First Interstate BancSystem (NASDAQ:FIBK) shares reached a new 52-week high and low during mid-day trading on Monday . The company traded as low as $43.70 and last traded at $43.65, with a volume of 8053 shares changing hands. The stock had previously closed at $43.20.
FIBK has been the subject of a number of analyst reports. Piper Jaffray Companies reissued a “buy” rating on shares of First Interstate BancSystem in a research note on Wednesday, January 31st. Zacks Investment Research lowered shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Sandler O’Neill reissued a “buy” rating and set a $46.00 target price on shares of First Interstate BancSystem in a research note on Thursday, March 29th. BidaskClub raised shares of First Interstate BancSystem from a “hold” rating to a “buy” rating in a research note on Wednesday, April 4th. Finally, FIG Partners raised shares of First Interstate BancSystem from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 26th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $45.00.
The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market cap of $2.44 billion, a PE ratio of 21.79, a PEG ratio of 1.63 and a beta of 1.10.
First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Wednesday, April 25th. The financial services provider reported $0.68 EPS for the quarter, hitting analysts’ consensus estimates of $0.68. First Interstate BancSystem had a net margin of 21.49% and a return on equity of 9.50%. The company had revenue of $135.00 million for the quarter, compared to the consensus estimate of $136.17 million. research analysts anticipate that First Interstate BancSystem will post 2.93 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 24th. Shareholders of record on Monday, May 14th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, May 11th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.56%. First Interstate BancSystem’s dividend payout ratio (DPR) is 55.72%.
In related news, Director Jonathan R. Scott sold 15,244 shares of the business’s stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $41.12, for a total value of $626,833.28. Following the sale, the director now directly owns 10,303 shares in the company, valued at approximately $423,659.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Thomas W. Scott sold 250,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $39.50, for a total transaction of $9,875,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 279,416 shares of company stock worth $11,075,235 over the last 90 days. 40.23% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of First Interstate BancSystem in the 1st quarter worth approximately $107,000. Envestnet Asset Management Inc. raised its holdings in shares of First Interstate BancSystem by 68.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 4,507 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 1,829 shares in the last quarter. FSI Group LLC raised its holdings in shares of First Interstate BancSystem by 168.3% in the 1st quarter. FSI Group LLC now owns 5,113 shares of the financial services provider’s stock worth $202,000 after purchasing an additional 3,207 shares in the last quarter. Xact Kapitalforvaltning AB bought a new stake in shares of First Interstate BancSystem in the 4th quarter worth approximately $217,000. Finally, Stevens Capital Management LP bought a new stake in shares of First Interstate BancSystem in the 1st quarter worth approximately $219,000. Institutional investors and hedge funds own 46.89% 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. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.
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