First Interstate BancSystem, Inc. (NASDAQ:FIBK) – Equities research analysts at DA Davidson issued their Q1 2018 EPS estimates for First Interstate BancSystem in a research note issued on Tuesday. DA Davidson analyst J. Rulis expects that the financial services provider will post earnings per share of $0.66 for the quarter. DA Davidson also issued estimates for First Interstate BancSystem’s Q2 2018 earnings at $0.65 EPS, Q3 2018 earnings at $0.63 EPS and Q4 2018 earnings at $0.61 EPS.
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A number of other equities analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of First Interstate BancSystem from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Wednesday. Barclays PLC set a $43.00 price target on shares of First Interstate BancSystem and gave the stock a “buy” rating in a research report on Wednesday, October 11th. ValuEngine cut shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Finally, BidaskClub cut shares of First Interstate BancSystem from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $43.25.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Mutual of America Capital Management LLC lifted its position in First Interstate BancSystem by 1.8% in the 3rd quarter. Mutual of America Capital Management LLC now owns 180,609 shares of the financial services provider’s stock valued at $6,908,000 after acquiring an additional 3,196 shares in the last quarter. Kennedy Capital Management Inc. bought a new stake in First Interstate BancSystem in the 2nd quarter valued at $2,020,000. CS Mckee LP bought a new stake in First Interstate BancSystem in the 2nd quarter valued at $958,000. LSV Asset Management lifted its position in First Interstate BancSystem by 13.2% in the 2nd quarter. LSV Asset Management now owns 618,585 shares of the financial services provider’s stock valued at $23,011,000 after acquiring an additional 71,900 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in First Interstate BancSystem by 196.5% in the 2nd quarter. First Trust Advisors LP now owns 117,541 shares of the financial services provider’s stock valued at $4,373,000 after acquiring an additional 77,901 shares in the last quarter. 44.97% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Ross E. Leckie sold 1,500 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $38.85, for a total value of $58,275.00. Following the sale, the director now directly owns 23,028 shares of the company’s stock, valued at approximately $894,637.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 2,822 shares of company stock worth $104,709 over the last ninety days. 38.22% of the stock is currently owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Tuesday, October 31st will be given a $0.24 dividend. The ex-dividend date is Monday, October 30th. This represents a $0.96 annualized dividend and a yield of 2.46%. First Interstate BancSystem’s dividend payout ratio is currently 48.24%.
About First Interstate BancSystem
First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.
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