First Interstate BancSystem (NASDAQ:FIBK) Sets New 12-Month High – What’s Next?

First Interstate BancSystem, Inc. (NASDAQ:FIBK)’s stock price reached a new 52-week high on Friday . The stock traded as high as $39.17 and last traded at $38.8810, with a volume of 165987 shares changing hands. The stock had previously closed at $38.00.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods upped their target price on First Interstate BancSystem from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Interstate BancSystem in a research report on Monday, December 29th. Barclays reduced their target price on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Friday, January 30th. DA Davidson restated a “buy” rating and set a $42.00 price target on shares of First Interstate BancSystem in a research note on Thursday, January 29th. Finally, Wall Street Zen lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.17.

First Interstate BancSystem Trading Up 2.4%

The stock has a market cap of $4.00 billion, a P/E ratio of 13.17 and a beta of 0.80. The business’s 50 day simple moving average is $35.88 and its 200 day simple moving average is $32.94. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.73 and a quick ratio of 0.72.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.64 by $0.44. First Interstate BancSystem had a return on equity of 8.83% and a net margin of 17.62%.The business had revenue of $205.10 million for the quarter, compared to analyst estimates of $256.89 million. During the same quarter in the previous year, the firm earned $0.50 EPS. First Interstate BancSystem’s quarterly revenue was up 19.8% on a year-over-year basis. On average, analysts expect that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Tuesday, February 10th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, February 10th. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 63.73%.

Insider Transactions at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Susan Scott Heyneman Trust, Su sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $32.75, for a total value of $327,500.00. Following the completion of the sale, the insider owned 224,460 shares in the company, valued at approximately $7,351,065. This trade represents a 4.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John M. Heyneman, Jr. sold 30,432 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $31.03, for a total transaction of $944,304.96. Following the sale, the director directly owned 1,414,636 shares in the company, valued at $43,896,155.08. This trade represents a 2.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 45,432 shares of company stock worth $1,454,120. Insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On First Interstate BancSystem

Several large investors have recently made changes to their positions in the company. First Horizon Corp bought a new stake in First Interstate BancSystem during the 3rd quarter worth about $26,000. EverSource Wealth Advisors LLC raised its position in shares of First Interstate BancSystem by 139.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 862 shares during the period. Jones Financial Companies Lllp raised its holdings in First Interstate BancSystem by 1,485.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,601 shares of the financial services provider’s stock worth $52,000 after buying an additional 1,500 shares during the period. CIBC Private Wealth Group LLC bought a new position in First Interstate BancSystem in the third quarter valued at approximately $52,000. Finally, GAMMA Investing LLC increased its position in shares of First Interstate BancSystem by 49.6% during the fourth quarter. GAMMA Investing LLC now owns 1,556 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 516 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.