First Interstate BancSystem (NASDAQ:FIBK) Price Target Increased to $29.00 by Analysts at Keefe, Bruyette & Woods

First Interstate BancSystem (NASDAQ:FIBK) had its price target boosted by Keefe, Bruyette & Woods from $28.00 to $29.00 in a report released on Friday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

FIBK has been the topic of several other reports. Stephens reissued an overweight rating and issued a $32.00 target price on shares of First Interstate BancSystem in a research report on Thursday. Wells Fargo & Company raised their target price on First Interstate BancSystem from $23.00 to $24.00 and gave the stock an equal weight rating in a research report on Wednesday, April 10th. Barclays assumed coverage on First Interstate BancSystem in a research note on Friday, March 8th. They issued an equal weight rating and a $28.00 price objective on the stock. Finally, TheStreet downgraded First Interstate BancSystem from a b- rating to a c+ rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $29.20.

First Interstate BancSystem Trading Up 0.2 %

Shares of NASDAQ:FIBK opened at $27.00 on Friday. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 10.76 and a beta of 0.87. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.76 and a current ratio of 0.77. The stock’s 50-day simple moving average is $26.10 and its two-hundred day simple moving average is $26.68. First Interstate BancSystem has a 52-week low of $20.81 and a 52-week high of $32.54.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. The business had revenue of $252.30 million for the quarter, compared to analysts’ expectations of $254.50 million. First Interstate BancSystem had a return on equity of 8.55% and a net margin of 18.04%. Analysts expect that First Interstate BancSystem will post 2.17 EPS for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 6.96%. The ex-dividend date of this dividend is Friday, May 3rd. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 74.90%.

Insider Activity at First Interstate BancSystem

In related news, EVP Kristina Robbins sold 2,710 shares of First Interstate BancSystem 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 owns 9,047 shares of the company’s stock, valued at approximately $233,684.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Kristina Robbins sold 2,710 shares of First Interstate BancSystem 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 owns 9,047 shares of the company’s stock, valued at approximately $233,684.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lorrie F. Asker sold 1,921 shares of First Interstate BancSystem stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total value of $50,042.05. Following the sale, the insider now directly owns 6,909 shares in the company, valued at approximately $179,979.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,531 shares of company stock valued at $197,645. 6.90% of the stock is owned by company insiders.

Institutional Trading of First Interstate BancSystem

Large investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its stake in First Interstate BancSystem by 132.8% in the 4th quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 530 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in shares of First Interstate BancSystem in the 4th quarter worth approximately $39,000. Parallel Advisors LLC boosted its holdings in shares of First Interstate BancSystem by 205.3% in the 4th quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 856 shares during the period. CWM LLC boosted its holdings in shares of First Interstate BancSystem by 42.1% in the 4th quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 702 shares during the period. Finally, Headlands Technologies LLC purchased a new position in shares of First Interstate BancSystem in the 3rd quarter worth approximately $81,000. Institutional investors own 88.71% 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. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.