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

First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) has received a consensus rating of "Hold" from the six research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $35.43.

Several brokerages have recently weighed in on FIBK. Wells Fargo & Company upped their target price on First Interstate BancSystem from $25.00 to $28.00 and gave the stock an "underweight" rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods raised 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 note on Monday, June 23rd. Barclays raised First Interstate BancSystem from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $28.00 to $32.00 in a research note on Tuesday, July 8th. Finally, Wall Street Zen raised First Interstate BancSystem from a "sell" rating to a "hold" rating in a research note on Saturday, May 10th.

First Interstate BancSystem Trading Down 0.0%

First Interstate BancSystem stock opened at $30.76 on Friday. 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 has a 12 month low of $22.95 and a 12 month high of $36.77. The stock's 50 day simple moving average is $28.23 and its two-hundred day simple moving average is $29.11. The firm has a market cap of $3.23 billion, a PE ratio of 14.58 and a beta of 0.79.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released 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). First Interstate BancSystem had a return on equity of 6.57% and a net margin of 14.93%. The company had revenue of $42.00 million during the quarter, compared to analysts' expectations of $253.50 million. During the same quarter in the prior year, the company posted $0.57 EPS. The company's revenue for the quarter was up 2.0% on a year-over-year basis. Analysts anticipate that First Interstate BancSystem will post 2.53 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 6.11%. The ex-dividend date of this dividend was Monday, May 12th. First Interstate BancSystem's payout ratio is 89.10%.

Insider Activity at First Interstate BancSystem

In related news, major shareholder Susan Scott Heyneman Trust, Su sold 55,000 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $31.11, for a total transaction of $1,711,050.00. Following the completion of the sale, the insider directly owned 584,256 shares in the company, valued at approximately $18,176,204.16. The trade was a 8.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.20% of the company's stock.

Institutional Trading of First Interstate BancSystem

Several large investors have recently made changes to their positions in the company. Quarry LP increased its position in shares of First Interstate BancSystem by 63.8% during the first quarter. Quarry LP now owns 1,155 shares of the financial services provider's stock worth $33,000 after purchasing an additional 450 shares in the last quarter. Deutsche Bank AG grew its holdings in First Interstate BancSystem by 0.7% in the 1st quarter. Deutsche Bank AG now owns 70,065 shares of the financial services provider's stock valued at $2,007,000 after buying an additional 455 shares in the last quarter. Evergreen Capital Management LLC grew its holdings in First Interstate BancSystem by 1.9% in the 4th quarter. Evergreen Capital Management LLC now owns 24,580 shares of the financial services provider's stock valued at $798,000 after buying an additional 468 shares in the last quarter. Covestor Ltd grew its holdings in First Interstate BancSystem by 25.8% in the 4th quarter. Covestor Ltd now owns 2,485 shares of the financial services provider's stock valued at $81,000 after buying an additional 510 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings 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 valued at $29,000 after buying an additional 647 shares in the last quarter. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

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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