First Interstate BancSystem, Inc. (NASDAQ:FIBK) Given Consensus Recommendation of "Hold" by 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 received an average rating of "Hold" from the six analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $35.4286.

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

Insider Transactions 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 transaction, the insider owned 529,256 shares of the company's stock, valued at approximately $14,745,072.16. This trade represents a 9.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John M. Heyneman, Jr. sold 11,818 shares of First Interstate BancSystem stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $30.18, for a total value of $356,667.24. Following the completion of the transaction, the director directly owned 5,224 shares in the company, valued at $157,660.32. This represents a 69.35% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,818 shares of company stock worth $3,600,017. 8.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Interstate BancSystem

A number of institutional investors have recently bought and sold shares of FIBK. Northern Trust Corp increased its stake in First Interstate BancSystem by 2.2% in the 4th quarter. Northern Trust Corp now owns 856,674 shares of the financial services provider's stock worth $27,816,000 after purchasing an additional 18,366 shares in the last quarter. Algert Global LLC purchased a new position in First Interstate BancSystem in the 4th quarter worth about $277,000. Ameriprise Financial Inc. increased its stake in First Interstate BancSystem by 39.7% in the 4th quarter. Ameriprise Financial Inc. now owns 62,928 shares of the financial services provider's stock worth $2,043,000 after purchasing an additional 17,879 shares in the last quarter. Captrust Financial Advisors purchased a new position in First Interstate BancSystem in the 4th quarter worth about $208,000. Finally, Janus Henderson Group PLC boosted its position in First Interstate BancSystem by 15.2% during the 4th quarter. Janus Henderson Group PLC now owns 44,817 shares of the financial services provider's stock worth $1,455,000 after acquiring an additional 5,900 shares during the period. Hedge funds and other institutional investors own 88.71% of the company's stock.

First Interstate BancSystem Price Performance

Shares of FIBK opened at $32.55 on Friday. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 14.66 and a beta of 0.80. 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 one year low of $22.95 and a one year high of $36.77. The stock's fifty day moving average is $30.57 and its 200-day moving average is $28.62.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.12. The company 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%.The company's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company earned $0.58 earnings per share. Equities analysts anticipate that First Interstate BancSystem will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

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

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