Barclays Boosts First Interstate BancSystem (NASDAQ:FIBK) Price Target to $32.00

First Interstate BancSystem (NASDAQ:FIBK) had its price objective raised by Barclays from $31.00 to $32.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

FIBK has been the subject of a number of other research reports. Keefe, Bruyette & Woods boosted their target price on First Interstate BancSystem from $29.00 to $31.00 and gave the stock a market perform rating in a research report on Monday, July 29th. Piper Sandler restated an overweight rating and set a $38.00 target price on shares of First Interstate BancSystem in a research report on Monday, August 26th. StockNews.com cut shares of First Interstate BancSystem from a hold rating to a sell rating in a research report on Friday, September 20th. Stephens increased their price objective on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company an overweight rating in a report on Monday, July 29th. Finally, Wells Fargo & Company lifted their target price on shares of First Interstate BancSystem from $25.00 to $30.00 and gave the stock an equal weight rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, First Interstate BancSystem presently has a consensus rating of Hold and a consensus price target of $33.50.

First Interstate BancSystem Price Performance

Shares of FIBK stock opened at $30.37 on Friday. The stock’s fifty day moving average is $30.05 and its 200-day moving average is $27.97. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.79 and a current ratio of 0.79. First Interstate BancSystem has a 52 week low of $20.81 and a 52 week high of $33.00. The stock has a market capitalization of $3.18 billion, a PE ratio of 12.10 and a beta of 0.82.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. First Interstate BancSystem had a net margin of 17.22% and a return on equity of 8.19%. The business had revenue of $244.30 million during the quarter, compared to analyst estimates of $246.07 million. During the same quarter last year, the business posted $0.66 earnings per share. Equities research analysts expect that First Interstate BancSystem will post 2.34 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.19%. First Interstate BancSystem’s dividend payout ratio is 74.90%.

Institutional Trading of First Interstate BancSystem

Large investors have recently made changes to their positions in the company. Norges Bank acquired a new position in First Interstate BancSystem in the fourth quarter valued at about $26,584,000. Vanguard Group Inc. increased its stake in First Interstate BancSystem by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 9,180,595 shares of the financial services provider’s stock worth $282,303,000 after purchasing an additional 533,293 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in First Interstate BancSystem by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider’s stock worth $127,204,000 after purchasing an additional 367,212 shares in the last quarter. Wellington Management Group LLP raised its holdings in First Interstate BancSystem by 5.0% during the 4th quarter. Wellington Management Group LLP now owns 2,970,727 shares of the financial services provider’s stock worth $91,350,000 after buying an additional 142,069 shares during the period. Finally, Hantz Financial Services Inc. bought a new position in First Interstate BancSystem in the second quarter valued at approximately $3,003,000. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Company Profile

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.