First Interstate BancSystem, Inc. (NASDAQ:FIBK) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have earned an average rating of “Moderate Buy” from the four brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $29.00.

A number of equities research analysts have recently issued reports on FIBK shares. Wells Fargo & Company boosted their price objective on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Stephens reiterated an “overweight” rating and set a $32.00 price objective on shares of First Interstate BancSystem in a research note on Thursday. Barclays assumed coverage on shares of First Interstate BancSystem in a research note on Friday, March 8th. They set an “equal weight” rating and a $28.00 target price on the stock. Finally, TheStreet cut shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a research note on Monday, March 18th.

Insider Activity at First Interstate BancSystem

In related news, EVP Karlyn M. Knieriem sold 2,900 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $26.76, for a total value of $77,604.00. Following the sale, the executive vice president now directly owns 20,599 shares in the company, valued at $551,229.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other First Interstate BancSystem news, EVP Kristina Robbins sold 2,710 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $25.83, for a total transaction of $69,999.30. Following the sale, the executive vice president now directly owns 9,047 shares in the company, valued at $233,684.01. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Karlyn M. Knieriem sold 2,900 shares of First Interstate BancSystem stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $26.76, for a total value of $77,604.00. Following the completion of the transaction, the executive vice president now owns 20,599 shares of the company’s stock, valued at approximately $551,229.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,531 shares of company stock valued at $197,645. Corporate insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FIBK. Global Retirement Partners LLC boosted its stake in shares of First Interstate BancSystem by 132.8% during the 4th quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 530 shares during the period. Wolverine Asset Management LLC bought a new stake in First Interstate BancSystem in the fourth quarter worth about $39,000. Parallel Advisors LLC boosted its position in shares of First Interstate BancSystem by 205.3% during the fourth quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock valued at $39,000 after buying an additional 856 shares during the period. CWM LLC grew its stake in shares of First Interstate BancSystem by 42.1% during the fourth quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock valued at $73,000 after buying an additional 702 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of First Interstate BancSystem in the third quarter worth approximately $81,000. 88.71% of the stock is owned by hedge funds and other institutional investors.

First Interstate BancSystem Stock Performance

Shares of FIBK stock traded up $0.38 on Thursday, reaching $26.95. The stock had a trading volume of 1,300,799 shares, compared to its average volume of 834,619. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.76 and a current ratio of 0.77. First Interstate BancSystem has a 1 year low of $20.81 and a 1 year high of $32.54. The stock has a market cap of $2.80 billion, a P/E ratio of 10.87 and a beta of 0.87. The company has a 50 day simple moving average of $26.08 and a 200 day simple moving average of $26.66.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $252.30 million for the quarter, compared to the consensus estimate of $254.50 million. First Interstate BancSystem had a return on equity of 8.47% and a net margin of 18.04%. Equities research analysts expect that First Interstate BancSystem will post 2.17 EPS for the current year.

First Interstate BancSystem Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 19th. Stockholders of record on Friday, February 9th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 6.98%. The ex-dividend date was Thursday, February 8th. This is an increase from First Interstate BancSystem’s previous quarterly dividend of $0.20. First Interstate BancSystem’s payout ratio is 75.81%.

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. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.