First Interstate Bancsystem Inc (NASDAQ:FIBK) has received an average rating of “Hold” from the nine research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $46.78.
A number of equities research analysts have issued reports on FIBK shares. Zacks Investment Research lowered First Interstate Bancsystem from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. BidaskClub lowered First Interstate Bancsystem from a “hold” rating to a “sell” rating in a research report on Thursday, January 24th. Finally, Stephens began coverage on First Interstate Bancsystem in a research report on Monday, January 14th. They set an “overweight” rating and a $37.90 price objective for the company.
Shares of FIBK stock opened at $42.13 on Tuesday. First Interstate Bancsystem has a 52-week low of $34.61 and a 52-week high of $47.05. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 1.50 and a beta of 1.12.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 21st. Stockholders of record on Monday, February 11th were given a dividend of $0.31 per share. This is a positive change from First Interstate Bancsystem’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, February 8th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.94%. First Interstate Bancsystem’s dividend payout ratio (DPR) is presently 42.47%.
In other news, Director John M. Heyneman, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Sunday, November 25th. The stock was sold at an average price of $37.35, for a total transaction of $74,700.00. Following the completion of the transaction, the director now owns 3,621 shares in the company, valued at $135,244.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John M. Heyneman, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $41.87, for a total value of $41,870.00. Following the transaction, the director now owns 3,621 shares of the company’s stock, valued at approximately $151,611.27. The disclosure for this sale can be found here. Company insiders own 40.23% of the company’s stock.
Institutional investors have recently modified their holdings of the company. California Public Employees Retirement System grew its position in First Interstate Bancsystem by 89.3% in the second quarter. California Public Employees Retirement System now owns 75,858 shares of the financial services provider’s stock worth $3,201,000 after acquiring an additional 35,780 shares in the last quarter. Advisors Asset Management Inc. grew its position in First Interstate Bancsystem by 29.4% in the second quarter. Advisors Asset Management Inc. now owns 32,487 shares of the financial services provider’s stock worth $1,371,000 after acquiring an additional 7,384 shares in the last quarter. Bank of New York Mellon Corp grew its position in First Interstate Bancsystem by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 2,525,997 shares of the financial services provider’s stock worth $106,597,000 after acquiring an additional 87,106 shares in the last quarter. Northern Trust Corp grew its position in First Interstate Bancsystem by 15.4% in the second quarter. Northern Trust Corp now owns 491,137 shares of the financial services provider’s stock worth $20,727,000 after acquiring an additional 65,493 shares in the last quarter. Finally, First Trust Advisors LP grew its position in First Interstate Bancsystem by 3.9% in the third quarter. First Trust Advisors LP now owns 143,703 shares of the financial services provider’s stock worth $6,438,000 after acquiring an additional 5,375 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.
About First Interstate Bancsystem
First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.
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