First Interstate BancSystem (NASDAQ:FIBK) PT Raised to $36.00 at Stephens

First Interstate BancSystem (NASDAQ:FIBK) had its price target upped by Stephens from $32.00 to $36.00 in a research note published on Monday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other equities analysts have also issued reports on FIBK. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $29.00 price target on shares of First Interstate BancSystem in a research note on Monday, June 17th. StockNews.com lowered First Interstate BancSystem from a hold rating to a sell rating in a research note on Thursday, July 18th. Barclays upped their price target on First Interstate BancSystem from $28.00 to $29.00 and gave the company an equal weight rating in a research note on Friday, April 26th. Wells Fargo & Company upped their price objective on First Interstate BancSystem from $24.00 to $25.00 and gave the company an equal weight rating in a report on Tuesday, July 9th. Finally, Piper Sandler upped their price objective on First Interstate BancSystem from $32.00 to $37.00 and gave the company an overweight rating in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, First Interstate BancSystem has a consensus rating of Hold and an average target price of $33.33.

First Interstate BancSystem Price Performance

First Interstate BancSystem stock opened at $29.71 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $3.11 billion, a P/E ratio of 11.84 and a beta of 0.82. The business’s fifty day moving average is $28.04 and its two-hundred day moving average is $27.21. First Interstate BancSystem has a 52 week low of $20.81 and a 52 week high of $33.00.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the company earned $0.66 EPS. Equities research analysts forecast that First Interstate BancSystem will post 2.29 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FIBK. Global Retirement Partners LLC boosted its position in First Interstate BancSystem by 132.8% during the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 530 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of First Interstate BancSystem by 99.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,870 shares of the financial services provider’s stock valued at $150,000 after buying an additional 2,430 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in shares of First Interstate BancSystem by 5.9% in the fourth 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 buying an additional 14,111 shares during the last quarter. Altus Wealth Group LLC acquired a new stake in shares of First Interstate BancSystem in the fourth quarter valued at approximately $265,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of First Interstate BancSystem by 25.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,099 shares of the financial services provider’s stock valued at $618,000 after buying 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.