First Interstate BancSystem (NASDAQ:FIBK) Upgraded at StockNews.com

StockNews.com upgraded shares of First Interstate BancSystem (NASDAQ:FIBK) from a sell rating to a hold rating in a research report report published on Monday.

FIBK has been the topic of a number of other reports. Wells Fargo & Company raised their price target on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, February 3rd. Piper Sandler lowered their price target on shares of First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Stephens lowered their price target on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. DA Davidson reaffirmed a “buy” rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods increased 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 research report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, First Interstate BancSystem currently has an average rating of “Hold” and a consensus target price of $36.14.

First Interstate BancSystem Stock Down 0.7 %

Shares of First Interstate BancSystem stock opened at $28.87 on Monday. First Interstate BancSystem has a 1 year low of $24.16 and a 1 year high of $36.77. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 13.18 and a beta of 0.85. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The firm’s 50-day moving average is $32.04 and its two-hundred day moving average is $31.88.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. As a group, research analysts expect that First Interstate BancSystem will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 6.51%. The ex-dividend date was Monday, February 10th. First Interstate BancSystem’s payout ratio is currently 85.84%.

Insiders Place Their Bets

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $32.56, for a total transaction of $43,467.60. Following the completion of the transaction, the director now directly owns 1,414,886 shares of the company’s stock, valued at approximately $46,068,688.16. This trade represents a 0.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 6.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Interstate BancSystem

A number of institutional investors have recently bought and sold shares of the business. GTS Securities LLC purchased a new position in First Interstate BancSystem during the 4th quarter worth approximately $203,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of First Interstate BancSystem by 2.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,294 shares of the financial services provider’s stock valued at $8,549,000 after purchasing an additional 7,328 shares in the last quarter. WBI Investments LLC increased its holdings in shares of First Interstate BancSystem by 39.0% during the 4th quarter. WBI Investments LLC now owns 11,645 shares of the financial services provider’s stock valued at $378,000 after purchasing an additional 3,269 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of First Interstate BancSystem by 13.6% during the 4th quarter. Two Sigma Advisers LP now owns 32,548 shares of the financial services provider’s stock valued at $1,057,000 after purchasing an additional 3,900 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of First Interstate BancSystem during the 4th quarter valued at approximately $360,000. 88.71% of the stock is owned by hedge funds and other institutional investors.

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.