First Interstate BancSystem (NASDAQ:FIBK) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $31.32 and traded as high as $35.92. First Interstate BancSystem shares last traded at $35.6850, with a volume of 429,925 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FIBK shares. DA Davidson lifted their target price on shares of First Interstate BancSystem from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Wall Street Zen cut shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Interstate BancSystem in a report on Monday. Barclays upped their price objective on First Interstate BancSystem from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Friday, December 19th. Finally, UBS Group raised their target price on First Interstate BancSystem from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $36.86.

First Interstate BancSystem Stock Performance

The stock has a 50-day moving average of $32.75 and a 200 day moving average of $31.32. The firm has a market capitalization of $3.67 billion, a P/E ratio of 15.06 and a beta of 0.82. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.73 and a current ratio of 0.74.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter. The firm had revenue of $250.50 million during the quarter. First Interstate BancSystem had a return on equity of 7.25% and a net margin of 17.62%. On average, research analysts anticipate that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Monday, November 10th were given a dividend of $0.47 per share. The ex-dividend date was Monday, November 10th. This represents a $1.88 annualized dividend and a yield of 5.3%. First Interstate BancSystem’s dividend payout ratio is 79.32%.

Insiders Place Their Bets

In other First Interstate BancSystem news, major shareholder Susan Scott Heyneman Trust, Su sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $32.75, for a total value of $327,500.00. Following the completion of the sale, the insider owned 224,460 shares in the company, valued at approximately $7,351,065. This trade represents a 4.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Jonathan R. Scott sold 4,800 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $31.27, for a total transaction of $150,096.00. Following the completion of the transaction, the insider directly owned 941,024 shares of the company’s stock, valued at approximately $29,425,820.48. This represents a 0.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 92,232 shares of company stock valued at $2,913,388 in the last 90 days. 8.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. First Horizon Corp bought a new position in First Interstate BancSystem in the 3rd quarter valued at $26,000. GAMMA Investing LLC raised its position in shares of First Interstate BancSystem by 186.5% during the second quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 647 shares during the last quarter. Quarry LP lifted its stake in shares of First Interstate BancSystem by 63.8% during the first quarter. Quarry LP now owns 1,155 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 450 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of First Interstate BancSystem by 139.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 862 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in First Interstate BancSystem by 1,485.1% in the third quarter. Jones Financial Companies Lllp now owns 1,601 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.