First Interstate BancSystem, Inc. (NASDAQ:FIBK) Stock Has Average Target Price of $37.14 According to Analysts

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has been given a consensus rating of “Reduce” by the nine analysts that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $37.43.

FIBK has been the subject of several recent analyst reports. Benchmark upgraded shares of First Interstate BancSystem to a “hold” rating in a research note on Wednesday, September 23rd. Stephens upped their target price on shares of First Interstate BancSystem from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 29th. Wall Street Zen cut shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Saturday, October 24th. DA Davidson reaffirmed a “neutral” rating and issued a $39.00 target price on shares of First Interstate BancSystem in a report on Monday, July 27th. Finally, Barclays lifted their price target on shares of First Interstate BancSystem from $37.00 to $38.00 and gave the company an “underweight” rating in a research report on Monday, October 5th.

Insider Activity at First Interstate BancSystem

In related news, major shareholder Jonathan Scott sold 16,929 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $37.03, for a total value of $626,880.87. Following the completion of the transaction, the insider directly owned 825,809 shares of the company’s stock, valued at $30,579,707.27. This trade represents a 2.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Julie A. Scott sold 2,700 shares of First Interstate BancSystem stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $37.64, for a total value of $101,628.00. Following the transaction, the insider directly owned 484,309 shares of the company’s stock, valued at approximately $18,229,390.76. This represents a 0.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 50,858 shares of company stock valued at $1,905,587 in the last ninety days. Corporate insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC purchased a new stake in shares of First Interstate BancSystem in the 4th quarter worth about $2,127,000. The Manufacturers Life Insurance Company acquired a new stake in First Interstate BancSystem in the 2nd quarter valued at about $1,776,000. Rice Hall James & Associates LLC acquired a new stake in First Interstate BancSystem in the 2nd quarter valued at about $3,853,000. BlackRock Inc. acquired a new stake in First Interstate BancSystem in the 2nd quarter valued at about $529,533,000. Finally, Bank of America Corp DE purchased a new position in First Interstate BancSystem during the 2nd quarter valued at about $56,386,000. Hedge funds and other institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Price Performance

Shares of NASDAQ FIBK opened at $37.67 on Friday. The firm has a market capitalization of $3.49 billion, a P/E ratio of 11.78 and a beta of 0.73. First Interstate BancSystem has a one year low of $29.39 and a one year high of $40.60. The company’s fifty day moving average is $36.65 and its two-hundred day moving average is $36.34. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.68 and a current ratio of 0.68.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.03). The company had revenue of $43.30 million for the quarter, compared to analyst estimates of $247.93 million. First Interstate BancSystem had a return on equity of 9.49% and a net margin of 23.30%. Analysts forecast that First Interstate BancSystem will post 2.79 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, November 3rd will be issued a $0.47 dividend. The ex-dividend date is Tuesday, November 3rd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.0%. First Interstate BancSystem’s dividend payout ratio is currently 58.57%.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc. is a financial holding company whose principal subsidiary is First Interstate Bank. The bank provides personal, business and agricultural banking services, including deposit accounts, loans, mortgage lending and treasury management. Its other offerings include wealth management, trust and investment services, and insurance. The company serves individuals, businesses and communities across a multistate footprint in the western and north-central United States. Established in Montana in 1968, First Interstate BancSystem has grown through the development of its banking operations and acquisitions.