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

Key Points

• First Interstate BancSystem has received a consensus rating of "Hold" from analysts, with one rating it a sell, two as hold, and three as buy.
• The company reported a quarterly EPS of $0.69, exceeding analysts' expectations of $0.57, although revenue fell short of forecasts at $248.30 million.
• Insider sales have occurred recently, with the major shareholder selling 55,000 shares and a director selling 11,818 shares, indicating a decrease in their ownership positions.

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) have been given a consensus recommendation of "Hold" by the six ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $35.4286.

A number of research analysts have recently commented on the company. Wells Fargo & Company increased their price target on First Interstate BancSystem from $25.00 to $28.00 and gave the company an "underweight" rating in a research note on Thursday, July 10th. Barclays upgraded First Interstate BancSystem from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $28.00 to $32.00 in a report on Tuesday, July 8th. Wall Street Zen lowered shares of First Interstate BancSystem from a "hold" rating to a "sell" rating in a report on Monday, August 11th. Finally, Keefe, Bruyette & Woods upgraded shares of First Interstate BancSystem from a "hold" rating to a "moderate buy" rating and set a $32.00 price target for the company in a research report on Monday, June 23rd.

Insider Activity

In other First Interstate BancSystem news, major shareholder Susan Scott Heyneman Trust, Su sold 55,000 shares of the company's 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 sale, the insider owned 529,256 shares in the company, valued at approximately $14,745,072.16. The trade was a 9.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John M. Heyneman, Jr. sold 11,818 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $30.18, for a total value of $356,667.24. Following the transaction, the director owned 5,224 shares in the company, valued at $157,660.32. The trade was a 69.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 121,818 shares of company stock worth $3,600,017 over the last ninety days. Company insiders own 8.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC purchased a new position in First Interstate BancSystem during the fourth quarter worth about $26,000. GAMMA Investing LLC grew its holdings in shares of First Interstate BancSystem by 186.5% in the second quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 647 shares in the last quarter. JNBA Financial Advisors purchased a new stake in shares of First Interstate BancSystem during the first quarter valued at approximately $29,000. Quarry LP lifted its holdings in 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 period. Finally, EverSource Wealth Advisors LLC grew its stake in First Interstate BancSystem by 139.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 862 shares during the period. 88.71% of the stock is owned by institutional investors and hedge funds.

First Interstate BancSystem Price Performance

Shares of First Interstate BancSystem stock traded up $0.36 during trading on Friday, reaching $32.48. 731,992 shares of the company's stock were exchanged, compared to its average volume of 743,386. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.74 and a current ratio of 0.75. First Interstate BancSystem has a 1-year low of $22.95 and a 1-year high of $36.77. The company has a market cap of $3.41 billion, a P/E ratio of 14.63 and a beta of 0.80. The firm's 50-day moving average price is $30.76 and its 200 day moving average price is $28.67.

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

First Interstate BancSystem Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Monday, August 11th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 5.8%. The ex-dividend date of this dividend was Monday, August 11th. First Interstate BancSystem's dividend payout ratio (DPR) 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.