Shares of First Interstate Bancsystem Inc (NASDAQ:FIBK) have been assigned an average recommendation of “Hold” from the eight analysts that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $44.98.
A number of equities analysts have issued reports on the company. Zacks Investment Research cut First Interstate Bancsystem from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. BidaskClub raised First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research report on Saturday, February 9th. Finally, Piper Jaffray Companies set a $47.00 target price on First Interstate Bancsystem and gave the stock a “buy” rating in a research report on Tuesday, April 9th.
In other First Interstate Bancsystem news, CEO Kevin P. Riley sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $39.36, for a total value of $196,800.00. Following the completion of the transaction, the chief executive officer now owns 21,880 shares in the company, valued at approximately $861,196.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jonathan R. Scott sold 15,670 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $41.14, for a total value of $644,663.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,986 shares of company stock valued at $1,023,445. 24.93% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of FIBK. FMR LLC increased its stake in First Interstate Bancsystem by 150.2% in the 4th quarter. FMR LLC now owns 1,340,663 shares of the financial services provider’s stock worth $49,014,000 after purchasing an additional 804,884 shares during the period. Natixis Advisors L.P. boosted its holdings in First Interstate Bancsystem by 43.3% in the fourth quarter. Natixis Advisors L.P. now owns 14,511 shares of the financial services provider’s stock worth $531,000 after acquiring an additional 4,387 shares in the last quarter. Naples Global Advisors LLC boosted its holdings in First Interstate Bancsystem by 11.3% in the fourth quarter. Naples Global Advisors LLC now owns 17,800 shares of the financial services provider’s stock worth $673,000 after acquiring an additional 1,800 shares in the last quarter. Rothschild & Co. Asset Management US Inc. boosted its holdings in First Interstate Bancsystem by 25.6% in the fourth quarter. Rothschild & Co. Asset Management US Inc. now owns 164,787 shares of the financial services provider’s stock worth $6,025,000 after acquiring an additional 33,552 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in First Interstate Bancsystem by 20.1% in the fourth quarter. Millennium Management LLC now owns 751,741 shares of the financial services provider’s stock worth $27,484,000 after acquiring an additional 125,944 shares in the last quarter. Hedge funds and other institutional investors own 52.00% of the company’s stock.
Shares of First Interstate Bancsystem stock traded up $0.82 during trading on Thursday, reaching $37.89. The company’s stock had a trading volume of 5,964 shares, compared to its average volume of 191,762. The stock has a market cap of $2.25 billion, a PE ratio of 12.95, a PEG ratio of 1.32 and a beta of 1.20. First Interstate Bancsystem has a 52 week low of $34.61 and a 52 week high of $47.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81.
First Interstate Bancsystem (NASDAQ:FIBK) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.72 EPS for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). First Interstate Bancsystem had a net margin of 25.84% and a return on equity of 10.69%. The company had revenue of $150.50 million during the quarter, compared to analyst estimates of $151.84 million. Equities research analysts predict that First Interstate Bancsystem will post 3.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Monday, May 13th were paid a dividend of $0.31 per share. This is an increase from First Interstate Bancsystem’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.24 annualized dividend and a dividend yield of 3.27%. First Interstate Bancsystem’s dividend payout ratio is presently 42.47%.
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. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.
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