First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives Consensus Rating of “Hold” from Analysts

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have been assigned an average rating of “Hold” from the seven analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $36.14.

A number of research analysts have recently weighed in on FIBK shares. StockNews.com upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Monday, March 3rd. Keefe, Bruyette & Woods raised their target price on First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. DA Davidson reiterated a “buy” rating and set a $42.00 price target on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Stephens lowered their price objective on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Barclays boosted their target price on First Interstate BancSystem from $30.00 to $31.00 and gave the stock an “underweight” rating in a report on Thursday, December 5th.

First Interstate BancSystem Stock Performance

Shares of FIBK stock opened at $28.63 on Friday. First Interstate BancSystem has a fifty-two week low of $24.16 and a fifty-two week high of $36.77. The stock’s 50-day moving average is $31.23 and its two-hundred day moving average is $31.75. 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 firm has a market cap of $2.99 billion, a P/E ratio of 13.07 and a beta of 0.84.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. Analysts predict that First Interstate BancSystem will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.88 annualized dividend and a dividend yield of 6.57%. First Interstate BancSystem’s dividend payout ratio is presently 85.84%.

Insider Activity at First Interstate BancSystem

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $32.56, for a total transaction of $43,467.60. Following the transaction, the director now owns 1,414,886 shares of the company’s stock, valued at approximately $46,068,688.16. The trade was a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.90% of the stock is owned by corporate insiders.

Institutional Trading of First Interstate BancSystem

Several hedge funds and other institutional investors have recently bought and sold shares of FIBK. BNP Paribas Financial Markets lifted its stake in shares of First Interstate BancSystem by 97.0% in the third quarter. BNP Paribas Financial Markets now owns 31,779 shares of the financial services provider’s stock valued at $975,000 after buying an additional 15,649 shares during the period. Jane Street Group LLC raised its holdings in First Interstate BancSystem by 13.9% in the 3rd quarter. Jane Street Group LLC now owns 188,084 shares of the financial services provider’s stock valued at $5,770,000 after acquiring an additional 22,899 shares in the last quarter. Barclays PLC raised its holdings in First Interstate BancSystem by 18.6% in the 3rd quarter. Barclays PLC now owns 206,213 shares of the financial services provider’s stock valued at $6,326,000 after acquiring an additional 32,298 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of First Interstate BancSystem by 37,734.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 141,502 shares of the financial services provider’s stock worth $4,595,000 after acquiring an additional 141,128 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of First Interstate BancSystem by 73.9% during the 4th quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider’s stock worth $50,020,000 after purchasing an additional 654,688 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

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.