First Interstate BancSystem, Inc. (NASDAQ:FIBK) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• First Interstate BancSystem, Inc. has a consensus rating of "Hold" from six analysts, with one sell rating, two hold ratings, and three buy ratings.
• The company recently reported $0.69 EPS for the quarter, surpassing analysts' estimates of $0.57, along with a revenue of $248.30 million.
• First Interstate BancSystem announced a quarterly dividend of $0.47 to be paid on August 21st, reflecting a dividend yield of 6.3%.

First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) has earned a consensus rating of "Hold" from the six research firms that are covering the company, Marketbeat reports. One research analyst has 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 covered the stock in the last year is $35.4286.

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of First Interstate BancSystem from $25.00 to $28.00 and gave the stock an "underweight" rating in a research report on Thursday, July 10th. Wall Street Zen cut First Interstate BancSystem from a "hold" rating to a "sell" rating in a report on Monday. Barclays upgraded First Interstate BancSystem from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $28.00 to $32.00 in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods upgraded First Interstate BancSystem from a "hold" rating to a "moderate buy" rating and set a $32.00 price objective for the company in a research note on Monday, June 23rd.

Insider Activity at First Interstate BancSystem

In related news, major shareholder Susan Scott Heyneman Trust, Su sold 55,000 shares of First Interstate BancSystem stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $27.86, for a total value of $1,532,300.00. Following the completion of the transaction, the insider directly owned 529,256 shares of the company's stock, valued at $14,745,072.16. The trade was a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 8.20% of the company's stock.

Hedge Funds Weigh In On First Interstate BancSystem

A number of institutional investors have recently modified their holdings of FIBK. Wood Tarver Financial Group LLC acquired a new stake in shares of First Interstate BancSystem in the fourth quarter valued at approximately $26,000. JNBA Financial Advisors bought a new position in First Interstate BancSystem in the 1st quarter valued at $29,000. GAMMA Investing LLC increased its stake in shares of First Interstate BancSystem by 186.5% in the 2nd quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider's stock valued at $29,000 after buying an additional 647 shares during the period. Quarry LP raised its position in shares of First Interstate BancSystem by 63.8% during the first quarter. Quarry LP now owns 1,155 shares of the financial services provider's stock worth $33,000 after acquiring an additional 450 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of First Interstate BancSystem by 139.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 862 shares during the period. 88.71% of the stock is owned by institutional investors.

First Interstate BancSystem Stock Performance

Shares of NASDAQ FIBK traded down $0.57 during trading hours on Wednesday, reaching $30.04. The stock had a trading volume of 941,875 shares, compared to its average volume of 832,641. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 13.53 and a beta of 0.83. First Interstate BancSystem has a twelve month low of $22.95 and a twelve month high of $36.77. The business's fifty day moving average is $29.20 and its two-hundred day moving average is $28.77. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.75 and a quick ratio of 0.74.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.12. First Interstate BancSystem had a net margin of 16.04% and a return on equity of 6.82%. The company had revenue of $248.30 million during the quarter, compared to analysts' expectations of $253.73 million. During the same quarter in the prior year, the company posted $0.58 EPS. The business's revenue was up 1.6% on a year-over-year basis. As a group, research analysts expect that First Interstate BancSystem will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Shareholders of record on Monday, August 11th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $1.88 dividend on an annualized basis and a yield of 6.3%. First Interstate BancSystem's payout ratio is currently 84.68%.

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.