First Interstate BancSystem (NASDAQ:FIBK) Given New $31.00 Price Target at Keefe, Bruyette & Woods

First Interstate BancSystem (NASDAQ:FIBK) had its target price increased by Keefe, Bruyette & Woods from $29.00 to $31.00 in a report released on Monday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Other research analysts have also recently issued reports about the company. StockNews.com cut First Interstate BancSystem from a hold rating to a sell rating in a research report on Thursday, July 18th. Barclays raised their price objective on First Interstate BancSystem from $28.00 to $29.00 and gave the company an equal weight rating in a report on Friday, April 26th. Piper Sandler raised their price objective on First Interstate BancSystem from $37.00 to $38.00 and gave the company an overweight rating in a report on Monday. Stephens raised their price objective on First Interstate BancSystem from $32.00 to $36.00 and gave the company an overweight rating in a report on Monday. Finally, Wells Fargo & Company raised their price objective on First Interstate BancSystem from $25.00 to $30.00 and gave the company an equal weight rating in a report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $33.33.

First Interstate BancSystem Trading Down 5.9 %

Shares of NASDAQ:FIBK opened at $29.71 on Monday. First Interstate BancSystem has a 52-week low of $20.81 and a 52-week high of $33.00. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 11.84 and a beta of 0.82. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.90. The business has a 50-day moving average price of $28.04 and a 200-day moving average price of $27.21.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.03. First Interstate BancSystem had a return on equity of 8.22% and a net margin of 17.76%. During the same period in the previous year, the business earned $0.66 earnings per share. Equities analysts predict that First Interstate BancSystem will post 2.29 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 5th will be given a $0.47 dividend. The ex-dividend date is Monday, August 5th. This represents a $1.88 dividend on an annualized basis and a yield of 6.33%. First Interstate BancSystem’s dividend payout ratio is currently 74.90%.

Insider Buying and Selling at First Interstate BancSystem

In related news, Director Jonathan R. Scott Trust Dtd 11 20,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jonathan R. Scott sold 29,499 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $25.29, for a total value of $746,029.71. Following the sale, the director now owns 1,021,663 shares in the company, valued at approximately $25,837,857.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan R. Scott Trust Dtd 11 20,000 shares of First Interstate BancSystem stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. Company insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FIBK. Global Retirement Partners LLC grew its stake in First Interstate BancSystem by 132.8% during the 4th quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 530 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of First Interstate BancSystem by 99.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,870 shares of the financial services provider’s stock valued at $150,000 after acquiring an additional 2,430 shares during the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of First Interstate BancSystem by 5.9% in the 4th quarter. Mutual of America Capital Management LLC now owns 253,522 shares of the financial services provider’s stock valued at $7,796,000 after acquiring an additional 14,111 shares during the last quarter. Altus Wealth Group LLC purchased a new position in shares of First Interstate BancSystem in the 4th quarter valued at about $265,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of First Interstate BancSystem by 25.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,099 shares of the financial services provider’s stock valued at $618,000 after acquiring an additional 4,040 shares during the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

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.