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

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

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

First Interstate BancSystem Stock Up 1.6%

Shares of NASDAQ FIBK traded up $0.42 during mid-day trading on Friday, reaching $27.17. 1,030,086 shares of the company's stock traded hands, compared to its average volume of 683,432. The stock has a market cap of $2.85 billion, a P/E ratio of 12.41 and a beta of 0.76. The business has a 50-day simple moving average of $26.71 and a 200 day simple moving average of $30.20. First Interstate BancSystem has a 1-year low of $22.95 and a 1-year high of $36.77. 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 (NASDAQ:FIBK - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07). The business had revenue of $42.00 million for the quarter, compared to analyst estimates of $253.50 million. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. The firm's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 earnings per share. On average, analysts expect that First Interstate BancSystem will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 6.92%. The ex-dividend date of this dividend was Monday, May 12th. First Interstate BancSystem's dividend payout ratio is 89.10%.

Institutional Trading of First Interstate BancSystem

Hedge funds have recently added to or reduced their stakes in the stock. Wood Tarver Financial Group LLC bought a new stake in First Interstate BancSystem in the fourth quarter worth about $26,000. JNBA Financial Advisors bought a new stake in First Interstate BancSystem in the first quarter worth about $29,000. Quarry LP raised its position in First Interstate BancSystem by 63.8% in 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. Meeder Asset Management Inc. bought a new stake in First Interstate BancSystem in the fourth quarter worth about $69,000. Finally, Covestor Ltd raised its position in First Interstate BancSystem by 25.8% in 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 period. Institutional investors own 88.71% of the company's stock.

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.