Brokerages Set First Interstate BancSystem, Inc. (NASDAQ:FIBK) Price Target at $29.00

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have been given an average recommendation of “Hold” by the five brokerages that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $30.20.

A number of analysts recently weighed in on FIBK shares. Keefe, Bruyette & Woods boosted their target price on First Interstate BancSystem from $28.00 to $29.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. TheStreet downgraded First Interstate BancSystem from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. Barclays boosted their price objective on First Interstate BancSystem from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Piper Sandler boosted their price objective on First Interstate BancSystem from $32.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Stephens reiterated an “overweight” rating and issued a $32.00 price objective on shares of First Interstate BancSystem in a research report on Thursday, April 25th.

Insider Buying and Selling

In related news, EVP Karlyn M. Knieriem sold 2,900 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $26.76, for a total value of $77,604.00. Following the sale, the executive vice president now directly owns 20,599 shares of the company’s stock, valued at $551,229.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Karlyn M. Knieriem sold 2,900 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $26.76, for a total value of $77,604.00. Following the sale, the executive vice president now directly owns 20,599 shares of the company’s stock, valued at $551,229.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kristina Robbins sold 2,710 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was 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 directly owns 9,047 shares in the company, valued at $233,684.01. The disclosure for this sale can be found here. Insiders have sold a total of 7,531 shares of company stock valued at $197,645 over the last ninety days. Company insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Global Retirement Partners LLC lifted its holdings in shares of First Interstate BancSystem by 132.8% during the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 530 shares in the last quarter. Wolverine Asset Management LLC bought a new position in First Interstate BancSystem in the fourth quarter valued at about $39,000. Parallel Advisors LLC lifted its holdings in First Interstate BancSystem by 205.3% in the fourth quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 856 shares during the period. CWM LLC lifted its holdings in First Interstate BancSystem by 42.1% in the fourth quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 702 shares during the period. Finally, Headlands Technologies LLC bought a new position in First Interstate BancSystem in the third quarter valued at about $81,000. 88.71% of the stock is owned by institutional investors.

First Interstate BancSystem Stock Performance

NASDAQ:FIBK opened at $27.46 on Thursday. The business’s 50-day moving average price is $26.15 and its two-hundred day moving average price is $26.76. First Interstate BancSystem has a twelve month low of $20.81 and a twelve month high of $32.54. The stock has a market cap of $2.85 billion, a P/E ratio of 10.94 and a beta of 0.87. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.89.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $252.30 million during the quarter, compared to the consensus estimate of $254.50 million. First Interstate BancSystem had a return on equity of 8.55% and a net margin of 18.04%. As a group, equities analysts predict that First Interstate BancSystem will post 2.18 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.88 annualized dividend and a yield of 6.85%. First Interstate BancSystem’s payout ratio is 74.90%.

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.