First Interstate BancSystem (NASDAQ:FIBK) Coverage Initiated at UBS Group

UBS Group began coverage on shares of First Interstate BancSystem (NASDAQ:FIBK – Get Rating) in a research report report published on Wednesday, The Fly reports. The brokerage issued a neutral rating and a $33.00 price objective on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on the company. Keefe, Bruyette & Woods downgraded First Interstate BancSystem from an outperform rating to a market perform rating and decreased their price objective for the company from $49.00 to $38.00 in a report on Monday, January 30th. Wells Fargo & Company decreased their price objective 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. Janney Montgomery Scott downgraded First Interstate BancSystem from a buy rating to a neutral rating in a report on Monday, January 30th. Finally, Stephens raised First Interstate BancSystem from an equal weight rating to an overweight rating and decreased their price objective for the company from $44.00 to $43.00 in a report on Wednesday, February 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $42.00.

First Interstate BancSystem Stock Down 6.2 %

NASDAQ FIBK opened at $29.75 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.85. The stock’s 50 day moving average is $36.01 and its two-hundred day moving average is $39.73. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 16.08 and a beta of 0.86. First Interstate BancSystem has a 1-year low of $29.50 and a 1-year high of $46.34.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 17th. Investors of record on Tuesday, February 7th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 6.32%. The ex-dividend date was Monday, February 6th. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 101.62%.

Insider Buying and Selling

In related news, Director Julie A. Scott sold 288,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $35.63, for a total value of $10,261,440.00. Following the completion of the transaction, the director now owns 2,517,351 shares in the company, valued at approximately $89,693,216.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Julie A. Scott sold 288,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $35.63, for a total value of $10,261,440.00. Following the completion of the transaction, the director now owns 2,517,351 shares in the company, valued at approximately $89,693,216.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Brannen sold 9,300 shares of the company’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $36.71, for a total transaction of $341,403.00. Following the sale, the director now owns 8,385 shares of the company’s stock, valued at approximately $307,813.35. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.

Institutional Trading of First Interstate BancSystem

Institutional investors and hedge funds have recently made changes to their positions in the business. Ronald Blue Trust Inc. bought a new stake in shares of First Interstate BancSystem during the 4th quarter valued at $28,000. Quadrant Capital Group LLC raised its position in shares of First Interstate BancSystem by 32.7% during the 3rd quarter. Quadrant Capital Group LLC now owns 917 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 226 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in shares of First Interstate BancSystem during the 4th quarter valued at $43,000. Belpointe Asset Management LLC acquired a new position in shares of First Interstate BancSystem in the 4th quarter valued at $58,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of First Interstate BancSystem by 263.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,081 shares of the financial services provider’s stock valued at $77,000 after buying an additional 1,508 shares during the period. Institutional investors own 77.78% of the company’s stock.

First Interstate BancSystem Company Profile

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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. The company was founded by Homer Scott Sr. in 1968 and is headquartered in Billings, MT.