First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives $30.20 Average Price Target from Brokerages

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have been assigned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $30.20.

A number of brokerages recently weighed in on FIBK. Keefe, Bruyette & Woods raised their price target on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. TheStreet downgraded First Interstate BancSystem from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. Stephens reiterated an “overweight” rating and set a $32.00 price target on shares of First Interstate BancSystem in a research report on Thursday, April 25th. Piper Sandler increased their price objective on First Interstate BancSystem from $32.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Finally, Wells Fargo & Company lifted their target price on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th.

Insider Activity

In related news, 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 sale, the executive vice president now owns 20,599 shares of the company’s stock, valued at $551,229.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related 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 owns 6,909 shares in the company, valued at $179,979.45. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Karlyn M. Knieriem sold 2,900 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were 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 in the company, valued at $551,229.24. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Caprock Group LLC lifted its stake in First Interstate BancSystem by 1.8% in the first quarter. Caprock Group LLC now owns 25,251 shares of the financial services provider’s stock valued at $687,000 after buying an additional 437 shares during the last quarter. Global Retirement Partners LLC boosted its stake in First Interstate BancSystem by 132.8% during the 4th quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 530 shares during the period. Inspire Investing LLC boosted its stake in First Interstate BancSystem by 4.6% during the 1st quarter. Inspire Investing LLC now owns 13,057 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 570 shares during the period. Signaturefd LLC grew its position in First Interstate BancSystem by 22.0% during the 3rd quarter. Signaturefd LLC now owns 3,886 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 700 shares during the last quarter. Finally, CWM LLC increased its stake in First Interstate BancSystem by 42.1% in the fourth quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 702 shares during the period. 88.71% of the stock is owned by hedge funds and other institutional investors.

First Interstate BancSystem Stock Down 0.5 %

First Interstate BancSystem stock opened at $27.76 on Monday. First Interstate BancSystem has a 12 month low of $20.81 and a 12 month high of $32.54. The stock has a market capitalization of $2.90 billion, a PE ratio of 11.06 and a beta of 0.85. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.78 and a quick ratio of 0.78. The business has a 50 day simple moving average of $26.52 and a 200-day simple moving average of $27.24.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.57 EPS for the quarter, topping the consensus estimate of $0.53 by $0.04. The company had revenue of $242.20 million during the quarter, compared to analyst estimates of $236.80 million. First Interstate BancSystem had a net margin of 17.76% and a return on equity of 8.51%. On average, analysts anticipate that First Interstate BancSystem will post 2.25 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were issued a dividend of $0.47 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.88 annualized dividend and a yield of 6.77%. First Interstate BancSystem’s dividend payout ratio (DPR) is 74.90%.

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.