First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives $38.17 Consensus Target Price from Analysts

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have been assigned an average recommendation of “Hold” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $39.1667.

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings lowered shares of First Interstate BancSystem from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, March 18th. Keefe, Bruyette & Woods increased their target price on shares of First Interstate BancSystem from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Piper Sandler raised their target price on shares of First Interstate BancSystem from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Finally, DA Davidson reiterated a “buy” rating and issued a $42.00 price target on shares of First Interstate BancSystem in a research note on Thursday, January 29th.

First Interstate BancSystem Stock Up 0.4%

FIBK stock opened at $33.55 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $3.39 billion, a P/E ratio of 11.37 and a beta of 0.77. The business has a 50-day moving average of $35.49 and a 200-day moving average of $34.12. First Interstate BancSystem has a fifty-two week low of $22.95 and a fifty-two week high of $39.26.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Wednesday, January 28th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.44. The business had revenue of $205.10 million for the quarter, compared to analyst estimates of $256.89 million. First Interstate BancSystem had a return on equity of 8.83% and a net margin of 21.40%.First Interstate BancSystem’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 EPS. On average, sell-side analysts anticipate 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 Friday, February 20th. Stockholders of record on Tuesday, February 10th were issued a $0.47 dividend. The ex-dividend date was Tuesday, February 10th. This represents a $1.88 annualized dividend and a dividend yield of 5.6%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 63.73%.

Insider Activity

In related news, major shareholder Jonathan R. Scott sold 1,827 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $36.92, for a total transaction of $67,452.84. Following the sale, the insider owned 936,024 shares in the company, valued at approximately $34,558,006.08. This represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FIBK. Dimensional Fund Advisors LP boosted its holdings in shares of First Interstate BancSystem by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,495,403 shares of the financial services provider’s stock valued at $175,140,000 after buying an additional 78,835 shares during the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in shares of First Interstate BancSystem in the third quarter valued at $2,115,000. Vestmark Advisory Solutions Inc. acquired a new position in First Interstate BancSystem during the third quarter worth $895,000. Cambria Investment Management L.P. acquired a new position in First Interstate BancSystem during the third quarter worth $9,083,000. Finally, HoldCo Asset Management LP raised its position in First Interstate BancSystem by 10.6% during the third quarter. HoldCo Asset Management LP now owns 3,950,107 shares of the financial services provider’s stock worth $125,890,000 after acquiring an additional 380,000 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.