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

Key Points

• Analyst sentiment is mixed: First Interstate BancSystem has an average "Hold" rating from eight brokerages, with two sells, four holds, and two buys. The average 12-month price target is $37.00.
• Insider activity included a sale: Major shareholder Jonathan R. Scott sold 12,892 shares at an average price of $35.58, reducing his position by 1.47%. Insiders still own about 8% of the company.
• The stock offers a sizable dividend: First Interstate BancSystem recently paid a quarterly dividend of $0.47 per share, or $1.88 annually, which equates to a 5.3% yield. The payout ratio is currently 61.24%.

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) have been assigned an average rating of "Hold" from the eight brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $37.00.

Several equities research analysts have recently issued reports on FIBK shares. Wall Street Zen upgraded First Interstate BancSystem from a "strong sell" rating to a "sell" rating in a report on Saturday. Wells Fargo & Company lifted their price target on First Interstate BancSystem from $30.00 to $36.00 and gave the company an "underweight" rating in a report on Monday, March 30th. DA Davidson lowered First Interstate BancSystem from a "buy" rating to a "neutral" rating and reduced their price target for the company from $41.00 to $39.00 in a report on Wednesday, May 27th. Weiss Ratings upgraded First Interstate BancSystem from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, May 15th. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $37.00 price target (down from $38.00) on shares of First Interstate BancSystem in a report on Friday, May 1st.

Insider Buying and Selling at First Interstate BancSystem

In related news, major shareholder Jonathan R. Scott sold 12,892 shares of the firm's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $35.58, for a total value of $458,697.36. Following the transaction, the insider directly owned 866,628 shares of the company's stock, valued at approximately $30,834,624.24. This trade represents a 1.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Eurizon Capital SGR S.p.A. bought a new position in shares of First Interstate BancSystem in the 4th quarter valued at approximately $25,000. Kestra Advisory Services LLC bought a new position in shares of First Interstate BancSystem in the 4th quarter valued at approximately $29,000. EverSource Wealth Advisors LLC raised its stake in shares of 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 acquiring an additional 862 shares in the last quarter. First Horizon Corp raised its stake in shares of First Interstate BancSystem by 56.0% in the 4th quarter. First Horizon Corp now owns 1,268 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 455 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of First Interstate BancSystem by 1,485.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,601 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 1,500 shares in the last quarter. 88.71% of the stock is owned by institutional investors.

First Interstate BancSystem Price Performance

FIBK opened at $35.57 on Tuesday. First Interstate BancSystem has a fifty-two week low of $25.81 and a fifty-two week high of $39.26. The business has a 50-day moving average of $34.71 and a 200-day moving average of $35.12. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $3.46 billion, a PE ratio of 11.59 and a beta of 0.76.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $5.10 million during the quarter, compared to analyst estimates of $242.78 million. First Interstate BancSystem had a return on equity of 9.13% and a net margin of 22.64%.During the same period in the previous year, the company earned $0.49 EPS. Equities research analysts forecast that First Interstate BancSystem will post 2.66 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Monday, May 11th. First Interstate BancSystem's dividend payout ratio (DPR) is presently 61.24%.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.

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