First Interstate BancSystem (NASDAQ:FIBK) Price Target Increased to $25.00 by Analysts at Wells Fargo & Company

First Interstate BancSystem (NASDAQ:FIBK) had its target price boosted by Wells Fargo & Company from $24.00 to $25.00 in a research report released on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other research analysts also recently issued reports on the company. StockNews.com raised First Interstate BancSystem from a sell rating to a hold rating in a research note on Monday, June 24th. Stephens restated an overweight rating and set a $32.00 price target on shares of First Interstate BancSystem in a report on Monday, June 24th. TheStreet cut First Interstate BancSystem from a b- rating to a c+ rating in a report on Monday, March 18th. Barclays increased their price target on First Interstate BancSystem from $28.00 to $29.00 and gave the stock an equal weight rating in a report on Friday, April 26th. Finally, Keefe, Bruyette & Woods restated a market perform rating and set a $29.00 price target on shares of First Interstate BancSystem in a report on Monday, June 17th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $30.40.

First Interstate BancSystem Trading Up 2.2 %

Shares of First Interstate BancSystem stock opened at $29.25 on Tuesday. The firm has a 50-day moving average of $26.97 and a 200-day moving average of $27.14. The stock has a market cap of $3.06 billion, a PE ratio of 11.65 and a beta of 0.82. First Interstate BancSystem has a 52-week low of $20.81 and a 52-week high of $32.54. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.78.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.04. First Interstate BancSystem had a net margin of 17.76% and a return on equity of 8.51%. The business had revenue of $242.20 million during the quarter, compared to analysts’ expectations of $236.80 million. As a group, sell-side analysts forecast that First Interstate BancSystem will post 2.28 EPS for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.43%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 74.90%.

Insider Activity

In other news, Director Jonathan R. Scott sold 29,499 shares of First Interstate BancSystem stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $25.29, for a total transaction of $746,029.71. Following the completion of the sale, the director now owns 1,021,663 shares in the company, valued at approximately $25,837,857.27. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Julie A. Scott sold 209,831 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $25.29, for a total value of $5,306,625.99. Following the completion of the sale, the insider now owns 879,869 shares in the company, valued at approximately $22,251,887.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan R. Scott sold 29,499 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $25.29, for a total value of $746,029.71. Following the completion of the sale, the director now owns 1,021,663 shares of the company’s stock, valued at approximately $25,837,857.27. The disclosure for this sale can be found here. Corporate insiders own 6.90% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC lifted its position in First Interstate BancSystem by 132.8% in the 4th quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock worth $26,000 after buying an additional 530 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in First Interstate BancSystem in the 4th quarter worth approximately $39,000. Parallel Advisors LLC lifted its position in First Interstate BancSystem by 205.3% in the 4th quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock worth $39,000 after buying an additional 856 shares during the last quarter. CWM LLC lifted its position in First Interstate BancSystem by 42.1% in the 4th quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock worth $73,000 after buying an additional 702 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in First Interstate BancSystem by 28.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,378 shares of the financial services provider’s stock worth $104,000 after buying an additional 744 shares during the last quarter. Institutional investors own 88.71% of the company’s stock.

About First Interstate BancSystem

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.