First Interstate Bancsystem Inc (NASDAQ:FIBK) has been given a consensus recommendation of “Hold” by the seven brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $45.33.
A number of brokerages have weighed in on FIBK. Piper Jaffray Companies reaffirmed a “buy” rating on shares of First Interstate Bancsystem in a research report on Wednesday, January 31st. Zacks Investment Research raised First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Wednesday, November 1st. Barclays lifted their target price on First Interstate Bancsystem from $43.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $45.00 target price on shares of First Interstate Bancsystem in a research report on Friday, December 22nd.
Shares of First Interstate Bancsystem (NASDAQ FIBK) opened at $39.25 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $2,294.90, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 1.52 and a beta of 1.11. First Interstate Bancsystem has a 1 year low of $33.33 and a 1 year high of $45.35.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Monday, February 12th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.85%. This is a positive change from First Interstate Bancsystem’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, February 9th. First Interstate Bancsystem’s payout ratio is presently 46.83%.
In related news, CEO Kevin P. Riley purchased 800 shares of First Interstate Bancsystem stock in a transaction dated Monday, February 5th. The stock was purchased at an average cost of $41.34 per share, with a total value of $33,072.00. Following the transaction, the chief executive officer now owns 28,349 shares in the company, valued at approximately $1,171,947.66. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jonathan R. Scott sold 25,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $37.33, for a total value of $933,250.00. Following the completion of the transaction, the director now directly owns 5,556 shares of the company’s stock, valued at $207,405.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,925 shares of company stock valued at $3,014,963. Corporate insiders own 38.22% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FIBK. SG Americas Securities LLC bought a new position in shares of First Interstate Bancsystem in the 3rd quarter worth $105,000. Brandywine Global Investment Management LLC bought a new position in shares of First Interstate Bancsystem in the 2nd quarter worth $142,000. Stifel Financial Corp bought a new position in shares of First Interstate Bancsystem in the 3rd quarter worth $200,000. UBS Asset Management Americas Inc. bought a new position in shares of First Interstate Bancsystem in the 2nd quarter worth $213,000. Finally, Opus Capital Group LLC bought a new position in shares of First Interstate Bancsystem in the 4th quarter worth $223,000. 45.54% of the stock is 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 also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.
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