Brokerages Set First Interstate BancSystem, Inc. (NASDAQ:FIBK) Price Target at $37.33

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have been assigned a consensus rating of “Hold” from the eight research firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $37.3333.

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $37.00 target price (down from $38.00) on shares of First Interstate BancSystem in a research report on Friday, May 1st. Stephens lowered First Interstate BancSystem from an “overweight” rating to an “equal weight” rating in a research report on Thursday, February 5th. DA Davidson upped their target price on First Interstate BancSystem from $39.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Weiss Ratings raised First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Finally, Barclays cut their target price on First Interstate BancSystem from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Friday, January 30th.

First Interstate BancSystem Stock Performance

First Interstate BancSystem stock opened at $34.36 on Friday. The stock’s 50 day moving average price is $34.09 and its 200 day moving average price is $34.74. The firm has a market capitalization of $3.34 billion, a PE ratio of 11.19 and a beta of 0.77. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. First Interstate BancSystem has a one year low of $25.81 and a one year high of $39.26.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. The firm had revenue of $5.10 million for the quarter, compared to analyst estimates of $242.78 million. First Interstate BancSystem had a return on equity of 9.13% and a net margin of 22.64%.During the same period in the previous year, the company posted $0.49 EPS. As a group, sell-side analysts expect that First Interstate BancSystem will post 2.66 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 21st. Shareholders of record on Monday, May 11th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Monday, May 11th. First Interstate BancSystem’s dividend payout ratio is presently 61.24%.

Hedge Funds Weigh In On First Interstate BancSystem

Institutional investors have recently made changes to their positions in the business. Eurizon Capital SGR S.p.A. bought a new position in First Interstate BancSystem during the 4th quarter worth $25,000. First Horizon Corp bought a new position in First Interstate BancSystem during the 3rd quarter worth $26,000. Kestra Advisory Services LLC bought a new position in First Interstate BancSystem during the 4th quarter worth $29,000. EverSource Wealth Advisors LLC grew its stake in First Interstate BancSystem by 139.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock worth $43,000 after buying an additional 862 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in First Interstate BancSystem by 49.6% during the 4th quarter. GAMMA Investing LLC now owns 1,556 shares of the financial services provider’s stock worth $54,000 after buying an additional 516 shares during the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.