First Interstate BancSystem Inc. (FIBK) Sees Large Volume Increase
First Interstate BancSystem Inc. (NASDAQ:FIBK) saw an uptick in trading volume on Thursday . 82,817 shares traded hands during mid-day trading, an increase of 28% from the previous session’s volume of 64,893 shares.The stock last traded at $30.31 and had previously closed at $30.22.
A number of brokerages have weighed in on FIBK. Zacks Investment Research upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Thursday, June 16th. B. Riley reiterated a “sell” rating on shares of First Interstate BancSystem in a report on Monday, May 2nd. FIG Partners reiterated a “market perform” rating on shares of First Interstate BancSystem in a report on Wednesday, July 27th. Keefe, Bruyette & Woods cut shares of First Interstate BancSystem from an “outperform” rating to a “market perform” rating and set a $30.00 price target on the stock. in a report on Wednesday, April 27th. They noted that the move was a valuation call. Finally, Barclays PLC reiterated a “buy” rating and set a $31.00 price target on shares of First Interstate BancSystem in a report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $30.25.
The company has a market cap of $1.36 billion and a P/E ratio of 15.36. The stock has a 50 day moving average of $29.15 and a 200 day moving average of $28.12.
First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data on Monday, July 25th. The financial services provider reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. On average, equities analysts expect that First Interstate BancSystem Inc. will post $2.12 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Monday, August 1st were paid a dividend of $0.22 per share. This is a boost from First Interstate BancSystem’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $0.88 annualized dividend and a dividend yield of 2.89%.
In other First Interstate BancSystem news, Director Jonathan R. Scott sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $29.20, for a total transaction of $29,200.00. Following the sale, the director now owns 4,958 shares of the company’s stock, valued at approximately $144,773.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jonathan R. Scott sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $29.07, for a total transaction of $116,280.00. Following the sale, the director now directly owns 4,958 shares in the company, valued at approximately $144,129.06. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in First Interstate BancSystem stock. Bank of Montreal Can increased its stake in First Interstate BancSystem Inc. (NASDAQ:FIBK) by 2,876.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,869 shares of the financial services provider’s stock after buying an additional 55,925 shares during the period. Bank of Montreal Can owned about 0.13% of First Interstate BancSystem worth $1,683,000 at the end of the most recent quarter.
First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company operates through community banking segment.
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