First Interstate BancSystem (NASDAQ:FIBK) Sets New 12-Month High – Time to Buy?

First Interstate BancSystem, Inc. (NASDAQ:FIBK) hit a new 52-week high during trading on Wednesday . The stock traded as high as $33.66 and last traded at $33.56, with a volume of 50000 shares trading hands. The stock had previously closed at $30.38.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FIBK shares. Keefe, Bruyette & Woods boosted their target price on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Barclays cut First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $32.00 to $30.00 in a report on Thursday, October 31st. Stephens restated an “overweight” rating and issued a $36.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, October 10th. StockNews.com downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Finally, DA Davidson upped their price objective on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $32.50.

First Interstate BancSystem Stock Performance

The company has a market cap of $3.41 billion, a P/E ratio of 14.30 and a beta of 0.81. The stock’s 50-day moving average price is $30.72 and its 200-day moving average price is $29.01. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.79 and a quick ratio of 0.79.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.57% and a net margin of 17.22%. During the same quarter last year, the firm posted $0.70 earnings per share. Equities analysts anticipate that First Interstate BancSystem, Inc. will post 2.29 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 4th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date is Monday, November 4th. First Interstate BancSystem’s dividend payout ratio is currently 82.46%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. TNF LLC lifted its position in First Interstate BancSystem by 1.5% during the third quarter. TNF LLC now owns 25,376 shares of the financial services provider’s stock worth $812,000 after purchasing an additional 367 shares during the period. Caprock Group LLC lifted its holdings in shares of First Interstate BancSystem by 1.7% during the 2nd quarter. Caprock Group LLC now owns 25,673 shares of the financial services provider’s stock worth $713,000 after acquiring an additional 422 shares during the period. Wrapmanager Inc. lifted its holdings in shares of First Interstate BancSystem by 5.0% during the 3rd quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 429 shares during the period. CWM LLC boosted its position in shares of First Interstate BancSystem by 16.0% during the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 430 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in First Interstate BancSystem by 5.3% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider’s stock valued at $311,000 after acquiring an additional 507 shares during the last quarter. Institutional investors own 88.71% of the company’s stock.

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. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.