First Interstate Bancsystem Upgraded by Keefe, Bruyette & Woods to Outperform (FIBK)
First Interstate Bancsystem (NASDAQ:FIBK) was upgraded by equities researchers at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued on Monday, Analyst Ratings Net reports. The firm currently has a $32.00 price target on the stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 28.10% from the stock’s previous close.
Shares of First Interstate Bancsystem (NASDAQ:FIBK) traded down 2.31% during mid-day trading on Monday, hitting $24.98. 140,280 shares of the company’s stock traded hands. First Interstate Bancsystem has a one year low of $19.52 and a one year high of $29.53. The stock has a 50-day moving average of $26.43 and a 200-day moving average of $26.47. The company has a market cap of $1.109 billion and a P/E ratio of 12.92.
First Interstate Bancsystem (NASDAQ:FIBK) last released its earnings data on Wednesday, April 23rd. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.05. Analysts expect that First Interstate Bancsystem will post $1.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, May 19th. Shareholders of record on Thursday, May 8th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Tuesday, May 6th.
FIBK has been the subject of a number of other recent research reports. Analysts at Barclays upgraded shares of First Interstate Bancsystem from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, April 9th. They now have a $32.00 price target on the stock, up previously from $31.00. Separately, analysts at Sterne Agee upgraded shares of First Interstate Bancsystem from a “neutral” rating to a “buy” rating in a research note on Monday, March 24th. They now have a $31.50 price target on the stock, up previously from $28.50. Finally, analysts at Zacks downgraded shares of First Interstate Bancsystem from an “outperform” rating to a “neutral” rating in a research note on Friday, March 7th. They now have a $30.80 price target on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $30.22.
In other First Interstate Bancsystem news, Director Jonathan Scott unloaded 20,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $24.77, for a total value of $495,400.00. Following the completion of the sale, the director now directly owns 3,359 shares of the company’s stock, valued at approximately $83,202. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
First Interstate BancSystem, Inc is a bank holding company. The Company through its wholly owned bank subsidiary, First Interstate Bank (NASDAQ:FIBK), it delivers a range of banking products and services to individuals, businesses, municipalities and other entities throughout Montana, Wyoming and western South Dakota.
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