First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives $36.83 Average Price Target from Analysts

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have earned an average rating of “Reduce” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $36.8333.

A number of brokerages have issued reports on FIBK. Wells Fargo & Company reissued an “underweight” rating and issued a $34.00 price target (down from $36.00) on shares of First Interstate BancSystem in a report on Monday, August 10th. Barclays lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $38.00 to $37.00 in a report on Monday, August 3rd. DA Davidson reiterated a “neutral” rating and issued a $39.00 target price on shares of First Interstate BancSystem in a research note on Monday, July 27th. Wall Street Zen raised shares of First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a report on Monday, June 22nd. Finally, Weiss Ratings upgraded shares of First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st.

First Interstate BancSystem Stock Performance

Shares of NASDAQ FIBK opened at $37.35 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.09. First Interstate BancSystem has a 12 month low of $29.10 and a 12 month high of $40.60. The company has a 50 day simple moving average of $37.89 and a two-hundred day simple moving average of $36.19. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 11.49 and a beta of 0.75.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.69 by $0.18. First Interstate BancSystem had a net margin of 23.63% and a return on equity of 9.55%. The business had revenue of $263.90 million for the quarter, compared to the consensus estimate of $249.32 million. During the same period in the prior year, the firm earned $0.69 EPS. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, analysts predict that First Interstate BancSystem will post 2.84 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Tuesday, August 4th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Tuesday, August 4th. First Interstate BancSystem’s dividend payout ratio is presently 57.85%.

Insider Transactions at First Interstate BancSystem

In other news, major shareholder Julie A. Scott sold 2,700 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $37.64, for a total transaction of $101,628.00. Following the sale, the insider directly owned 484,309 shares in the company, valued at $18,229,390.76. This trade represents a 0.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Jonathan Scott sold 8,071 shares of First Interstate BancSystem stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $37.29, for a total value of $300,967.59. Following the completion of the transaction, the insider owned 817,738 shares of the company’s stock, valued at approximately $30,493,450.02. This represents a 0.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 27,700 shares of company stock worth $1,029,476 over the last 90 days. Insiders own 8.00% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Institutional investors and hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new position in shares of First Interstate BancSystem during the 2nd quarter worth approximately $26,000. Eurizon Capital SGR S.p.A. acquired a new stake in First Interstate BancSystem in the 4th quarter valued at $25,000. Allworth Financial LP acquired a new stake in First Interstate BancSystem in the 2nd quarter valued at $62,000. Public Employees Retirement System of Ohio purchased a new stake in First Interstate BancSystem in the 2nd quarter worth $65,000. Finally, SJS Investment Consulting Inc. increased its holdings in First Interstate BancSystem by 15,876.9% in the 1st quarter. SJS Investment Consulting Inc. now owns 2,077 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 2,064 shares in the last quarter. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a financial holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides community banking services to individuals, businesses, governmental entities and nonprofit organizations.

Its products and services include personal and business deposit accounts, consumer and commercial lending, mortgage banking, treasury management, online and mobile banking, investment services, and wealth management.