First Interstate Bancsystem Inc (NASDAQ:FIBK) Receives $44.23 Consensus Target Price from Analysts

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Shares of First Interstate Bancsystem Inc (NASDAQ:FIBK) have been given a consensus recommendation of “Hold” by the seven brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $44.23.

Several analysts have recently issued reports on FIBK shares. ValuEngine cut First Interstate Bancsystem from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. BidaskClub upgraded First Interstate Bancsystem from a “hold” rating to a “buy” rating in a research note on Saturday, August 3rd. Finally, Zacks Investment Research upgraded First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research note on Wednesday.

Shares of NASDAQ FIBK traded up $0.83 during mid-day trading on Tuesday, hitting $38.54. The company had a trading volume of 168,500 shares, compared to its average volume of 183,553. The company has a market capitalization of $2.46 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 1.37 and a beta of 1.18. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.82 and a quick ratio of 0.82. First Interstate Bancsystem has a 1-year low of $34.61 and a 1-year high of $47.05. The business’s 50-day simple moving average is $39.18 and its 200 day simple moving average is $39.99.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Thursday, August 8th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This is a boost from First Interstate Bancsystem’s previous quarterly dividend of $0.20. This represents a $1.24 dividend on an annualized basis and a yield of 3.22%. First Interstate Bancsystem’s dividend payout ratio (DPR) is currently 42.47%.

In other First Interstate Bancsystem news, CEO Kevin P. Riley sold 5,000 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $39.36, for a total value of $196,800.00. Following the sale, the chief executive officer now directly owns 21,880 shares in the company, valued at $861,196.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter I. Wold purchased 1,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was acquired at an average price of $37.81 per share, for a total transaction of $37,810.00. Following the completion of the purchase, the director now owns 3,707 shares of the company’s stock, valued at $140,161.67. The disclosure for this purchase can be found here. 24.93% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of FIBK. Vanguard Group Inc. grew its holdings in shares of First Interstate Bancsystem by 10.5% during the second quarter. Vanguard Group Inc. now owns 3,570,278 shares of the financial services provider’s stock worth $141,419,000 after purchasing an additional 340,132 shares during the last quarter. BlackRock Inc. grew its holdings in shares of First Interstate Bancsystem by 10.1% during the second quarter. BlackRock Inc. now owns 2,732,811 shares of the financial services provider’s stock worth $108,247,000 after purchasing an additional 251,633 shares during the last quarter. FMR LLC grew its holdings in shares of First Interstate Bancsystem by 24.7% during the first quarter. FMR LLC now owns 1,671,926 shares of the financial services provider’s stock worth $66,576,000 after purchasing an additional 331,263 shares during the last quarter. Schroder Investment Management Group grew its holdings in shares of First Interstate Bancsystem by 48.0% during the second quarter. Schroder Investment Management Group now owns 677,495 shares of the financial services provider’s stock worth $26,836,000 after purchasing an additional 219,802 shares during the last quarter. Finally, Citadel Advisors LLC grew its holdings in shares of First Interstate Bancsystem by 0.7% during the second quarter. Citadel Advisors LLC now owns 652,767 shares of the financial services provider’s stock worth $25,856,000 after purchasing an additional 4,838 shares during the last quarter. Institutional investors own 52.31% 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. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.

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