First Interstate BancSystem, Inc. (NASDAQ:FIBK) Stock Has Consensus Target Price of $37.00 According to Analysts

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has been given a consensus recommendation of “Reduce” by the nine analysts that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $37.00.

Several research firms have recently weighed in on FIBK. Wall Street Zen raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. Barclays boosted their price objective on First Interstate BancSystem from $37.00 to $38.00 and gave the stock an “underweight” rating in a report on Monday, October 5th. Benchmark upgraded shares of First Interstate BancSystem to a “hold” rating in a report on Wednesday, September 23rd. DA Davidson restated a “neutral” rating and issued a $39.00 price target on shares of First Interstate BancSystem in a research report on Monday, July 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of First Interstate BancSystem in a research report on Monday, September 28th.

Insider Activity at First Interstate BancSystem

In related news, major shareholder Julie A. Scott sold 2,700 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider owned 484,309 shares of the company’s stock, valued at approximately $18,229,390.76. The trade was a 0.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Jonathan R. Scott sold 8,071 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $37.29, for a total value of $300,967.59. Following the completion of the transaction, the insider owned 817,738 shares in the company, valued at $30,493,450.02. This represents a 0.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 27,700 shares of company stock valued at $1,029,476. 8.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On First Interstate BancSystem

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in First Interstate BancSystem during the second quarter valued at about $529,533,000. Bank of America Corp DE acquired a new position in First Interstate BancSystem during the 2nd quarter valued at $56,386,000. Bank of New York Mellon Corp acquired a new stake in First Interstate BancSystem during the second quarter worth about $38,663,000. First Trust Advisors LP increased its stake in First Interstate BancSystem by 214.9% in the first quarter. First Trust Advisors LP now owns 1,197,557 shares of the financial services provider’s stock valued at $39,998,000 after acquiring an additional 817,235 shares during the period. Finally, Punch & Associates Investment Management Inc. acquired a new stake in shares of First Interstate BancSystem during the 2nd quarter worth about $30,000,000. 88.71% of the stock is currently owned by institutional investors.

First Interstate BancSystem Price Performance

FIBK opened at $34.82 on Monday. First Interstate BancSystem has a one year low of $29.39 and a one year high of $40.60. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.69 and a current ratio of 0.69. The stock’s fifty day moving average is $36.74 and its 200-day moving average is $36.49. The company has a market capitalization of $3.32 billion, a PE ratio of 10.71 and a beta of 0.73.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.18. First Interstate BancSystem had a return on equity of 9.55% and a net margin of 23.63%. The business had revenue of $263.90 million during the quarter, compared to analysts’ expectations of $249.32 million. During the same quarter last year, the business posted $0.69 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities analysts predict that First Interstate BancSystem will post 2.88 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Tuesday, August 4th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend was Tuesday, August 4th. First Interstate BancSystem’s dividend payout ratio is 57.85%.

About First Interstate BancSystem

First Interstate BancSystem, Inc is a financial holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company operates as a community-focused regional bank serving individuals, businesses, agricultural customers and public-sector organizations.

First Interstate Bank offers a range of banking products and services, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial and agricultural lending, treasury management, online and mobile banking, and credit cards.