First Interstate BancSystem (NASDAQ:FIBK) Upgraded at StockNews.com

StockNews.com upgraded shares of First Interstate BancSystem (NASDAQ:FIBK - Free Report) from a sell rating to a hold rating in a research report sent to investors on Thursday.

Other analysts have also issued reports about the company. Wells Fargo & Company lowered First Interstate BancSystem from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $30.00 to $28.00 in a research report on Tuesday, October 1st. Piper Sandler decreased their price objective on First Interstate BancSystem from $38.00 to $36.00 and set an "overweight" rating for the company in a report on Monday, October 28th. Stephens reaffirmed an "overweight" rating and set a $36.00 target price on shares of First Interstate BancSystem in a research report on Thursday, October 10th. Barclays lowered shares of First Interstate BancSystem from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $32.00 to $30.00 in a research note on Thursday, October 31st. Finally, DA Davidson raised shares of First Interstate BancSystem from a "neutral" rating to a "buy" rating and raised their price objective for the company from $32.00 to $42.00 in a research note on Tuesday. Two equities research 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. According to MarketBeat, First Interstate BancSystem has a consensus rating of "Hold" and a consensus price target of $33.83.

First Interstate BancSystem Trading Down 0.2 %

Shares of First Interstate BancSystem stock traded down $0.06 on Thursday, reaching $35.35. 832,882 shares of the company's stock were exchanged, compared to its average volume of 676,518. The company has a market capitalization of $3.70 billion, a P/E ratio of 15.50 and a beta of 0.81. First Interstate BancSystem has a 52 week low of $24.16 and a 52 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. The firm's 50-day moving average is $31.79 and its two-hundred day moving average is $29.68.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (EPS) 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 business earned $0.70 EPS. Sell-side analysts predict that First Interstate BancSystem will post 2.28 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date was Monday, November 4th. First Interstate BancSystem's payout ratio is currently 82.46%.

Insiders Place Their Bets

In other news, Director Jonathan R. Scott sold 6,500 shares of the firm's stock in a transaction 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 completion of the sale, the director now directly owns 958,710 shares of the company's stock, valued at $32,768,707.80. This trade represents a 0.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of the business's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $34.50, for a total transaction of $209,311.50. Following the completion of the transaction, the insider now directly owns 75,387 shares in the company, valued at $2,600,851.50. This trade represents a 7.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,837 shares of company stock valued at $1,839,583. Corporate insiders own 6.90% of the company's stock.

Institutional Trading of First Interstate BancSystem

Several hedge funds have recently added to or reduced their stakes in FIBK. Price T Rowe Associates Inc. MD increased its stake in shares of First Interstate BancSystem by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,919 shares of the financial services provider's stock worth $1,413,000 after purchasing an additional 2,940 shares during the last quarter. Bayesian Capital Management LP purchased a new position in shares of First Interstate BancSystem during the 1st quarter valued at $286,000. CWM LLC lifted its position in shares of First Interstate BancSystem by 16.0% during the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider's stock valued at $87,000 after buying an additional 430 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of First Interstate BancSystem by 79.5% during the 2nd quarter. SG Americas Securities LLC now owns 18,021 shares of the financial services provider's stock worth $500,000 after acquiring an additional 7,979 shares during the period. Finally, SteelPeak Wealth LLC purchased a new stake in First Interstate BancSystem in the 2nd quarter worth about $241,000. Institutional investors 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.