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

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have received an average recommendation of “Hold” from the seven analysts that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $36.14.

FIBK has been the topic of several research analyst reports. DA Davidson reiterated a “buy” rating and set a $42.00 price target on shares of First Interstate BancSystem in a research report on Thursday, January 30th. Piper Sandler dropped their price target on shares of First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. UBS Group assumed coverage on shares of First Interstate BancSystem in a research report on Tuesday, December 17th. They set a “neutral” rating and a $35.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. Finally, Stephens reduced their target price on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 31st.

First Interstate BancSystem Price Performance

Shares of NASDAQ FIBK opened at $28.84 on Friday. The stock has a market cap of $3.01 billion, a P/E ratio of 13.17 and a beta of 0.84. The firm’s 50-day simple moving average is $31.35 and its 200 day simple moving average is $31.79. First Interstate BancSystem has a fifty-two week low of $24.16 and a fifty-two week high of $36.77. 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 (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. Equities analysts expect that First Interstate BancSystem will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 6.52%. The ex-dividend date of this dividend was Monday, February 10th. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 85.84%.

Insider Activity

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were 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 directly owns 1,414,886 shares in the company, valued at approximately $46,068,688.16. This trade represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Interstate BancSystem

A number of institutional investors have recently modified their holdings of FIBK. Wood Tarver Financial Group LLC purchased a new stake in shares of First Interstate BancSystem during the fourth quarter worth $26,000. Point72 DIFC Ltd bought a new position in First Interstate BancSystem during the third quarter valued at approximately $34,000. Meeder Asset Management Inc. acquired a new stake in First Interstate BancSystem in the fourth quarter valued at approximately $69,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in First Interstate BancSystem in the third quarter worth approximately $69,000. Finally, Covestor Ltd increased its stake in shares of First Interstate BancSystem by 25.8% during the 4th quarter. Covestor Ltd now owns 2,485 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 510 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

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.