First Interstate BancSystem (NASDAQ:FIBK) Sets New 1-Year High – What’s Next?

First Interstate BancSystem, Inc. (NASDAQ:FIBK) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $38.18 and last traded at $37.9420, with a volume of 1054234 shares trading hands. The stock had previously closed at $36.11.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. Keefe, Bruyette & Woods lifted their target price on shares of First Interstate BancSystem from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Wall Street Zen downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Weiss Ratings restated a “hold (c+)” rating on shares of First Interstate BancSystem in a research report on Monday, December 29th. Finally, UBS Group reaffirmed a “neutral” rating and set a $37.00 price objective on shares of First Interstate BancSystem in a research note on Tuesday, January 6th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, First Interstate BancSystem currently has an average rating of “Hold” and an average price target of $37.29.

First Interstate BancSystem Trading Up 5.4%

The company has a quick ratio of 0.73, a current ratio of 0.74 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $3.91 billion, a P/E ratio of 16.05 and a beta of 0.80. The business has a fifty day moving average price of $34.54 and a 200 day moving average price of $32.43.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter. The business had revenue of $250.50 million during the quarter. First Interstate BancSystem had a return on equity of 7.25% and a net margin of 17.62%. On average, analysts expect that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were issued a $0.47 dividend. The ex-dividend date was Monday, November 10th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.9%. First Interstate BancSystem’s dividend payout ratio (DPR) is 79.32%.

Insider Buying and Selling

In related news, Director John M. Heyneman, Jr. sold 30,432 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $31.03, for a total value of $944,304.96. Following the completion of the transaction, the director owned 1,414,636 shares of the company’s stock, valued at approximately $43,896,155.08. This trade represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Jonathan R. Scott sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $32.09, for a total value of $224,630.00. Following the completion of the transaction, the insider owned 945,824 shares of the company’s stock, valued at $30,351,492.16. The trade was a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 67,232 shares of company stock worth $2,138,746. 8.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its holdings in shares of First Interstate BancSystem by 37.2% in the 1st quarter. AQR Capital Management LLC now owns 67,214 shares of the financial services provider’s stock valued at $1,926,000 after buying an additional 18,210 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in First Interstate BancSystem by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,230 shares of the financial services provider’s stock worth $1,353,000 after acquiring an additional 2,070 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in First Interstate BancSystem in the first quarter valued at $238,000. Jones Financial Companies Lllp grew its position in shares of First Interstate BancSystem by 24,352.5% in the 1st quarter. Jones Financial Companies Lllp now owns 24,697 shares of the financial services provider’s stock valued at $708,000 after acquiring an additional 24,596 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of First Interstate BancSystem during the 1st quarter worth about $5,125,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

About First Interstate BancSystem

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.