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First Interstate BancSystem, Inc. (NASDAQ:FIBK) Given Consensus Recommendation of "Hold" by Analysts

Defense World · Feb 8, 2023 04:13

First Interstate BancSystem, Inc. (NASDAQ:FIBK – Get Rating) has received an average recommendation of "Hold" from the seven ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $44.25.

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods lowered First Interstate BancSystem from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $49.00 to $38.00 in a research note on Monday, January 30th. Wells Fargo & Company cut their price target on First Interstate BancSystem from $48.00 to $42.00 and set an "overweight" rating on the stock in a report on Monday, January 30th. StockNews.com downgraded First Interstate BancSystem from a "hold" rating to a "sell" rating in a report on Wednesday, October 26th. Janney Montgomery Scott downgraded First Interstate BancSystem from a "buy" rating to a "neutral" rating in a report on Monday, January 30th. Finally, Stephens upgraded First Interstate BancSystem from an "equal weight" rating to an "overweight" rating and cut their price target for the stock from $44.00 to $43.00 in a report on Wednesday, February 1st.

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First Interstate BancSystem Stock Performance

Shares of First Interstate BancSystem stock opened at $37.07 on Wednesday. First Interstate BancSystem has a 52 week low of $32.40 and a 52 week high of $46.34. The business's fifty day simple moving average is $38.67 and its 200-day simple moving average is $40.88. The firm has a market cap of $3.87 billion, a PE ratio of 20.04 and a beta of 0.87. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.30.

First Interstate BancSystem Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 17th. Investors of record on Tuesday, February 7th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 5.07%. The ex-dividend date is Monday, February 6th. First Interstate BancSystem's payout ratio is currently 101.62%.

Insiders Place Their Bets

In other news, Director James Brannen sold 9,300 shares of First Interstate BancSystem stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $36.71, for a total value of $341,403.00. Following the completion of the sale, the director now owns 8,385 shares of the company's stock, valued at $307,813.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director James Brannen sold 9,300 shares of First Interstate BancSystem stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $36.71, for a total value of $341,403.00. Following the transaction, the director now owns 8,385 shares in the company, valued at $307,813.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin P. Riley sold 2,500 shares of the business's stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $41.45, for a total value of $103,625.00. Following the transaction, the chief executive officer now owns 48,549 shares in the company, valued at approximately $2,012,356.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,652 shares of company stock valued at $1,948,022. Corporate insiders own 6.40% of the company's stock.

Institutional Trading of First Interstate BancSystem

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Jacobs Asset Management LLC grew its holdings in shares of First Interstate BancSystem by 41.5% during the fourth quarter. Jacobs Asset Management LLC now owns 375,000 shares of the financial services provider's stock valued at $14,494,000 after purchasing an additional 110,000 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in First Interstate BancSystem by 12.8% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 14,560 shares of the financial services provider's stock worth $563,000 after purchasing an additional 1,650 shares during the period. LPL Financial LLC lifted its position in First Interstate BancSystem by 24.6% in the fourth quarter. LPL Financial LLC now owns 10,085 shares of the financial services provider's stock worth $390,000 after purchasing an additional 1,992 shares during the period. River Oaks Capital LLC lifted its position in First Interstate BancSystem by 1.3% in the fourth quarter. River Oaks Capital LLC now owns 84,400 shares of the financial services provider's stock worth $3,262,000 after purchasing an additional 1,100 shares during the period. Finally, Cypress Capital Management LLC WY lifted its position in First Interstate BancSystem by 1.4% in the fourth quarter. Cypress Capital Management LLC WY now owns 141,880 shares of the financial services provider's stock worth $5,484,000 after purchasing an additional 1,910 shares during the period. 77.78% of the stock is owned by institutional investors.

About First Interstate BancSystem

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First Interstate BancSystem, Inc is a financial holding company, which engages in the provision of community banking solutions. The firm offers commercial and consumer banking services to individuals, businesses, municipalities, and other entities. It also provides Internet, mobile, and other banking and financial services.