First Interstate BancSystem (NASDAQ:FIBK) Price Target Raised to $30.00

First Interstate BancSystem (NASDAQ:FIBK) had its target price lifted by Wells Fargo & Company from $29.00 to $30.00 in a research note published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods raised their price objective on shares of 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 reduced their price target on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Barclays upped their price objective on First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. UBS Group initiated coverage on First Interstate BancSystem in a report on Tuesday, December 17th. They set a “neutral” rating and a $35.00 target price on the stock. Finally, DA Davidson reaffirmed a “buy” rating and issued a $42.00 price target on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, First Interstate BancSystem has a consensus rating of “Hold” and an average target price of $36.14.

First Interstate BancSystem Trading Up 1.8 %

FIBK stock opened at $33.03 on Monday. 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 has a twelve month low of $24.16 and a twelve month high of $36.77. The company has a market cap of $3.45 billion, a P/E ratio of 15.08 and a beta of 0.85. The business has a fifty day moving average of $32.97 and a 200-day moving average of $31.62.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share 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, equities research analysts expect that First Interstate BancSystem will post 2.54 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Monday, February 10th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 5.69%. The ex-dividend date is Monday, February 10th. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 85.84%.

Insider Activity at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder James R. Scott, Jr. sold 6,067 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $34.50, for a total value of $209,311.50. Following the sale, the insider now owns 75,387 shares in the company, valued at approximately $2,600,851.50. The trade was a 7.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jonathan R. Scott sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total transaction of $222,170.00. Following the transaction, the director now directly owns 958,710 shares of the company’s stock, valued at $32,768,707.80. This represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 54,837 shares of company stock worth $1,839,583. 6.90% of the stock is owned by company insiders.

Institutional Trading of First Interstate BancSystem

A number of institutional investors have recently made changes to their positions in FIBK. FourThought Financial Partners LLC acquired a new stake in First Interstate BancSystem in the 4th quarter valued at $242,000. Allied Investment Advisors LLC grew its holdings in shares of First Interstate BancSystem by 32.0% in the 4th quarter. Allied Investment Advisors LLC now owns 13,480 shares of the financial services provider’s stock valued at $438,000 after acquiring an additional 3,270 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of First Interstate BancSystem by 14.0% in the fourth quarter. New York State Common Retirement Fund now owns 26,866 shares of the financial services provider’s stock valued at $872,000 after acquiring an additional 3,300 shares during the last quarter. Kestra Investment Management LLC raised its holdings in First Interstate BancSystem by 105.1% during the fourth quarter. Kestra Investment Management LLC now owns 52,757 shares of the financial services provider’s stock worth $1,713,000 after acquiring an additional 27,030 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in First Interstate BancSystem by 1.4% in the fourth quarter. Rhumbline Advisers now owns 129,964 shares of the financial services provider’s stock valued at $4,220,000 after purchasing an additional 1,785 shares in the last quarter. Institutional investors own 88.71% of the company’s stock.

About First Interstate BancSystem

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.