Analysts Set First Interstate BancSystem, Inc. (NASDAQ:FIBK) PT at $33.33

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have received a consensus rating of “Hold” from the six brokerages that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $33.33.

A number of brokerages have weighed in on FIBK. DA Davidson increased their target price on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Wells Fargo & Company boosted their price objective on First Interstate BancSystem from $25.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods increased their price objective on First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. StockNews.com downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Friday, September 20th. Finally, Stephens increased their price target on First Interstate BancSystem from $32.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th.

Institutional Trading of First Interstate BancSystem

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of First Interstate BancSystem by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 9,180,595 shares of the financial services provider’s stock valued at $282,303,000 after purchasing an additional 533,293 shares during the period. Dimensional Fund Advisors LP increased its position in shares of First Interstate BancSystem by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider’s stock worth $127,204,000 after acquiring an additional 367,212 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of First Interstate BancSystem by 5.0% during the fourth quarter. Wellington Management Group LLP now owns 2,970,727 shares of the financial services provider’s stock valued at $91,350,000 after acquiring an additional 142,069 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of First Interstate BancSystem by 1.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,051,632 shares of the financial services provider’s stock valued at $56,974,000 after acquiring an additional 32,348 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of First Interstate BancSystem by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 887,559 shares of the financial services provider’s stock valued at $24,648,000 after acquiring an additional 11,493 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors.

First Interstate BancSystem Stock Performance

First Interstate BancSystem stock opened at $30.42 on Friday. First Interstate BancSystem has a 12 month low of $20.81 and a 12 month high of $33.00. The stock’s 50-day moving average is $30.13 and its 200-day moving average is $27.90. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 12.12 and a beta of 0.82. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.79 and a quick ratio of 0.79.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.03. The firm had revenue of $244.30 million for the quarter, compared to the consensus estimate of $246.07 million. First Interstate BancSystem had a net margin of 17.22% and a return on equity of 8.19%. During the same quarter in the previous year, the firm posted $0.66 EPS. Equities analysts anticipate that First Interstate BancSystem will post 2.34 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 6.18%. The ex-dividend date was Monday, August 5th. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 74.90%.

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.