First Interstate BancSystem (FIBK) Receives $46.00 Consensus Target Price from Brokerages

Shares of First Interstate BancSystem (NASDAQ:FIBK) have earned a consensus recommendation of “Buy” from the eight analysts that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $46.00.

FIBK has been the subject of several recent research reports. Sandler O’Neill reissued a “buy” rating and issued a $46.00 target price on shares of First Interstate BancSystem in a research report on Thursday, March 29th. BidaskClub downgraded shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research report on Wednesday, April 11th. Zacks Investment Research raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Friday, April 27th. ValuEngine downgraded shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research report on Monday, June 11th. Finally, FIG Partners raised shares of First Interstate BancSystem from a “market perform” rating to an “outperform” rating in a research report on Thursday, April 26th.

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In other news, Director John M. Heyneman, Jr. sold 2,000 shares of the business’s stock in a transaction on Sunday, November 25th. The shares were sold at an average price of $37.35, for a total value of $74,700.00. Following the completion of the sale, the director now directly owns 3,621 shares in the company, valued at $135,244.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Randall I. Scott sold 6,000 shares of the business’s stock in a transaction on Monday, June 4th. The stock was sold at an average price of $43.88, for a total transaction of $263,280.00. The disclosure for this sale can be found here. Insiders sold 46,867 shares of company stock valued at $1,996,912 over the last three months. Insiders own 40.23% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in shares of First Interstate BancSystem by 3.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,378,676 shares of the financial services provider’s stock worth $95,266,000 after buying an additional 86,997 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of First Interstate BancSystem by 5.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 113,102 shares of the financial services provider’s stock worth $4,530,000 after buying an additional 6,350 shares during the last quarter. Macquarie Group Ltd. lifted its stake in shares of First Interstate BancSystem by 14.4% in the fourth quarter. Macquarie Group Ltd. now owns 2,156,397 shares of the financial services provider’s stock worth $86,364,000 after buying an additional 271,054 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of First Interstate BancSystem by 23.4% in the fourth quarter. Wells Fargo & Company MN now owns 160,249 shares of the financial services provider’s stock worth $6,419,000 after buying an additional 30,407 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of First Interstate BancSystem by 9.0% in the fourth quarter. California Public Employees Retirement System now owns 35,379 shares of the financial services provider’s stock worth $1,417,000 after buying an additional 2,917 shares during the last quarter. Institutional investors and hedge funds own 46.59% of the company’s stock.

First Interstate BancSystem traded up $0.40, reaching $43.55, on Thursday, according to MarketBeat. 206,400 shares of the company traded hands, compared to its average volume of 178,117. First Interstate BancSystem has a 52-week low of $33.33 and a 52-week high of $44.95. The company has a market capitalization of $2.44 billion, a PE ratio of 21.67, a PEG ratio of 1.63 and a beta of 1.13. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.78 and a current ratio of 0.78.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Wednesday, April 25th. The financial services provider reported $0.68 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.68. First Interstate BancSystem had a net margin of 21.49% and a return on equity of 9.50%. The firm had revenue of $135.00 million for the quarter, compared to the consensus estimate of $136.17 million. equities analysts forecast that First Interstate BancSystem will post 2.94 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 24th. Shareholders of record on Monday, May 14th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.57%. The ex-dividend date was Friday, May 11th. First Interstate BancSystem’s dividend payout ratio is 55.72%.

First Interstate BancSystem Company Profile

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.