First Interstate BancSystem (NASDAQ:FIBK) PT Raised to $29.00

First Interstate BancSystem (NASDAQ:FIBK - Free Report) had its price target lifted by Barclays from $28.00 to $29.00 in a research report released on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider's stock.

Several other research analysts have also recently commented on the stock. TheStreet cut shares of First Interstate BancSystem from a b- rating to a c+ rating in a report on Monday, March 18th. Keefe, Bruyette & Woods lifted their target price on First Interstate BancSystem from $28.00 to $29.00 and gave the company a market perform rating in a research report on Friday. Wells Fargo & Company increased their price target on First Interstate BancSystem from $23.00 to $24.00 and gave the company an equal weight rating in a research report on Wednesday, April 10th. Finally, Stephens reaffirmed an overweight rating and set a $32.00 price target on shares of First Interstate BancSystem in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $29.20.

First Interstate BancSystem Stock Up 0.2 %

FIBK stock traded up $0.05 during trading hours on Friday, reaching $27.00. 511,803 shares of the stock were exchanged, compared to its average volume of 830,670. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 10.76 and a beta of 0.87. The firm's 50-day moving average is $26.10 and its 200-day moving average is $26.68. First Interstate BancSystem has a 12 month low of $20.81 and a 12 month high of $32.54. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.77 and a quick ratio of 0.76.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its earnings results on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.04. The business had revenue of $252.30 million for the quarter, compared to analyst estimates of $254.50 million. First Interstate BancSystem had a return on equity of 8.55% and a net margin of 18.04%. On average, equities research analysts expect that First Interstate BancSystem will post 2.17 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 6.96%. The ex-dividend date of this dividend is Friday, May 3rd. First Interstate BancSystem's payout ratio is presently 74.90%.

Insider Activity at First Interstate BancSystem

In other First Interstate BancSystem news, EVP Kristina Robbins sold 2,710 shares of the firm's stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total transaction of $69,999.30. Following the completion of the sale, the executive vice president now directly owns 9,047 shares in the company, valued at $233,684.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other First Interstate BancSystem news, EVP Kristina Robbins sold 2,710 shares of First Interstate BancSystem stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total value of $69,999.30. Following the completion of the sale, the executive vice president now owns 9,047 shares in the company, valued at approximately $233,684.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Karlyn M. Knieriem sold 2,900 shares of the business's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $26.76, for a total transaction of $77,604.00. Following the completion of the sale, the executive vice president now directly owns 20,599 shares of the company's stock, valued at approximately $551,229.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,531 shares of company stock worth $197,645. Insiders own 6.90% of the company's stock.

Hedge Funds Weigh In On First Interstate BancSystem

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caprock Group LLC raised its stake in First Interstate BancSystem by 1.8% in the fourth quarter. Caprock Group LLC now owns 24,814 shares of the financial services provider's stock valued at $763,000 after purchasing an additional 443 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of First Interstate BancSystem by 132.8% in the 4th quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider's stock valued at $26,000 after buying an additional 530 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of First Interstate BancSystem by 22.0% during the 3rd quarter. Signaturefd LLC now owns 3,886 shares of the financial services provider's stock worth $97,000 after acquiring an additional 700 shares during the period. CWM LLC boosted its position in shares of First Interstate BancSystem by 42.1% during the 4th quarter. CWM LLC now owns 2,368 shares of the financial services provider's stock worth $73,000 after acquiring an additional 702 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in First Interstate BancSystem by 28.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,378 shares of the financial services provider's stock valued at $104,000 after purchasing an additional 744 shares in the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

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. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.