First Interstate BancSystem, Inc. (NASDAQ:FIBK) Stock Has Consensus Price Target of $37.14

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has been assigned an average rating of “Reduce” from the nine research firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $37.14.

FIBK has been the topic of several research analyst reports. Wall Street Zen downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Saturday, October 24th. Benchmark upgraded First Interstate BancSystem to a “hold” rating in a research note on Wednesday, September 23rd. Barclays lifted their target price on First Interstate BancSystem from $37.00 to $38.00 and gave the stock an “underweight” rating in a report on Monday, October 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of First Interstate BancSystem in a research report on Monday, September 28th. Finally, Stephens upped their target price on First Interstate BancSystem from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday, October 29th.

Insider Buying and Selling at First Interstate BancSystem

In other news, major shareholder Jonathan Scott sold 4,175 shares of the company’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $37.31, for a total value of $155,769.25. Following the sale, the insider directly owned 807,738 shares of the company’s stock, valued at $30,136,704.78. This represents a 0.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Scott, Jr. sold 3,108 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $38.00, for a total transaction of $118,104.00. Following the completion of the sale, the director owned 77,634 shares in the company, valued at $2,950,092. The trade was a 3.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 40,858 shares of company stock worth $1,520,287. Company insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On First Interstate BancSystem

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FIBK. EverSource Wealth Advisors LLC grew its holdings in First Interstate BancSystem by 17.7% during the first quarter. EverSource Wealth Advisors LLC now owns 2,099 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 315 shares during the period. Keybank National Association OH raised its position in First Interstate BancSystem by 5.8% during the third quarter. Keybank National Association OH now owns 8,901 shares of the financial services provider’s stock valued at $318,000 after acquiring an additional 491 shares in the last quarter. GAMMA Investing LLC raised its position in First Interstate BancSystem by 31.0% during the third quarter. GAMMA Investing LLC now owns 2,698 shares of the financial services provider’s stock valued at $96,000 after acquiring an additional 639 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in First Interstate BancSystem in the second quarter valued at approximately $26,000. Finally, Root Financial Partners LLC acquired a new position in First Interstate BancSystem in the third quarter valued at approximately $25,000. 88.71% of the stock is owned by institutional investors and hedge funds.

First Interstate BancSystem Stock Performance

Shares of First Interstate BancSystem stock opened at $37.80 on Friday. The firm’s 50 day simple moving average is $36.55 and its two-hundred day simple moving average is $36.33. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 11.78 and a beta of 0.73. First Interstate BancSystem has a 12-month low of $29.39 and a 12-month high of $40.60. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.09.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.03). First Interstate BancSystem had a net margin of 23.30% and a return on equity of 9.49%. The company had revenue of $43.30 million for the quarter, compared to analysts’ expectations of $247.93 million. Analysts predict that First Interstate BancSystem will post 2.79 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Tuesday, November 3rd will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 5.0%. The ex-dividend date is Tuesday, November 3rd. First Interstate BancSystem’s payout ratio is presently 58.57%.

About First Interstate BancSystem

First Interstate BancSystem, Inc is a financial holding company whose principal subsidiary is First Interstate Bank. The bank provides personal, business and agricultural banking services, including deposit accounts, loans, mortgage lending and treasury management.

Its other offerings include wealth management, trust and investment services, and insurance. The company serves individuals, businesses and communities across a multistate footprint in the western and north-central United States.

Established in Montana in 1968, First Interstate BancSystem has grown through the development of its banking operations and acquisitions.