First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives $35.00 Consensus PT from Analysts

First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) has been assigned an average recommendation of "Hold" from the seven analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $35.00.

A number of research analysts have issued reports on FIBK shares. Stephens cut their target price on shares of First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company reduced their price objective on shares of First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 9th. Barclays dropped their target price on shares of First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Piper Sandler cut their price target on First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Finally, Wall Street Zen raised First Interstate BancSystem from a "sell" rating to a "hold" rating in a research note on Saturday, May 10th.

Institutional Investors Weigh In On First Interstate BancSystem

A number of institutional investors and hedge funds have recently made changes to their positions in FIBK. Wood Tarver Financial Group LLC bought a new position in shares of First Interstate BancSystem in the fourth quarter valued at about $26,000. JNBA Financial Advisors acquired a new position in First Interstate BancSystem in the 1st quarter valued at about $29,000. Quarry LP raised its holdings in First Interstate BancSystem by 63.8% in the 1st quarter. Quarry LP now owns 1,155 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 450 shares during the period. Meeder Asset Management Inc. acquired a new stake in First Interstate BancSystem during the fourth quarter worth approximately $69,000. Finally, Covestor Ltd lifted its position in First Interstate BancSystem by 25.8% during the fourth quarter. Covestor Ltd now owns 2,485 shares of the financial services provider's stock worth $81,000 after acquiring an additional 510 shares during the last quarter. Institutional investors own 88.71% of the company's stock.

First Interstate BancSystem Price Performance

Shares of NASDAQ:FIBK traded down $0.14 during midday trading on Friday, reaching $27.07. The company's stock had a trading volume of 1,549,602 shares, compared to its average volume of 680,709. The business's fifty day simple moving average is $26.80 and its 200-day simple moving average is $30.31. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. First Interstate BancSystem has a fifty-two week low of $22.95 and a fifty-two week high of $36.77. The company has a market capitalization of $2.84 billion, a P/E ratio of 12.36 and a beta of 0.76.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. The firm had revenue of $42.00 million during the quarter, compared to the consensus estimate of $253.50 million. During the same quarter in the previous year, the business posted $0.57 earnings per share. The firm's quarterly revenue was up 2.0% on a year-over-year basis. As a group, equities research analysts expect that First Interstate BancSystem will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 6.94%. The ex-dividend date of this dividend was Monday, May 12th. First Interstate BancSystem's payout ratio is 89.10%.

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.