First Interstate BancSystem (NASDAQ:FIBK) PT Lowered to $36.00 at Piper Sandler

First Interstate BancSystem (NASDAQ:FIBK) had its target price decreased by Piper Sandler from $38.00 to $36.00 in a report published on Monday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

A number of other research analysts also recently issued reports on the company. Keefe, Bruyette & Woods lifted their price target on First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Wells Fargo & Company lowered First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $30.00 to $28.00 in a research note on Tuesday, October 1st. DA Davidson boosted their target price on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Stephens restated an “overweight” rating and issued a $36.00 price target on shares of First Interstate BancSystem in a report on Thursday, October 10th. Finally, Barclays boosted their price objective on shares of First Interstate BancSystem from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, First Interstate BancSystem currently has a consensus rating of “Hold” and a consensus target price of $32.83.

First Interstate BancSystem Stock Up 2.6 %

NASDAQ:FIBK opened at $31.75 on Monday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.79 and a quick ratio of 0.79. First Interstate BancSystem has a 1-year low of $22.74 and a 1-year high of $33.00. The company has a 50-day moving average of $30.46 and a 200 day moving average of $28.65. The firm has a market cap of $3.32 billion, a PE ratio of 12.65 and a beta of 0.81.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 8.19% and a net margin of 17.22%. During the same quarter in the previous year, the firm posted $0.70 earnings per share. As a group, research analysts anticipate that First Interstate BancSystem will post 2.34 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date of this dividend is Monday, November 4th. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 74.90%.

Institutional Investors Weigh In On First Interstate BancSystem

Several institutional investors and hedge funds have recently made changes to their positions in FIBK. TNF LLC raised its stake in First Interstate BancSystem by 1.5% in the 3rd quarter. TNF LLC now owns 25,376 shares of the financial services provider’s stock worth $812,000 after acquiring an additional 367 shares during the last quarter. Caprock Group LLC raised its stake in shares of First Interstate BancSystem by 1.7% in the second quarter. Caprock Group LLC now owns 25,673 shares of the financial services provider’s stock worth $713,000 after purchasing an additional 422 shares during the last quarter. CWM LLC lifted its holdings in shares of First Interstate BancSystem by 16.0% during the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 430 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in First Interstate BancSystem by 5.3% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider’s stock valued at $311,000 after buying an additional 507 shares during the last quarter. Finally, Inspire Investing LLC increased its holdings in First Interstate BancSystem by 4.6% in the 1st quarter. Inspire Investing LLC now owns 13,057 shares of the financial services provider’s stock worth $355,000 after buying an additional 570 shares during the period. 88.71% of the stock is currently owned by institutional investors and hedge funds.

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.