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

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has received a consensus recommendation of “Hold” from the six brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $33.17.

FIBK has been the subject of several recent research reports. Piper Sandler reissued an “overweight” rating and issued a $38.00 price target on shares of First Interstate BancSystem in a research report on Monday, August 26th. DA Davidson increased their price target on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Wells Fargo & Company lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $30.00 to $28.00 in a research report on Tuesday, October 1st. StockNews.com lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

Institutional Trading of First Interstate BancSystem

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its stake in shares of First Interstate BancSystem by 235.6% during the first quarter. BNP Paribas Financial Markets now owns 78,311 shares of the financial services provider’s stock valued at $2,131,000 after purchasing an additional 54,973 shares during the last quarter. Jennison Associates LLC boosted its stake in First Interstate BancSystem by 9.6% in the first quarter. Jennison Associates LLC now owns 850,767 shares of the financial services provider’s stock valued at $23,149,000 after acquiring an additional 74,434 shares during the last quarter. Sciencast Management LP bought a new position in First Interstate BancSystem in the first quarter valued at approximately $705,000. Dimensional Fund Advisors LP boosted its stake in 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 valued at $127,204,000 after acquiring an additional 367,212 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new position in First Interstate BancSystem in the first quarter valued at approximately $1,597,000. 88.71% of the stock is owned by institutional investors.

First Interstate BancSystem Stock Up 2.7 %

Shares of FIBK opened at $32.50 on Thursday. The company has a 50-day simple moving average of $29.99 and a 200-day simple moving average of $28.34. The firm has a market capitalization of $3.40 billion, a P/E ratio of 12.95 and a beta of 0.81. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.79 and a current ratio of 0.79. First Interstate BancSystem has a 52 week low of $20.81 and a 52 week high of $33.00.

First Interstate BancSystem (NASDAQ:FIBK) last posted 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. First Interstate BancSystem had a net margin of 17.22% and a return on equity of 8.19%. The firm had revenue of $244.30 million during the quarter, compared to analyst estimates of $246.07 million. During the same quarter in the prior year, the business posted $0.66 earnings per share. On average, equities research analysts expect that First Interstate BancSystem will post 2.34 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, August 5th. This represents a $1.88 annualized dividend and a dividend yield of 5.78%. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 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.