.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Interstate BancSystem

A number of large investors have recently modified their holdings of the company. Eurizon Capital SGR S.p.A. purchased a new position in First Interstate BancSystem during the fourth quarter valued at approximately $25,000. Kestra Advisory Services LLC purchased a new stake in First Interstate BancSystem in the 4th quarter worth approximately $29,000. EverSource Wealth Advisors LLC lifted its stake in First Interstate BancSystem by 139.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 862 shares in the last quarter. CIBC Private Wealth Group LLC bought a new position in First Interstate BancSystem in the 3rd quarter valued at $52,000. Finally, Danske Bank A S bought a new position in First Interstate BancSystem in the 3rd quarter valued at $57,000. 88.71% of the stock is currently owned by institutional investors.

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.