First Interstate BancSystem, Inc. (NASDAQ:FIBK) Short Interest Update

First Interstate BancSystem, Inc. (NASDAQ:FIBK) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 2,510,000 shares, a growth of 7.7% from the December 15th total of 2,330,000 shares. Based on an average daily volume of 633,900 shares, the days-to-cover ratio is currently 4.0 days.

Analysts Set New Price Targets

Several analysts have recently commented on FIBK shares. Barclays raised their price target on First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. Wells Fargo & Company reduced their price objective on First Interstate BancSystem from $30.00 to $29.00 and set an “underweight” rating for the company in a report on Monday, January 6th. UBS Group began coverage on First Interstate BancSystem in a report on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 price target for the company. DA Davidson raised First Interstate BancSystem from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $32.00 to $42.00 in a report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods boosted their price target on First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, First Interstate BancSystem currently has a consensus rating of “Hold” and a consensus price target of $35.00.

First Interstate BancSystem Stock Up 0.0 %

Shares of NASDAQ:FIBK traded up $0.01 during midday trading on Monday, reaching $32.54. The company had a trading volume of 336,239 shares, compared to its average volume of 582,621. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The stock’s fifty day moving average price is $33.25 and its 200-day moving average price is $31.34. The stock has a market capitalization of $3.40 billion, a P/E ratio of 14.27 and a beta of 0.85. First Interstate BancSystem has a one year low of $24.16 and a one year high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data 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 return on equity of 7.48% and a net margin of 15.94%. During the same quarter last year, the company posted $0.70 earnings per share. Equities research analysts expect that First Interstate BancSystem will post 2.28 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 5.78%. The ex-dividend date was Monday, November 4th. First Interstate BancSystem’s dividend payout ratio (DPR) is 82.46%.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 20,220 shares of First Interstate BancSystem stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $32.78, for a total value of $662,811.60. Following the transaction, the insider now directly owns 635,069 shares in the company, valued at approximately $20,817,561.82. This trade represents a 3.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of First Interstate BancSystem 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 completion of the transaction, the insider now owns 75,387 shares in the company, valued at $2,600,851.50. This trade represents a 7.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,837 shares of company stock worth $1,839,583. 6.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Interstate BancSystem

Several hedge funds and other institutional investors have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. raised its stake in shares of First Interstate BancSystem by 38.8% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 14,065 shares of the financial services provider’s stock valued at $457,000 after purchasing an additional 3,929 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of First Interstate BancSystem by 37,734.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 141,502 shares of the financial services provider’s stock valued at $4,595,000 after purchasing an additional 141,128 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of First Interstate BancSystem by 3.1% during the third quarter. Geode Capital Management LLC now owns 1,992,873 shares of the financial services provider’s stock valued at $61,152,000 after purchasing an additional 59,367 shares in the last quarter. Barclays PLC raised its stake in shares of First Interstate BancSystem by 18.6% during the third quarter. Barclays PLC now owns 206,213 shares of the financial services provider’s stock valued at $6,326,000 after purchasing an additional 32,298 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of First Interstate BancSystem by 13.9% during 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 purchasing an additional 22,899 shares in the last quarter. Institutional investors and hedge funds 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.