Brokerages Set First Interstate BancSystem, Inc. (NASDAQ:FIBK) Price Target at $35.17

First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) has been assigned a consensus recommendation of "Hold" from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $35.17.

A number of analysts have recently commented on the stock. Piper Sandler cut their target price on shares of First Interstate BancSystem from $38.00 to $36.00 and set an "overweight" rating for the company in a research note on Monday, October 28th. Stephens reissued an "overweight" rating and set a $36.00 target price on shares of First Interstate BancSystem in a research note on Thursday, October 10th. StockNews.com raised shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a research note on Thursday, November 28th. Keefe, Bruyette & Woods boosted their target price on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock a "market perform" rating in a research note on Wednesday. Finally, Wells Fargo & Company boosted their target price on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the stock an "underweight" rating in a research note on Tuesday.

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 dated Friday, November 22nd. The shares were sold at an average price of $34.50, for a total value of $209,311.50. Following the transaction, the insider now directly owns 75,387 shares in the company, valued at $2,600,851.50. The trade was a 7.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Julie A. Scott sold 20,220 shares of the business's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $32.78, for a total transaction of $662,811.60. Following the completion of the transaction, the insider now owns 635,069 shares in the company, valued at $20,817,561.82. The trade was a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,837 shares of company stock valued at $1,839,583. Corporate insiders own 6.90% of the company's stock.

Hedge Funds Weigh In On First Interstate BancSystem

Large investors have recently made changes to their positions in the stock. Point72 DIFC Ltd acquired a new stake in First Interstate BancSystem during the 3rd quarter worth approximately $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in First Interstate BancSystem during the 3rd quarter worth $69,000. CWM LLC raised its stake in First Interstate BancSystem by 16.0% during the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider's stock worth $87,000 after acquiring an additional 430 shares in the last quarter. Innealta Capital LLC acquired a new stake in First Interstate BancSystem during the 2nd quarter worth $106,000. Finally, nVerses Capital LLC raised its stake in First Interstate BancSystem by 412.5% during the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider's stock worth $114,000 after acquiring an additional 3,300 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

First Interstate BancSystem Stock Performance

NASDAQ FIBK traded up $0.18 on Friday, reaching $34.46. 437,784 shares of the company's stock traded hands, compared to its average volume of 671,591. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 15.11 and a beta of 0.84. The stock has a 50 day moving average price of $32.35 and a 200-day moving average price of $30.00. 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 debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same quarter last year, the company earned $0.70 EPS. Equities research analysts predict that First Interstate BancSystem will post 2.28 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Monday, November 4th. This represents a $1.88 annualized dividend and a yield of 5.46%. First Interstate BancSystem's dividend payout ratio is presently 82.46%.

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.