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

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) have received a consensus recommendation of "Hold" from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $34.43.

Several research firms have weighed in on FIBK. Wall Street Zen raised First Interstate BancSystem from a "sell" rating to a "hold" rating in a research report on Saturday, May 10th. Keefe, Bruyette & Woods began coverage on First Interstate BancSystem in a research report on Monday. They issued an "outperform" rating and a $32.00 target price for the company. Barclays dropped their target price on 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. Finally, Wells Fargo & Company dropped their target price on First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating for the company in a research report on Wednesday, April 9th.

First Interstate BancSystem Stock Up 4.1%

Shares of FIBK opened at $27.45 on Tuesday. The firm has a market cap of $2.88 billion, a P/E ratio of 13.01 and a beta of 0.79. First Interstate BancSystem has a 12-month low of $22.95 and a 12-month high of $36.77. The company's 50-day moving average price is $26.99 and its 200 day moving average price is $29.49. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.37.

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 the consensus estimate of $0.56 by ($0.07). The company had revenue of $42.00 million during the quarter, compared to analysts' expectations of $253.50 million. First Interstate BancSystem had a net margin of 14.93% and a return on equity of 6.57%. The firm's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 earnings per share. On average, sell-side analysts forecast that First Interstate BancSystem will post 2.53 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.85%. The ex-dividend date of this dividend was Monday, May 12th. First Interstate BancSystem's dividend payout ratio is presently 89.10%.

Hedge Funds Weigh In On First Interstate BancSystem

Institutional investors and hedge funds have recently made changes to their positions in the stock. Swiss National Bank boosted its holdings in First Interstate BancSystem by 0.5% in the fourth quarter. Swiss National Bank now owns 185,046 shares of the financial services provider's stock valued at $6,008,000 after purchasing an additional 1,000 shares in the last quarter. GAMMA Investing LLC boosted its holdings in First Interstate BancSystem by 2,336.8% in the first quarter. GAMMA Investing LLC now owns 9,942 shares of the financial services provider's stock valued at $285,000 after purchasing an additional 9,534 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in First Interstate BancSystem by 39.7% in the fourth quarter. Ameriprise Financial Inc. now owns 62,928 shares of the financial services provider's stock valued at $2,043,000 after purchasing an additional 17,879 shares in the last quarter. Natixis Advisors LLC acquired a new position in First Interstate BancSystem in the fourth quarter valued at approximately $1,366,000. Finally, JPMorgan Chase & Co. boosted its holdings in First Interstate BancSystem by 3.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,936,868 shares of the financial services provider's stock valued at $95,360,000 after purchasing an additional 107,774 shares in the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

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.

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