First Interstate BancSystem (NASDAQ:FIBK) Coverage Initiated by Analysts at UBS Group

UBS Group began coverage on shares of First Interstate BancSystem (NASDAQ:FIBK) in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm issued a neutral rating and a $35.00 price target on the financial services provider’s stock.

Several other research analysts have also weighed in on FIBK. DA Davidson raised First Interstate BancSystem from a “neutral” rating to a “buy” rating and raised their target price for the stock from $32.00 to $42.00 in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their price objective on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Barclays upped their target price on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. Piper Sandler reduced their price target on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Finally, Stephens reaffirmed an “overweight” rating and set a $36.00 price objective on shares of First Interstate BancSystem in a research report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, First Interstate BancSystem has a consensus rating of “Hold” and a consensus price target of $35.14.

First Interstate BancSystem Trading Down 1.0 %

Shares of FIBK stock opened at $31.52 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem has a twelve month low of $24.16 and a twelve month high of $36.77. The company’s 50-day moving average price is $33.05 and its 200-day moving average price is $30.42. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 13.82 and a beta of 0.84.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same quarter in the previous year, the company earned $0.70 EPS. As a group, equities analysts predict that First Interstate BancSystem will post 2.28 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a $0.47 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.88 annualized dividend and a yield of 5.96%. First Interstate BancSystem’s dividend payout ratio is presently 82.46%.

Insider Transactions at First Interstate BancSystem

In other news, major shareholder Julie A. Scott sold 22,050 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $33.80, for a total transaction of $745,290.00. Following the completion of the transaction, the insider now directly owns 613,019 shares of the company’s stock, valued at approximately $20,720,042.20. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jonathan R. Scott sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total transaction of $222,170.00. Following the completion of the sale, the director now directly owns 958,710 shares in the company, valued at approximately $32,768,707.80. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,837 shares of company stock valued at $1,839,583. 6.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Interstate BancSystem

Large investors have recently bought and sold shares of the business. Point72 DIFC Ltd acquired a new position in shares of First Interstate BancSystem during the 3rd quarter worth about $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in First Interstate BancSystem in the third quarter valued at approximately $69,000. Innealta Capital LLC purchased a new position in First Interstate BancSystem in the second quarter valued at approximately $106,000. nVerses Capital LLC raised its holdings in First Interstate BancSystem by 412.5% during the second quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 3,300 shares in the last quarter. Finally, CWM LLC lifted its position in shares of First Interstate BancSystem by 65.0% during the 3rd quarter. CWM LLC now owns 5,152 shares of the financial services provider’s stock worth $158,000 after buying an additional 2,029 shares during the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Company Profile

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.