First Interstate BancSystem (NASDAQ:FIBK) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

First Interstate BancSystem, Inc. (NASDAQ:FIBK)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $33.68 and traded as high as $37.54. First Interstate BancSystem shares last traded at $35.77, with a volume of 976,946 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on FIBK. UBS Group reaffirmed a “neutral” rating and set a $38.00 price target on shares of First Interstate BancSystem in a research report on Wednesday, February 4th. Wall Street Zen cut shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Sunday, February 15th. Piper Sandler upped their price target on shares of First Interstate BancSystem from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Barclays lowered their price objective on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Friday, January 30th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of First Interstate BancSystem from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, First Interstate BancSystem presently has an average rating of “Hold” and a consensus target price of $38.17.

First Interstate BancSystem Trading Down 4.5%

The company has a fifty day moving average of $36.72 and a two-hundred day moving average of $33.68. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $3.68 billion, a price-to-earnings ratio of 12.13 and a beta of 0.80.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.44. First Interstate BancSystem had a net margin of 17.62% and a return on equity of 8.83%. The company had revenue of $205.10 million during the quarter, compared to the consensus estimate of $256.89 million. During the same quarter in the prior year, the firm earned $0.50 EPS. First Interstate BancSystem’s quarterly revenue was up 19.8% on a year-over-year basis. On average, research analysts expect that First Interstate BancSystem, Inc. will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Tuesday, February 10th were given a $0.47 dividend. The ex-dividend date was Tuesday, February 10th. This represents a $1.88 dividend on an annualized basis and a yield of 5.3%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 63.73%.

Insider Activity at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Susan Scott Heyneman Trust, Su sold 10,000 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $32.75, for a total value of $327,500.00. Following the completion of the transaction, the insider owned 224,460 shares in the company, valued at approximately $7,351,065. This represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Jonathan R. Scott sold 3,173 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $36.20, for a total value of $114,862.60. Following the completion of the sale, the insider directly owned 937,851 shares of the company’s stock, valued at approximately $33,950,206.20. This trade represents a 0.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 15,000 shares of company stock worth $509,815 in the last quarter. 8.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Interstate BancSystem

A number of large investors have recently made changes to their positions in the stock. Eurizon Capital SGR S.p.A. acquired a new stake in shares of First Interstate BancSystem in the fourth quarter valued at about $25,000. First Horizon Corp acquired a new position in First Interstate BancSystem during the third quarter worth about $26,000. Kestra Advisory Services LLC purchased a new position in First Interstate BancSystem in the fourth quarter valued at about $29,000. EverSource Wealth Advisors LLC lifted its position in shares of First Interstate BancSystem by 139.3% during the 2nd 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 stake in shares of First Interstate BancSystem by 1,485.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,601 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

About First Interstate BancSystem

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.