First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives $36.14 Average Price Target from Analysts

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) have been given a consensus recommendation of "Hold" by the seven brokerages that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $36.14.

FIBK has been the subject of a number of analyst reports. Stephens reduced their price objective on shares of First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Wells Fargo & Company increased their price target on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the company an "underweight" rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods raised their price target on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. DA Davidson reaffirmed a "buy" rating and set a $42.00 price objective on shares of First Interstate BancSystem in a research report on Thursday, January 30th. Finally, Piper Sandler decreased their target price on 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.

First Interstate BancSystem Stock Down 3.2 %

NASDAQ FIBK traded down $1.04 during trading on Wednesday, reaching $31.13. The company's stock had a trading volume of 462,420 shares, compared to its average volume of 510,710. The business has a 50-day moving average price of $32.51 and a 200-day moving average price of $31.73. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem has a 1-year low of $24.16 and a 1-year high of $36.77. The stock has a market capitalization of $3.25 billion, a PE ratio of 14.22 and a beta of 0.85.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its quarterly earnings data 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%. On average, research analysts forecast that First Interstate BancSystem will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Monday, February 10th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 6.04%. The ex-dividend date of this dividend was Monday, February 10th. First Interstate BancSystem's payout ratio is presently 85.85%.

Insider Transactions at First Interstate BancSystem

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of First Interstate BancSystem 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 sale, the director now owns 1,414,886 shares of the company's stock, valued at approximately $46,068,688.16. This trade represents a 0.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.90% of the stock is owned by insiders.

Institutional Trading of First Interstate BancSystem

Institutional investors have recently bought and sold shares of the stock. Point72 DIFC Ltd acquired a new stake in First Interstate BancSystem in the 3rd quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in First Interstate BancSystem in the 3rd quarter valued at $69,000. Meeder Asset Management Inc. acquired a new stake in First Interstate BancSystem in the 4th quarter valued at $69,000. Covestor Ltd boosted its stake in First Interstate BancSystem by 25.8% in the 4th quarter. Covestor Ltd now owns 2,485 shares of the financial services provider's stock valued at $81,000 after buying an additional 510 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its stake in First Interstate BancSystem by 826.3% in the 4th quarter. Sterling Capital Management LLC now owns 2,501 shares of the financial services provider's stock valued at $81,000 after buying an additional 2,231 shares in 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.