First Interstate BancSystem (NASDAQ:FIBK) Earns Neutral Rating from Analysts at UBS Group

UBS Group assumed coverage on shares of First Interstate BancSystem (NASDAQ:FIBK) in a research report sent to investors on Tuesday, Marketbeat reports. The brokerage issued a neutral rating and a $35.00 target price on the financial services provider’s stock.

A number of other analysts have also weighed in on FIBK. DA Davidson upgraded shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $32.00 to $42.00 in a research note on Tuesday, November 26th. Barclays lifted their price objective on First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research note on Thursday, December 5th. StockNews.com upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Keefe, Bruyette & Woods lifted their price target on First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler lowered their price objective on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, First Interstate BancSystem currently has an average rating of “Hold” and a consensus price target of $35.14.

First Interstate BancSystem Stock Down 1.0 %

First Interstate BancSystem stock opened at $31.52 on Tuesday. The business’s 50-day simple moving average is $33.05 and its two-hundred day simple moving average is $30.42. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market cap of $3.29 billion, a PE ratio of 13.82 and a beta of 0.84. First Interstate BancSystem has a fifty-two week low of $24.16 and a fifty-two week high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same period in the previous year, the business posted $0.70 earnings per share. Equities analysts anticipate that First Interstate BancSystem will post 2.28 EPS for the current year.

First Interstate BancSystem Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a $0.47 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.88 dividend on an annualized basis and a yield of 5.96%. First Interstate BancSystem’s dividend payout ratio is currently 82.46%.

Insider Buying and Selling

In related news, major shareholder Julie A. Scott sold 20,220 shares of First Interstate BancSystem stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $32.78, for a total value of $662,811.60. Following the sale, the insider now directly owns 635,069 shares in the company, valued at approximately $20,817,561.82. The trade was a 3.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $34.50, for a total value of $209,311.50. Following the transaction, the insider now directly owns 75,387 shares of the company’s stock, valued at $2,600,851.50. The trade was a 7.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,837 shares of company stock valued at $1,839,583. 6.90% of the stock is owned by corporate insiders.

Institutional Trading of First Interstate BancSystem

Several large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its holdings in First Interstate BancSystem by 97.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 31,779 shares of the financial services provider’s stock valued at $975,000 after purchasing an additional 15,649 shares in the last quarter. Jane Street Group LLC raised its position in shares of First Interstate BancSystem by 13.9% in the third quarter. Jane Street Group LLC now owns 188,084 shares of the financial services provider’s stock valued at $5,770,000 after buying an additional 22,899 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of First Interstate BancSystem by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider’s stock worth $127,204,000 after buying an additional 367,212 shares in the last quarter. Empower Advisory Group LLC boosted its position in First Interstate BancSystem by 4.8% during the third quarter. Empower Advisory Group LLC now owns 466,687 shares of the financial services provider’s stock worth $14,318,000 after acquiring an additional 21,191 shares during the last quarter. Finally, Versor Investments LP purchased a new stake in First Interstate BancSystem during the 3rd quarter valued at about $914,000. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

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.