Keefe, Bruyette & Woods Issues Positive Forecast for First Interstate BancSystem (NASDAQ:FIBK) Stock Price

First Interstate BancSystem (NASDAQ:FIBK) had its price objective hoisted by Keefe, Bruyette & Woods from $37.00 to $39.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Other research analysts have also recently issued reports about the stock. Barclays boosted their price objective on shares of First Interstate BancSystem from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, November 11th. Weiss Ratings downgraded shares of First Interstate BancSystem from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. Wells Fargo & Company boosted their target price on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. Wall Street Zen downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Finally, UBS Group lifted their price objective on First Interstate BancSystem from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, First Interstate BancSystem currently has a consensus rating of “Hold” and a consensus target price of $36.57.

First Interstate BancSystem Trading Down 0.1%

Shares of NASDAQ:FIBK opened at $35.54 on Wednesday. The company has a market cap of $3.66 billion, a P/E ratio of 15.00 and a beta of 0.82. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.74 and a quick ratio of 0.73. First Interstate BancSystem has a 1 year low of $22.95 and a 1 year high of $36.35. The stock’s fifty day moving average price is $32.31 and its 200-day moving average price is $31.02.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.69 EPS for the quarter. The company had revenue of $250.50 million during the quarter. First Interstate BancSystem had a return on equity of 7.25% and a net margin of 17.62%. Sell-side analysts expect that First Interstate BancSystem will post 2.53 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Monday, November 10th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Monday, November 10th. First Interstate BancSystem’s dividend payout ratio is 79.32%.

Insider Activity at First Interstate BancSystem

In other news, major shareholder Susan Scott Heyneman Trust, Su sold 10,000 shares of First Interstate BancSystem stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $32.75, for a total transaction of $327,500.00. Following the transaction, the insider directly owned 224,460 shares of the company’s stock, valued at $7,351,065. The trade was a 4.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Jonathan R. Scott sold 13,715 shares of the business’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $32.09, for a total value of $440,114.35. Following the transaction, the insider owned 959,109 shares of the company’s stock, valued at approximately $30,777,807.81. This trade represents a 1.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 92,232 shares of company stock worth $2,913,388. Corporate insiders own 8.20% of the company’s stock.

Hedge Funds Weigh In On First Interstate BancSystem

Several large investors have recently added to or reduced their stakes in the company. First Horizon Corp purchased a new stake in shares of First Interstate BancSystem in the third quarter worth $26,000. GAMMA Investing LLC boosted its holdings in First Interstate BancSystem by 186.5% in the 2nd quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock worth $29,000 after buying an additional 647 shares during the period. Quarry LP boosted its holdings in First Interstate BancSystem by 63.8% in the 1st quarter. Quarry LP now owns 1,155 shares of the financial services provider’s stock worth $33,000 after buying an additional 450 shares during the period. EverSource Wealth Advisors LLC increased its stake in First Interstate BancSystem by 139.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock worth $43,000 after buying an additional 862 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in First Interstate BancSystem by 1,485.1% during the third quarter. Jones Financial Companies Lllp now owns 1,601 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 1,500 shares during the period. Hedge funds and other institutional investors own 88.71% of the company’s stock.

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.