First Interstate BancSystem, Inc. (FIBK) Receives Consensus Rating of “Hold” from Analysts
First Interstate BancSystem, Inc. (NASDAQ:FIBK) has received an average recommendation of “Hold” from the seven research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $43.25.
Several research analysts have recently commented on FIBK shares. Barclays PLC set a $43.00 target price on First Interstate BancSystem and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Zacks Investment Research upgraded First Interstate BancSystem from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Wednesday, November 1st. Finally, ValuEngine downgraded First Interstate BancSystem from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th.
Shares of First Interstate BancSystem (NASDAQ FIBK) traded down $0.35 during midday trading on Friday, hitting $37.75. The stock had a trading volume of 72,621 shares, compared to its average volume of 153,926. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.79 and a quick ratio of 0.79. First Interstate BancSystem has a one year low of $33.33 and a one year high of $45.35. The company has a market cap of $2,131.18, a P/E ratio of 16.34, a P/E/G ratio of 1.78 and a beta of 1.19.
The company also recently declared a quarterly dividend, which was paid on Monday, November 13th. Investors of record on Tuesday, October 31st were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, October 30th. This represents a $0.96 annualized dividend and a yield of 2.54%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 48.24%.
In related news, Director Jonathan R. Scott sold 25,000 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $36.81, for a total value of $920,250.00. Following the completion of the sale, the director now directly owns 5,556 shares in the company, valued at approximately $204,516.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ross E. Leckie sold 1,500 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $38.85, for a total value of $58,275.00. Following the completion of the sale, the director now owns 23,028 shares of the company’s stock, valued at $894,637.80. The disclosure for this sale can be found here. Insiders sold a total of 77,357 shares of company stock valued at $2,885,627 over the last 90 days. 38.22% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIBK. California Public Employees Retirement System boosted its stake in First Interstate BancSystem by 20.8% in the 1st quarter. California Public Employees Retirement System now owns 27,900 shares of the financial services provider’s stock valued at $1,106,000 after purchasing an additional 4,800 shares during the period. Vanguard Group Inc. boosted its stake in First Interstate BancSystem by 44.7% in the 1st quarter. Vanguard Group Inc. now owns 1,795,049 shares of the financial services provider’s stock valued at $71,175,000 after purchasing an additional 554,418 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in First Interstate BancSystem by 7.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 120,056 shares of the financial services provider’s stock valued at $4,761,000 after purchasing an additional 8,422 shares during the period. State Street Corp boosted its stake in First Interstate BancSystem by 66.0% in the 1st quarter. State Street Corp now owns 769,627 shares of the financial services provider’s stock valued at $30,523,000 after purchasing an additional 305,988 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in First Interstate BancSystem by 38.3% in the 2nd quarter. Great West Life Assurance Co. Can now owns 4,611 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 1,278 shares during the period. Institutional investors and hedge funds own 46.41% of the company’s stock.
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First Interstate BancSystem Company Profile
First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.
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