First Interstate BancSystem (NASDAQ:FIBK) Upgraded to Hold by StockNews.com

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

A number of other brokerages have also weighed in on FIBK. Wells Fargo & Company lifted their price objective on First Interstate BancSystem from $23.00 to $24.00 and gave the stock an equal weight rating in a research report on Wednesday, April 10th. Stephens reiterated an overweight rating and issued a $32.00 price objective on shares of First Interstate BancSystem in a research report on Thursday, April 25th. Barclays lifted their price objective on First Interstate BancSystem from $28.00 to $29.00 and gave the stock an equal weight rating in a research report on Friday, April 26th. Keefe, Bruyette & Woods lifted their price objective on First Interstate BancSystem from $28.00 to $29.00 and gave the stock a market perform rating in a research report on Friday, April 26th. Finally, Piper Sandler lifted their price target on First Interstate BancSystem from $32.00 to $37.00 and gave the company an overweight rating in a research report on Monday, April 29th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, First Interstate BancSystem currently has a consensus rating of Hold and an average target price of $30.20.

First Interstate BancSystem Price Performance

Shares of FIBK stock opened at $27.58 on Tuesday. The firm has a market cap of $2.88 billion, a P/E ratio of 10.99 and a beta of 0.85. First Interstate BancSystem has a fifty-two week low of $20.81 and a fifty-two week high of $32.54. The business’s 50 day moving average price is $26.36 and its 200-day moving average price is $27.09. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.78.

First Interstate BancSystem Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.88 annualized dividend and a dividend yield of 6.82%. First Interstate BancSystem’s dividend payout ratio is presently 74.90%.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, EVP Karlyn M. Knieriem sold 2,900 shares of First Interstate BancSystem stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $26.76, for a total transaction of $77,604.00. Following the completion of the transaction, the executive vice president now owns 20,599 shares in the company, valued at $551,229.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other First Interstate BancSystem news, EVP Karlyn M. Knieriem sold 2,900 shares of First Interstate BancSystem stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $26.76, for a total transaction of $77,604.00. Following the completion of the transaction, the executive vice president now owns 20,599 shares in the company, valued at $551,229.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lorrie F. Asker sold 1,921 shares of First Interstate BancSystem stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total value of $50,042.05. Following the transaction, the insider now owns 6,909 shares of the company’s stock, valued at approximately $179,979.45. The disclosure for this sale can be found here. 6.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC raised its stake in shares of First Interstate BancSystem by 132.8% in the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 530 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in shares of First Interstate BancSystem in the fourth quarter worth $39,000. Parallel Advisors LLC raised its stake in shares of First Interstate BancSystem by 205.3% in the fourth quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 856 shares during the last quarter. CWM LLC raised its stake in shares of First Interstate BancSystem by 42.1% in the fourth quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 702 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of First Interstate BancSystem in the third quarter worth $81,000. Hedge funds and other institutional investors own 88.71% of the company’s stock.

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.