Brokerages Set First Interstate Bancsystem Inc (NASDAQ:FIBK) Target Price at $37.00

Share on StockTwits

Shares of First Interstate Bancsystem Inc (NASDAQ:FIBK) have been given an average rating of “Hold” by the seven ratings firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $37.00.

A number of analysts recently weighed in on FIBK shares. BidaskClub raised shares of First Interstate Bancsystem from a “sell” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Co upped their target price on shares of First Interstate Bancsystem from $28.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Keefe, Bruyette & Woods raised shares of First Interstate Bancsystem from a “market perform” rating to an “outperform” rating and set a $39.00 target price on the stock in a report on Wednesday, April 1st. TheStreet lowered shares of First Interstate Bancsystem from a “b-” rating to a “c+” rating in a report on Wednesday, March 11th. Finally, Zacks Investment Research raised shares of First Interstate Bancsystem from a “sell” rating to a “hold” rating in a report on Wednesday, May 27th.

In related news, CEO Kevin P. Riley purchased 2,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was acquired at an average price of $34.13 per share, with a total value of $68,260.00. Following the purchase, the chief executive officer now directly owns 26,791 shares in the company, valued at $914,376.83. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ross E. Leckie sold 1,440 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $32.42, for a total transaction of $46,684.80. Following the completion of the transaction, the director now directly owns 8,028 shares of the company’s stock, valued at approximately $260,267.76. The disclosure for this sale can be found here. 21.99% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. Eagle Asset Management Inc. boosted its stake in shares of First Interstate Bancsystem by 3.1% in the 4th quarter. Eagle Asset Management Inc. now owns 303,295 shares of the financial services provider’s stock valued at $12,714,000 after purchasing an additional 8,994 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of First Interstate Bancsystem by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 546,618 shares of the financial services provider’s stock valued at $22,914,000 after purchasing an additional 4,879 shares in the last quarter. Advisory Research Inc. boosted its stake in shares of First Interstate Bancsystem by 65.6% in the 4th quarter. Advisory Research Inc. now owns 498,262 shares of the financial services provider’s stock valued at $20,887,000 after purchasing an additional 197,442 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of First Interstate Bancsystem by 6.5% in the 1st quarter. Rhumbline Advisers now owns 81,355 shares of the financial services provider’s stock valued at $2,346,000 after purchasing an additional 4,990 shares in the last quarter. Finally, Martingale Asset Management L P boosted its stake in shares of First Interstate Bancsystem by 105.9% in the 1st quarter. Martingale Asset Management L P now owns 14,215 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 7,310 shares in the last quarter. 50.15% of the stock is owned by institutional investors.

Shares of NASDAQ FIBK traded down $2.29 during midday trading on Monday, hitting $30.61. The company’s stock had a trading volume of 8,218 shares, compared to its average volume of 252,918. The stock has a fifty day moving average price of $30.94 and a 200 day moving average price of $35.37. First Interstate Bancsystem has a one year low of $24.50 and a one year high of $43.83. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 12.65 and a beta of 1.13.

First Interstate Bancsystem (NASDAQ:FIBK) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.18). The business had revenue of $166.80 million during the quarter, compared to the consensus estimate of $159.10 million. First Interstate Bancsystem had a net margin of 23.56% and a return on equity of 9.16%. On average, equities research analysts predict that First Interstate Bancsystem will post 2.26 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date was Friday, May 8th. This is a boost from First Interstate Bancsystem’s previous quarterly dividend of $0.20. First Interstate Bancsystem’s payout ratio is currently 44.30%.

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. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.

Further Reading: What is FinTech?

Receive News & Ratings for First Interstate Bancsystem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Interstate Bancsystem and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply