First Interstate BancSystem (NASDAQ:FIBK) Raised to Hold at StockNews.com

StockNews.com upgraded shares of First Interstate BancSystem (NASDAQ:FIBK) from a sell rating to a hold rating in a research report released on Tuesday.

FIBK has been the subject of a number of other reports. Barclays downgraded shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $32.00 to $30.00 in a report on Thursday, October 31st. DA Davidson upped their price objective on First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Wells Fargo & Company lowered First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $30.00 to $28.00 in a research report on Tuesday, October 1st. Keefe, Bruyette & Woods boosted their target price on First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Finally, Stephens reiterated an “overweight” rating and set a $36.00 price target on shares of First Interstate BancSystem in a research report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, First Interstate BancSystem currently has a consensus rating of “Hold” and an average target price of $32.50.

First Interstate BancSystem Price Performance

Shares of NASDAQ FIBK opened at $33.74 on Tuesday. The firm has a market capitalization of $3.53 billion, a P/E ratio of 14.80 and a beta of 0.81. The company has a quick ratio of 0.79, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The stock’s 50-day simple moving average is $30.81 and its two-hundred day simple moving average is $29.14. First Interstate BancSystem has a twelve month low of $22.89 and a twelve month high of $34.53.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same quarter in the previous year, the company earned $0.70 earnings per share. As a group, equities analysts anticipate that First Interstate BancSystem will post 2.28 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a $0.47 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.88 dividend on an annualized basis and a yield of 5.57%. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 82.46%.

Insider Buying and Selling at First Interstate BancSystem

In related news, major shareholder Julie A. Scott sold 20,220 shares of First Interstate BancSystem stock in a transaction on Friday, November 8th. The shares were sold at an average price of $32.78, for a total value of $662,811.60. Following the transaction, the insider now directly owns 635,069 shares of the company’s stock, valued at $20,817,561.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Julie A. Scott sold 20,220 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $32.78, for a total transaction of $662,811.60. Following the transaction, the insider now owns 635,069 shares in the company, valued at $20,817,561.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Julie A. Scott sold 22,050 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $33.80, for a total value of $745,290.00. Following the completion of the sale, the insider now owns 613,019 shares of the company’s stock, valued at approximately $20,720,042.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,820 shares of company stock worth $1,424,926. 6.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its stake in shares of First Interstate BancSystem by 235.6% during the 1st quarter. BNP Paribas Financial Markets now owns 78,311 shares of the financial services provider’s stock valued at $2,131,000 after purchasing an additional 54,973 shares in the last quarter. SG Americas Securities LLC purchased a new stake in First Interstate BancSystem in the first quarter worth about $273,000. Swiss National Bank boosted its position in First Interstate BancSystem by 6.0% during the 1st quarter. Swiss National Bank now owns 186,546 shares of the financial services provider’s stock valued at $5,076,000 after acquiring an additional 10,600 shares in the last quarter. Sei Investments Co. grew its holdings in shares of First Interstate BancSystem by 5.8% during the 1st quarter. Sei Investments Co. now owns 448,158 shares of the financial services provider’s stock worth $12,194,000 after acquiring an additional 24,552 shares during the period. Finally, Inspire Investing LLC raised its position in shares of First Interstate BancSystem by 4.6% in the 1st quarter. Inspire Investing LLC now owns 13,057 shares of the financial services provider’s stock worth $355,000 after acquiring an additional 570 shares in the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

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.