First Interstate BancSystem (NASDAQ:FIBK) Lowered to "Sell" Rating by StockNews.com

StockNews.com cut shares of First Interstate BancSystem (NASDAQ:FIBK - Free Report) from a hold rating to a sell rating in a report published on Tuesday.

Several other analysts have also issued reports on the stock. Keefe, Bruyette & Woods increased 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 raised First Interstate BancSystem from a "neutral" rating to a "buy" rating and raised their target price for the company from $32.00 to $42.00 in a report on Tuesday, November 26th. Wells Fargo & Company boosted their price target on First Interstate BancSystem from $28.00 to $30.00 and gave the stock an "underweight" rating in a report on Tuesday, December 3rd. Stephens reaffirmed an "overweight" rating and issued a $36.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Finally, UBS Group initiated coverage on First Interstate BancSystem in a research note on Tuesday, December 17th. They set a "neutral" rating and a $35.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, First Interstate BancSystem has a consensus rating of "Hold" and a consensus price target of $35.14.

First Interstate BancSystem Price Performance

Shares of NASDAQ:FIBK traded up $0.24 during trading on Tuesday, reaching $32.77. 236,112 shares of the company traded hands, compared to its average volume of 679,113. The firm has a market capitalization of $3.43 billion, a PE ratio of 14.37 and a beta of 0.84. First Interstate BancSystem has a 52 week low of $24.16 and a 52 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. The company's 50 day moving average is $33.12 and its two-hundred day moving average is $30.57.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same quarter in the prior year, the firm posted $0.70 EPS. As a group, sell-side analysts predict that First Interstate BancSystem will post 2.28 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 5.74%. The ex-dividend date was Monday, November 4th. First Interstate BancSystem's dividend payout ratio (DPR) is 82.46%.

Insider Activity at First Interstate BancSystem

In related news, major shareholder James R. Scott, Jr. sold 6,067 shares of the company'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 transaction of $209,311.50. Following the transaction, the insider now directly owns 75,387 shares of the company's stock, valued at approximately $2,600,851.50. This represents a 7.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Julie A. Scott sold 22,050 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $33.80, for a total value of $745,290.00. Following the completion of the transaction, the insider now owns 613,019 shares in the company, valued at approximately $20,720,042.20. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,837 shares of company stock worth $1,839,583 in the last quarter. Company insiders own 6.90% of the company's stock.

Institutional Trading of First Interstate BancSystem

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. TNF LLC lifted its stake in shares of First Interstate BancSystem by 1.5% in the third quarter. TNF LLC now owns 25,376 shares of the financial services provider's stock valued at $812,000 after buying an additional 367 shares in the last quarter. Caprock Group LLC lifted its position in First Interstate BancSystem by 1.7% in the 2nd quarter. Caprock Group LLC now owns 25,673 shares of the financial services provider's stock valued at $713,000 after acquiring an additional 422 shares in the last quarter. Wrapmanager Inc. boosted its stake in First Interstate BancSystem by 5.0% during the 3rd quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider's stock valued at $275,000 after purchasing an additional 429 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in First Interstate BancSystem by 5.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider's stock worth $311,000 after purchasing an additional 507 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of First Interstate BancSystem by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 49,348 shares of the financial services provider's stock worth $1,370,000 after purchasing an additional 598 shares during 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.