First Interstate BancSystem (NASDAQ:FIBK) Given New $29.00 Price Target at Barclays

First Interstate BancSystem (NASDAQ:FIBK) had its price target hoisted by Barclays from $28.00 to $29.00 in a research report report published on Friday, Benzinga reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company lifted their price target on First Interstate BancSystem from $23.00 to $24.00 and gave the stock an equal weight rating in a research note on Wednesday, April 10th. TheStreet downgraded First Interstate BancSystem from a b- rating to a c+ rating in a research note on Monday, March 18th. Stephens reaffirmed an overweight rating and set a $32.00 price target on shares of First Interstate BancSystem in a research note on Thursday. Finally, Keefe, Bruyette & Woods lifted their price target on First Interstate BancSystem from $28.00 to $29.00 and gave the stock a market perform rating in a research note on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $29.20.

First Interstate BancSystem Price Performance

First Interstate BancSystem stock opened at $27.00 on Friday. First Interstate BancSystem has a one year low of $20.81 and a one year high of $32.54. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.76 and a current ratio of 0.77. The business has a fifty day moving average of $26.10 and a two-hundred day moving average of $26.68. The company has a market cap of $2.81 billion, a P/E ratio of 10.76 and a beta of 0.87.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Tuesday, January 30th. The financial services provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. First Interstate BancSystem had a return on equity of 8.55% and a net margin of 18.04%. The company had revenue of $252.30 million during the quarter, compared to the consensus estimate of $254.50 million. As a group, analysts predict that First Interstate BancSystem will post 2.17 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 6.96%. The ex-dividend date of this dividend is Friday, May 3rd. First Interstate BancSystem’s payout ratio is 74.90%.

Insider Activity at First Interstate BancSystem

In related news, EVP Kristina Robbins sold 2,710 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total value of $69,999.30. Following the completion of the transaction, the executive vice president now owns 9,047 shares of the company’s stock, valued at approximately $233,684.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other First Interstate BancSystem news, EVP Karlyn M. Knieriem sold 2,900 shares of First Interstate BancSystem stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $26.76, for a total value of $77,604.00. Following the completion of the sale, the executive vice president now owns 20,599 shares in the company, valued at approximately $551,229.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kristina Robbins sold 2,710 shares of First Interstate BancSystem stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total value of $69,999.30. Following the completion of the sale, the executive vice president now owns 9,047 shares of the company’s stock, valued at approximately $233,684.01. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,531 shares of company stock valued at $197,645. 6.90% of the stock is owned by insiders.

Institutional Trading of First Interstate BancSystem

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC grew its holdings in First Interstate BancSystem by 132.8% in the 4th quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock valued at $26,000 after buying an additional 530 shares during the period. Wolverine Asset Management LLC purchased a new stake in shares of First Interstate BancSystem during the 4th quarter worth about $39,000. Parallel Advisors LLC grew its holdings in shares of First Interstate BancSystem by 205.3% during the 4th quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 856 shares during the period. CWM LLC grew its holdings in shares of First Interstate BancSystem by 42.1% during the 4th quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 702 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of First Interstate BancSystem during the 3rd quarter worth about $81,000. Hedge funds and other 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.