First Interstate Bancsystem Inc (NASDAQ:FIBK) Receives $42.30 Consensus Price Target from Analysts

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First Interstate Bancsystem Inc (NASDAQ:FIBK) has earned an average rating of “Buy” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $42.30.

A number of equities analysts recently commented on FIBK shares. BidaskClub upgraded shares of First Interstate Bancsystem from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. ValuEngine upgraded shares of First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded shares of First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th.

In related news, Director Ross E. Leckie sold 1,219 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $39.27, for a total transaction of $47,870.13. Following the completion of the transaction, the director now owns 17,027 shares in the company, valued at $668,650.29. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ross E. Leckie sold 3,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $40.60, for a total transaction of $121,800.00. Following the transaction, the director now owns 14,027 shares of the company’s stock, valued at approximately $569,496.20. The disclosure for this sale can be found here. Insiders own 24.93% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stephens Inc. AR boosted its stake in First Interstate Bancsystem by 6.3% in the second quarter. Stephens Inc. AR now owns 5,471 shares of the financial services provider’s stock valued at $217,000 after acquiring an additional 322 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in First Interstate Bancsystem by 2.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 15,704 shares of the financial services provider’s stock valued at $622,000 after acquiring an additional 360 shares in the last quarter. Stone Ridge Asset Management LLC boosted its stake in First Interstate Bancsystem by 4.9% in the second quarter. Stone Ridge Asset Management LLC now owns 8,529 shares of the financial services provider’s stock valued at $338,000 after acquiring an additional 400 shares in the last quarter. Wrapmanager Inc. boosted its stake in First Interstate Bancsystem by 6.0% in the second quarter. Wrapmanager Inc. now owns 8,817 shares of the financial services provider’s stock valued at $349,000 after acquiring an additional 501 shares in the last quarter. Finally, Allied Investment Advisors LLC boosted its stake in First Interstate Bancsystem by 6.1% in the second quarter. Allied Investment Advisors LLC now owns 9,282 shares of the financial services provider’s stock valued at $368,000 after acquiring an additional 530 shares in the last quarter. Institutional investors own 49.10% of the company’s stock.

Shares of First Interstate Bancsystem stock traded up $0.96 on Friday, hitting $42.92. 184,100 shares of the company were exchanged, compared to its average volume of 202,637. First Interstate Bancsystem has a 1-year low of $34.61 and a 1-year high of $43.97. The company has a 50-day moving average price of $41.01 and a 200 day moving average price of $39.80. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 1.70 and a beta of 1.18.

First Interstate Bancsystem (NASDAQ:FIBK) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03). The firm had revenue of $166.30 million for the quarter, compared to analyst estimates of $167.38 million. First Interstate Bancsystem had a return on equity of 10.48% and a net margin of 24.08%. Research analysts forecast that First Interstate Bancsystem will post 3.09 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Saturday, November 9th will be paid a dividend of $0.31 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.89%. This is an increase from First Interstate Bancsystem’s previous quarterly dividend of $0.20. First Interstate Bancsystem’s payout ratio is presently 42.47%.

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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