First Interstate BancSystem (NASDAQ:FIBK) PT Raised to $37.00

First Interstate BancSystem (NASDAQ:FIBK) had its target price hoisted by Piper Sandler from $32.00 to $37.00 in a report published on Monday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other research analysts also recently commented on the company. Keefe, Bruyette & Woods raised their price objective on First Interstate BancSystem from $28.00 to $29.00 and gave the stock a market perform rating in a report on Friday, April 26th. TheStreet lowered First Interstate BancSystem from a b- rating to a c+ rating in a research note on Monday, March 18th. Stephens reaffirmed an overweight rating and issued a $32.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, April 25th. Barclays increased their target price on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the stock an equal weight rating in a report on Friday, April 26th. Finally, Wells Fargo & Company boosted their price target on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the company an equal weight rating in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $30.20.

First Interstate BancSystem Trading Up 2.8 %

Shares of FIBK opened at $27.46 on Monday. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 10.94 and a beta of 0.87. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.77 and a quick ratio of 0.76. First Interstate BancSystem has a 1-year low of $20.81 and a 1-year high of $32.54. The company has a 50-day moving average of $26.15 and a 200 day moving average of $26.76.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. The firm had revenue of $252.30 million during the quarter, compared to the consensus estimate of $254.50 million. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.55%. On average, research analysts expect that First Interstate BancSystem will post 2.18 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be paid a $0.47 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.88 annualized dividend and a yield of 6.85%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 74.90%.

Insiders Place Their Bets

In other news, EVP Kristina Robbins sold 2,710 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total value of $69,999.30. Following the sale, the executive vice president now directly owns 9,047 shares in the company, valued at approximately $233,684.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Kristina Robbins sold 2,710 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total transaction of $69,999.30. Following the completion of the transaction, the executive vice president now owns 9,047 shares in the company, valued at approximately $233,684.01. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Karlyn M. Knieriem sold 2,900 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $26.76, for a total transaction of $77,604.00. Following the sale, the executive vice president now directly owns 20,599 shares of the company’s stock, valued at approximately $551,229.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,531 shares of company stock worth $197,645. 6.90% of the stock is owned by corporate insiders.

Institutional Trading of First Interstate BancSystem

Institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC increased its position in First Interstate BancSystem by 132.8% during the 4th quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock valued at $26,000 after buying an additional 530 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of First Interstate BancSystem during the fourth quarter worth about $39,000. Parallel Advisors LLC increased its holdings in shares of First Interstate BancSystem by 205.3% during the fourth quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 856 shares in the last quarter. CWM LLC raised its position in shares of First Interstate BancSystem by 42.1% in the 4th quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 702 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in First Interstate BancSystem in the 3rd quarter worth approximately $81,000. Institutional investors and hedge funds 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.