First Interstate BancSystem, Inc. (NASDAQ:FIBK) Stock Has Average Price Target of $37.14

Key Points

• Analyst sentiment is cautious: Nine brokerages give First Interstate BancSystem an average “Reduce” rating, with three sells, four holds and two buys. Their average 12-month price target is $37.14.
• The company reported quarterly EPS of $0.65, missing the $0.68 consensus estimate by $0.03; analysts forecast full-year EPS of $2.79.
• First Interstate declared a quarterly dividend of $0.47 per share, equivalent to $1.88 annually and a stated yield of 4.9%.

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) have earned an average recommendation of "Reduce" from the nine brokerages that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $37.14.

Several brokerages recently issued reports on FIBK. DA Davidson reiterated a "neutral" rating and issued a $39.00 price target on shares of First Interstate BancSystem in a research note on Monday, July 27th. Stephens boosted their price objective on shares of First Interstate BancSystem from $37.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 29th. Wall Street Zen lowered shares of First Interstate BancSystem from a "hold" rating to a "sell" rating in a research note on Saturday, October 24th. Weiss Ratings restated a "buy (b)" rating on shares of First Interstate BancSystem in a report on Monday, September 28th. Finally, Benchmark raised shares of First Interstate BancSystem to a "hold" rating in a research note on Wednesday, September 23rd.

First Interstate BancSystem Stock Down 2.8%

FIBK stock opened at $38.01 on Friday. First Interstate BancSystem has a fifty-two week low of $29.39 and a fifty-two week high of $40.60. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of 11.84 and a beta of 0.73. The business's 50 day moving average price is $36.54 and its two-hundred day moving average price is $36.32. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.69 and a current ratio of 0.68.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released its earnings results on Thursday, October 22nd. The financial services provider reported $0.65 EPS for the quarter, missing analysts' consensus estimates of $0.68 by ($0.03). The firm had revenue of $43.30 million during the quarter, compared to analysts' expectations of $247.93 million. First Interstate BancSystem had a net margin of 23.30% and a return on equity of 9.49%. As a group, analysts forecast that First Interstate BancSystem will post 2.79 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, November 3rd will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, November 3rd. First Interstate BancSystem's payout ratio is currently 58.57%.

Insider Buying and Selling

In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 2,700 shares of First Interstate BancSystem stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $37.64, for a total transaction of $101,628.00. Following the completion of the transaction, the insider owned 484,309 shares in the company, valued at approximately $18,229,390.76. The trade was a 0.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Jonathan R. Scott sold 4,175 shares of First Interstate BancSystem stock in a transaction on Monday, October 26th. The shares were sold at an average price of $37.31, for a total value of $155,769.25. Following the transaction, the insider owned 807,738 shares of the company's stock, valued at $30,136,704.78. The trade was a 0.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 40,858 shares of company stock worth $1,520,287 in the last 90 days. Insiders own 8.00% of the company's stock.

Institutional Investors Weigh In On First Interstate BancSystem

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in First Interstate BancSystem in the second quarter worth approximately $529,533,000. Bank of America Corp DE bought a new stake in First Interstate BancSystem in the 2nd quarter worth approximately $56,386,000. Bank of New York Mellon Corp bought a new stake in First Interstate BancSystem in the 2nd quarter worth approximately $38,663,000. First Trust Advisors LP raised its stake in First Interstate BancSystem by 214.9% during the 1st quarter. First Trust Advisors LP now owns 1,197,557 shares of the financial services provider's stock valued at $39,998,000 after buying an additional 817,235 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. purchased a new stake in First Interstate BancSystem during the 2nd quarter valued at $30,000,000. 88.71% of the stock is owned by hedge funds and other institutional investors.

About First Interstate BancSystem

First Interstate BancSystem, Inc is a financial holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides community banking services to individuals, businesses, agricultural customers and governmental entities.

First Interstate Bank offers deposit accounts, consumer and commercial loans, mortgage lending, credit cards, cash-management and treasury-management services, online and mobile banking, and wealth-management and investment services.

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