Brokerages Set First Interstate BancSystem, Inc. (NASDAQ:FIBK) Price Target at $36.14

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have been given a consensus recommendation of “Hold” by the seven research firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $36.14.

Several analysts recently commented on FIBK shares. DA Davidson reaffirmed a “buy” rating and set a $42.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Keefe, Bruyette & Woods lifted their price target on First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler dropped their price target on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. StockNews.com raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Wells Fargo & Company lifted their price target on First Interstate BancSystem from $29.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd.

Insider Buying and Selling

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $32.56, for a total transaction of $43,467.60. Following the completion of the sale, the director now owns 1,414,886 shares in the company, valued at $46,068,688.16. The trade was a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 6.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Interstate BancSystem

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wood Tarver Financial Group LLC acquired a new stake in shares of First Interstate BancSystem in the fourth quarter valued at approximately $26,000. Point72 DIFC Ltd acquired a new stake in shares of First Interstate BancSystem in the third quarter valued at approximately $34,000. Meeder Asset Management Inc. acquired a new position in First Interstate BancSystem during the fourth quarter valued at approximately $69,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in First Interstate BancSystem during the third quarter valued at approximately $69,000. Finally, Covestor Ltd raised its position in First Interstate BancSystem by 25.8% during the fourth quarter. Covestor Ltd now owns 2,485 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 510 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

First Interstate BancSystem Stock Up 0.2 %

NASDAQ FIBK opened at $28.70 on Friday. The firm has a market cap of $3.00 billion, a PE ratio of 13.11 and a beta of 0.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The stock’s 50 day simple moving average is $31.20 and its 200 day simple moving average is $31.74. First Interstate BancSystem has a one year low of $24.16 and a one year high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. As a group, sell-side analysts forecast that First Interstate BancSystem will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 6.55%. The ex-dividend date was Monday, February 10th. First Interstate BancSystem’s payout ratio is currently 85.84%.

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.