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

First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) has been given a consensus recommendation of "Hold" by the six brokerages that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $34.43.

Several equities research analysts have recently weighed in on FIBK shares. Barclays decreased their price target on First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods raised shares of First Interstate BancSystem from a "hold" rating to a "moderate buy" rating and set a $32.00 target price for the company in a research report on Monday. Wall Street Zen upgraded shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a research report on Saturday, May 10th. Finally, Wells Fargo & Company cut their target price on First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 9th.

Hedge Funds Weigh In On First Interstate BancSystem

Several hedge funds have recently made changes to their positions in the stock. Strs Ohio purchased a new position in First Interstate BancSystem during the 1st quarter valued at about $335,000. Intech Investment Management LLC boosted its position in shares of First Interstate BancSystem by 47.9% in the first quarter. Intech Investment Management LLC now owns 52,558 shares of the financial services provider's stock valued at $1,506,000 after acquiring an additional 17,016 shares during the period. Jane Street Group LLC purchased a new position in First Interstate BancSystem during the first quarter valued at approximately $5,125,000. Ashton Thomas Private Wealth LLC increased its holdings in First Interstate BancSystem by 8.3% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 85,160 shares of the financial services provider's stock worth $2,440,000 after acquiring an additional 6,506 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in First Interstate BancSystem by 24,352.5% in the 1st quarter. Jones Financial Companies Lllp now owns 24,697 shares of the financial services provider's stock worth $708,000 after purchasing an additional 24,596 shares in the last quarter. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

First Interstate BancSystem Trading Down 1.8%

NASDAQ:FIBK traded down $0.53 during mid-day trading on Tuesday, hitting $28.48. 2,617,000 shares of the company's stock were exchanged, compared to its average volume of 716,479. 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 current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $2.99 billion, a P/E ratio of 13.50 and a beta of 0.79. The company has a 50 day simple moving average of $27.19 and a 200-day simple moving average of $29.38.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $42.00 million for the quarter, compared to analyst estimates of $253.50 million. First Interstate BancSystem had a return on equity of 6.57% and a net margin of 14.93%. First Interstate BancSystem's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. As a group, research analysts expect that First Interstate BancSystem will post 2.53 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.88 annualized dividend and a dividend yield of 6.60%. First Interstate BancSystem's dividend payout ratio is currently 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.