Analysts Set First Interstate BancSystem, Inc. (NASDAQ:FIBK) PT at $38.17

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has been given a consensus rating of “Hold” by the eight brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $38.1667.

FIBK has been the topic of a number of recent research reports. UBS Group restated a “neutral” rating and issued a $38.00 price target on shares of First Interstate BancSystem in a research report on Wednesday, February 4th. Barclays dropped their price objective on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Interstate BancSystem in a report on Monday, December 29th. Keefe, Bruyette & Woods increased their price target 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. Finally, Piper Sandler boosted their price objective on First Interstate BancSystem from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd.

First Interstate BancSystem Price Performance

Shares of FIBK opened at $34.73 on Friday. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 11.77 and a beta of 0.77. The stock has a 50 day moving average of $36.70 and a 200-day moving average of $33.92. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.09. First Interstate BancSystem has a 52 week low of $22.95 and a 52 week high of $39.26.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.44. The business had revenue of $205.10 million for the quarter, compared to analyst estimates of $256.89 million. First Interstate BancSystem had a return on equity of 8.83% and a net margin of 21.40%.The business’s revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.50 EPS. As a group, analysts forecast that First Interstate BancSystem will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Tuesday, February 10th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $1.88 annualized dividend and a dividend yield of 5.4%. First Interstate BancSystem’s payout ratio is 63.73%.

Insider Activity at First Interstate BancSystem

In related news, major shareholder Jonathan R. Scott sold 3,173 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $36.20, for a total value of $114,862.60. Following the sale, the insider owned 937,851 shares of the company’s stock, valued at $33,950,206.20. This trade represents a 0.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Capstone Wealth Management Inc. bought a new stake in shares of First Interstate BancSystem during the fourth quarter valued at approximately $776,000. Invesco Ltd. increased its position in First Interstate BancSystem by 21.7% in the 4th quarter. Invesco Ltd. now owns 370,064 shares of the financial services provider’s stock valued at $12,804,000 after acquiring an additional 66,038 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in First Interstate BancSystem by 32.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 19,865 shares of the financial services provider’s stock valued at $687,000 after acquiring an additional 4,829 shares in the last quarter. State of Tennessee Department of Treasury bought a new stake in First Interstate BancSystem during the 4th quarter valued at $705,000. Finally, XTX Topco Ltd acquired a new position in First Interstate BancSystem during the 4th quarter worth $1,664,000. Institutional investors 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.