Weekly Analysts’ Ratings Updates for First Interstate BancSystem (FIBK)

Posted by Faye Duncan on Dec 2nd, 2024

A number of firms have modified their ratings and price targets on shares of First Interstate BancSystem (NASDAQ: FIBK) recently:

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.
10/10/2024 – First Interstate BancSystem had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $36.00 price target on the stock.
10/3/2024 – First Interstate BancSystem was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.

First Interstate BancSystem Price Performance

Shares of NASDAQ FIBK opened at $34.97 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. First Interstate BancSystem, Inc. has a 1-year low of $24.16 and a 1-year high of $36.77. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 15.34 and a beta of 0.81. The business has a 50-day moving average of $31.93 and a 200-day moving average of $29.80.

First Interstate BancSystem (NASDAQ:FIBK – Get Free Report) last released its quarterly 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 firm posted $0.70 earnings per share. On average, equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.28 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 5.38%. The ex-dividend date of this dividend was Monday, November 4th. First Interstate BancSystem’s dividend payout ratio (DPR) is 82.46%.

Insiders Place Their Bets

In other news, Director Jonathan R. Scott sold 6,500 shares of First Interstate BancSystem stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total transaction of $222,170.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $34.50, for a total value of $209,311.50. Following the completion of the transaction, the insider now owns 75,387 shares in the company, valued at approximately $2,600,851.50. This trade represents a 7.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,837 shares of company stock worth $1,839,583 in the last quarter. 6.90% of the stock is owned by corporate insiders.

Institutional Trading of First Interstate BancSystem

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in First Interstate BancSystem by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider’s stock valued at $127,204,000 after acquiring an additional 367,212 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of First Interstate BancSystem by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,051,632 shares of the financial services provider’s stock worth $56,974,000 after purchasing an additional 32,348 shares during the last quarter. Geode Capital Management LLC grew its stake in First Interstate BancSystem by 3.1% in the third quarter. Geode Capital Management LLC now owns 1,992,873 shares of the financial services provider’s stock worth $61,152,000 after purchasing an additional 59,367 shares in the last quarter. Wellington Management Group LLP increased its holdings in First Interstate BancSystem by 6.5% in the third quarter. Wellington Management Group LLP now owns 1,288,214 shares of the financial services provider’s stock valued at $39,522,000 after buying an additional 78,596 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in First Interstate BancSystem by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,073,814 shares of the financial services provider’s stock valued at $32,945,000 after buying an additional 52,919 shares in the last quarter. Institutional investors own 88.71% of the company’s stock.

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.