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

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

FIBK has been the topic of several analyst reports. Barclays cut their price target on First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Stephens dropped their target price on First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Wells Fargo & Company decreased their price target on First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating for the company in a report on Wednesday, April 9th. StockNews.com cut shares of First Interstate BancSystem from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Finally, Piper Sandler decreased their target price on shares of First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd.

Insider Buying and Selling at First Interstate BancSystem

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $32.56, for a total value of $43,467.60. Following the completion of the sale, the director now directly owns 1,414,886 shares in the company, valued at $46,068,688.16. This represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.20% of the stock is owned by insiders.

Hedge Funds Weigh In On First Interstate BancSystem

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIBK. Wood Tarver Financial Group LLC acquired a new position in shares of First Interstate BancSystem in the 4th quarter valued at $26,000. JNBA Financial Advisors acquired a new stake in shares of First Interstate BancSystem during the first quarter valued at about $29,000. Meeder Asset Management Inc. purchased a new stake in shares of First Interstate BancSystem in the 4th quarter valued at approximately $69,000. Covestor Ltd lifted its holdings in shares of First Interstate BancSystem by 25.8% in the 4th 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 last quarter. Finally, Sterling Capital Management LLC boosted its position in shares of First Interstate BancSystem by 826.3% during the 4th quarter. Sterling Capital Management LLC now owns 2,501 shares of the financial services provider's stock worth $81,000 after purchasing an additional 2,231 shares during the period. Institutional investors and hedge funds own 88.71% of the company's stock.

First Interstate BancSystem Stock Performance

Shares of First Interstate BancSystem stock traded down $0.21 on Monday, reaching $26.35. 598,948 shares of the stock were exchanged, compared to its average volume of 654,532. The business has a 50 day moving average price of $27.43 and a two-hundred day moving average price of $30.88. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 12.03 and a beta of 0.76. First Interstate BancSystem has a twelve month low of $22.95 and a twelve month high of $36.77. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71.

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 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 business's revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Analysts anticipate that First Interstate BancSystem will post 2.53 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Monday, May 12th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $1.88 dividend on an annualized basis and a yield of 7.14%. First Interstate BancSystem's payout ratio is presently 89.10%.

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.