First Interstate Bancsystem Inc (NASDAQ:FIBK) has received an average rating of “Hold” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $45.33.
A number of research analysts have recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $45.00 price objective on shares of First Interstate Bancsystem in a research note on Friday, December 22nd. Piper Jaffray Companies reaffirmed a “buy” rating on shares of First Interstate Bancsystem in a research note on Wednesday, January 31st. Barclays upped their price objective on shares of First Interstate Bancsystem from $43.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Zacks Investment Research raised shares of First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Wednesday, November 1st.
Shares of First Interstate Bancsystem (FIBK) traded up $0.80 during mid-day trading on Friday, reaching $40.05. 276,500 shares of the company traded hands, compared to its average volume of 160,169. First Interstate Bancsystem has a 12-month low of $33.33 and a 12-month high of $45.35. The firm has a market cap of $2,261.02, a P/E ratio of 19.54, a price-to-earnings-growth ratio of 1.50 and a beta of 1.11. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.08.
First Interstate Bancsystem (NASDAQ:FIBK) last posted its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.08). First Interstate Bancsystem had a net margin of 19.90% and a return on equity of 9.37%. The company had revenue of $138.03 million for the quarter, compared to analyst estimates of $138.00 million. sell-side analysts predict that First Interstate Bancsystem will post 2.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Monday, February 12th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Friday, February 9th. This is an increase from First Interstate Bancsystem’s previous quarterly dividend of $0.24. First Interstate Bancsystem’s dividend payout ratio is 46.83%.
In other First Interstate Bancsystem news, CEO Kevin P. Riley bought 800 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was purchased at an average price of $41.34 per share, with a total value of $33,072.00. Following the transaction, the chief executive officer now owns 28,349 shares in the company, valued at $1,171,947.66. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ross E. Leckie sold 2,000 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $39.61, for a total transaction of $79,220.00. Following the sale, the director now directly owns 21,028 shares of the company’s stock, valued at approximately $832,919.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,925 shares of company stock valued at $3,014,963. Corporate insiders own 38.22% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in First Interstate Bancsystem by 3.8% during the 4th 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 purchasing an additional 86,997 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in First Interstate Bancsystem by 5.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,309,818 shares of the financial services provider’s stock worth $88,349,000 after acquiring an additional 111,928 shares during the period. Vanguard Group Inc. boosted its holdings in First Interstate Bancsystem by 28.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,298,523 shares of the financial services provider’s stock worth $85,505,000 after acquiring an additional 503,474 shares during the period. Macquarie Group Ltd. boosted its holdings in First Interstate Bancsystem by 46.0% in the 3rd quarter. Macquarie Group Ltd. now owns 1,885,343 shares of the financial services provider’s stock worth $72,114,000 after acquiring an additional 594,414 shares during the period. Finally, State Street Corp boosted its holdings in First Interstate Bancsystem by 15.0% in the 2nd quarter. State Street Corp now owns 884,868 shares of the financial services provider’s stock worth $32,915,000 after acquiring an additional 115,241 shares during the period. 45.43% of the stock is owned by hedge funds and other institutional investors.
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About First Interstate Bancsystem
First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.
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