Investment Analysts’ Recent Ratings Updates for First Interstate BancSystem (FIBK)

A number of research firms have changed their ratings and price targets for First Interstate BancSystem (NASDAQ: FIBK):

• 12/17/2024 – First Interstate BancSystem is now covered by analysts at UBS Group AG. They set a “neutral” rating and a $35.00 price target on the stock.
• 12/5/2024 – First Interstate BancSystem had its price target raised by analysts at Barclays PLC from $30.00 to $31.00. They now have an “underweight” rating on the stock.
• 12/4/2024 – First Interstate BancSystem had its price target raised by analysts at Keefe, Bruyette & Woods from $32.00 to $36.00. They now have a “market perform” rating on the stock.
• 12/3/2024 – First Interstate BancSystem had its price target raised by analysts at Wells Fargo & Company from $28.00 to $30.00. They now have an “underweight” rating on the stock.
• 11/28/2024 – First Interstate BancSystem was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 11/26/2024 – First Interstate BancSystem was upgraded by analysts at DA Davidson from a “neutral” rating to a “buy” rating. They now have a $42.00 price target on the stock, up previously from $32.00.
• 11/20/2024 – First Interstate BancSystem was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 11/12/2024 – First Interstate BancSystem was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 10/31/2024 – First Interstate BancSystem was downgraded by analysts at Barclays PLC from an “equal weight” rating to an “underweight” rating. They now have a $30.00 price target on the stock, down previously from $32.00.
• 10/28/2024 – First Interstate BancSystem had its price target lowered by analysts at Piper Sandler from $38.00 to $36.00. They now have an “overweight” rating on the stock.

First Interstate BancSystem Trading Up 3.6 %

NASDAQ:FIBK traded up $1.12 during mid-day trading on Friday, hitting $32.64. 1,819,626 shares of the stock traded hands, compared to its average volume of 681,110. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem, Inc. has a 52 week low of $24.16 and a 52 week high of $36.77. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 14.32 and a beta of 0.84. The firm’s 50 day moving average is $33.05 and its two-hundred day moving average is $30.42.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same period in the previous year, the business posted $0.70 earnings per share. On average, equities research analysts predict that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.76%. The ex-dividend date of this dividend was Monday, November 4th. First Interstate BancSystem’s payout ratio is 82.46%.

Insider Activity

In other news, Director Jonathan R. Scott sold 6,500 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total value of $222,170.00. Following the completion of the transaction, the director now directly owns 958,710 shares of the company’s stock, valued at approximately $32,768,707.80. The trade was a 0.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Julie A. Scott sold 20,220 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $32.78, for a total value of $662,811.60. Following the sale, the insider now owns 635,069 shares of the company’s stock, valued at $20,817,561.82. This trade represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,837 shares of company stock worth $1,839,583. Company insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On First Interstate BancSystem

Institutional investors have recently bought and sold shares of the company. TNF LLC increased its holdings in shares of First Interstate BancSystem by 1.5% during the third quarter. TNF LLC now owns 25,376 shares of the financial services provider’s stock valued at $812,000 after acquiring an additional 367 shares in the last quarter. Caprock Group LLC increased its stake in First Interstate BancSystem by 1.7% during the 2nd quarter. Caprock Group LLC now owns 25,673 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 422 shares in the last quarter. Wrapmanager Inc. raised its holdings in shares of First Interstate BancSystem by 5.0% in the third quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider’s stock worth $275,000 after buying an additional 429 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of First Interstate BancSystem by 5.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider’s stock worth $311,000 after buying an additional 507 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of First Interstate BancSystem by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 49,348 shares of the financial services provider’s stock valued at $1,370,000 after buying an additional 598 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

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.