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

First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) has been given a consensus recommendation of "Hold" by the six analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has 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 12-month target price among brokers that have covered the stock in the last year is $35.43.

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods upgraded First Interstate BancSystem from a "hold" rating to a "moderate buy" rating and set a $32.00 price objective on the stock in a report on Monday, June 23rd. Wall Street Zen upgraded First Interstate BancSystem from a "sell" rating to a "hold" rating in a research note on Saturday, May 10th. Barclays upgraded First Interstate BancSystem from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $28.00 to $32.00 in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company increased their target price on First Interstate BancSystem from $25.00 to $28.00 and gave the company an "underweight" rating in a report on Thursday, July 10th.

First Interstate BancSystem Stock Down 0.1%

Shares of First Interstate BancSystem stock traded down $0.03 on Friday, reaching $30.50. The company's stock had a trading volume of 643,896 shares, compared to its average volume of 708,899. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 14.46 and a beta of 0.79. The firm's fifty day simple moving average is $28.35 and its two-hundred day simple moving average is $29.05. First Interstate BancSystem has a 52 week low of $22.95 and a 52 week high of $36.77. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.37.

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 the consensus estimate of $0.56 by ($0.07). The business 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%. First Interstate BancSystem's revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 earnings per share. Equities analysts anticipate that First Interstate BancSystem will post 2.53 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, May 12th. This represents a $1.88 annualized dividend and a yield of 6.16%. First Interstate BancSystem's dividend payout ratio (DPR) is 89.10%.

Insider Activity at First Interstate BancSystem

In other news, major shareholder Susan Scott Heyneman Trust, Su sold 55,000 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $31.11, for a total value of $1,711,050.00. Following the completion of the transaction, the insider directly owned 584,256 shares in the company, valued at $18,176,204.16. This trade represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.20% of the company's stock.

Institutional Investors Weigh In On First Interstate BancSystem

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FIBK. Wood Tarver Financial Group LLC acquired a new stake in First Interstate BancSystem in the 4th quarter worth $26,000. GAMMA Investing LLC grew its position in First Interstate BancSystem by 186.5% in the 2nd quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider's stock worth $29,000 after purchasing an additional 647 shares during the last quarter. JNBA Financial Advisors acquired a new stake in First Interstate BancSystem in the 1st quarter worth $29,000. Quarry LP grew its position 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 worth $33,000 after purchasing an additional 450 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in First Interstate BancSystem in the 4th quarter worth $69,000. Hedge funds and other institutional investors own 88.71% of the company's stock.

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.