First Interstate Bancsystem Inc (FIBK) Given a $43.00 Price Target at Keefe, Bruyette & Woods
First Interstate Bancsystem Inc (NASDAQ:FIBK) received a $43.00 price target from investment analysts at Keefe, Bruyette & Woods in a report released on Saturday. The firm currently has a “hold” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 20.45% from the company’s previous close.
Separately, Zacks Investment Research downgraded First Interstate Bancsystem from a “buy” rating to a “hold” rating in a research note on Wednesday, February 1st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. First Interstate Bancsystem has an average rating of “Hold” and a consensus price target of $40.33.
Shares of First Interstate Bancsystem (NASDAQ:FIBK) opened at 35.70 on Friday. The stock has a market capitalization of $1.61 billion, a P/E ratio of 16.30 and a beta of 1.03. First Interstate Bancsystem has a 12-month low of $26.45 and a 12-month high of $45.35. The stock has a 50 day moving average price of $38.00 and a 200 day moving average price of $40.05.
First Interstate Bancsystem (NASDAQ:FIBK) last posted its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.02. The firm had revenue of $98 million during the quarter, compared to analyst estimates of $105.22 million. First Interstate Bancsystem had a return on equity of 9.84% and a net margin of 22.52%. On average, equities analysts anticipate that First Interstate Bancsystem will post $2.25 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 12th. Shareholders of record on Tuesday, May 2nd were issued a $0.24 dividend. The ex-dividend date was Friday, April 28th. This represents a $0.96 dividend on an annualized basis and a yield of 2.69%. First Interstate Bancsystem’s dividend payout ratio is currently 45.07%.
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In other First Interstate Bancsystem news, CEO Kevin P. Riley bought 6,918 shares of the business’s stock in a transaction on Monday, March 13th. The shares were purchased at an average price of $42.78 per share, with a total value of $295,952.04. Following the completion of the acquisition, the chief executive officer now directly owns 34,920 shares of the company’s stock, valued at approximately $1,493,877.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 38.22% of the company’s stock.
A number of institutional investors have recently modified their holdings of FIBK. Russell Investments Group Ltd. acquired a new position in shares of First Interstate Bancsystem during the fourth quarter worth about $4,392,000. Bessemer Group Inc. boosted its position in shares of First Interstate Bancsystem by 24.8% in the fourth quarter. Bessemer Group Inc. now owns 32,710 shares of the financial services provider’s stock worth $1,392,000 after buying an additional 6,510 shares in the last quarter. USA Financial Portformulas Corp acquired a new position in shares of First Interstate Bancsystem during the fourth quarter worth about $339,000. Dimensional Fund Advisors LP boosted its position in shares of First Interstate Bancsystem by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,683,753 shares of the financial services provider’s stock worth $71,644,000 after buying an additional 35,058 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of First Interstate Bancsystem during the fourth quarter worth about $592,000. 34.08% of the stock is currently owned by hedge funds and other institutional investors.
About First Interstate Bancsystem
First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company operates through community banking segment.
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