First Interstate BancSystem (NASDAQ:FIBK) Cut to Sell at StockNews.com

StockNews.com lowered shares of First Interstate BancSystem (NASDAQ:FIBK) from a hold rating to a sell rating in a research note published on Wednesday morning.

A number of other equities research analysts have also recently issued reports on the company. Stephens reaffirmed an “overweight” rating and set a $36.00 target price on shares of First Interstate BancSystem in a research report on Thursday, October 10th. Barclays lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $32.00 to $30.00 in a research note on Thursday, October 31st. Wells Fargo & Company lowered First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $30.00 to $28.00 in a report on Tuesday, October 1st. Keefe, Bruyette & Woods increased their price objective on First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Finally, DA Davidson boosted their target price on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Three analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $32.50.

First Interstate BancSystem Stock Performance

Shares of FIBK opened at $34.39 on Wednesday. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 14.89 and a beta of 0.81. The company’s fifty day moving average is $31.42 and its 200-day moving average is $29.46. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem has a 12 month low of $24.16 and a 12 month high of $34.61.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share for the quarter, missing the consensus estimate 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 prior year, the business earned $0.70 EPS. Equities analysts expect that First Interstate BancSystem will post 2.28 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently announced 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 dividend yield of 5.47%. First Interstate BancSystem’s payout ratio is 82.46%.

Insiders Place Their Bets

In other First Interstate BancSystem news, Director Jonathan R. Scott sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total transaction of $222,170.00. Following the completion of the transaction, the director now owns 958,710 shares in the company, valued at $32,768,707.80. This trade represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Julie A. Scott sold 22,050 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total value of $745,290.00. Following the completion of the sale, the insider now owns 613,019 shares in the company, valued at approximately $20,720,042.20. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,770 shares of company stock worth $1,630,272 over the last 90 days. Corporate insiders own 6.90% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Several institutional investors have recently bought and sold shares of the stock. TNF LLC lifted its holdings in shares of First Interstate BancSystem by 1.5% during the third quarter. TNF LLC now owns 25,376 shares of the financial services provider’s stock valued at $812,000 after acquiring an additional 367 shares during the period. Caprock Group LLC lifted its holdings in First Interstate BancSystem by 1.7% during the 2nd quarter. Caprock Group LLC now owns 25,673 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 422 shares during the last quarter. Wrapmanager Inc. boosted its position in First Interstate BancSystem by 5.0% in the third quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider’s stock valued at $275,000 after buying an additional 429 shares in the last quarter. CWM LLC grew its stake in First Interstate BancSystem by 16.0% during the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after buying an additional 430 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of First Interstate BancSystem by 5.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider’s stock worth $311,000 after buying an additional 507 shares in 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 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.