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

Key Points

• Analyst consensus "Hold": Eight analysts give FIBK an average "Hold" rating (2 sell, 2 hold, 4 buy) with a mean 1‑year target of $38 and recent mixed revisions (e.g., Barclays cut to $36, Piper Sandler trimmed to $41, Weiss upgraded to Buy).
• Quarterly results mixed: FIBK beat EPS expectations ($1.08 vs. $0.64) and revenue was up 19.8% year‑over‑year to $205.1M but fell short of consensus; analysts forecast $2.53 EPS for the current year.
• High dividend yield: The company pays a $0.47 quarterly dividend (annualized $1.88) for a 5.4% yield with a 63.7% payout ratio, and the stock trades around $34.62 with a P/E of 11.74 and market cap of about $3.5B.

First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) has been assigned an average rating of "Hold" from the eight research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $38.00.

Several analysts have recently weighed in on the stock. Barclays decreased their target price on shares of First Interstate BancSystem from $38.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Friday, January 30th. Piper Sandler decreased their target price on shares of First Interstate BancSystem from $44.00 to $41.00 and set an "overweight" rating on the stock in a research report on Thursday, April 2nd. Wall Street Zen upgraded shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a research report on Saturday, March 7th. Wells Fargo & Company lifted their target price on shares of First Interstate BancSystem from $30.00 to $36.00 and gave the company an "underweight" rating in a research report on Monday, March 30th. Finally, Weiss Ratings upgraded shares of First Interstate BancSystem from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, April 2nd.

First Interstate BancSystem Stock Performance

NASDAQ:FIBK opened at $34.62 on Monday. The firm's 50-day moving average is $34.72 and its 200-day moving average is $34.24. First Interstate BancSystem has a 52-week low of $24.76 and a 52-week high of $39.26. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 11.74 and a beta of 0.77.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.44. First Interstate BancSystem had a net margin of 21.40% and a return on equity of 8.83%. The company had revenue of $205.10 million for the quarter, compared to the consensus estimate of $256.89 million. During the same quarter in the previous year, the firm posted $0.50 EPS. The business's revenue was up 19.8% compared to the same quarter last year. Equities research 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 Friday, February 20th. Shareholders of record on Tuesday, February 10th were given a $0.47 dividend. The ex-dividend date was Tuesday, February 10th. This represents a $1.88 dividend on an annualized basis and a yield of 5.4%. First Interstate BancSystem's payout ratio is 63.73%.

Hedge Funds Weigh In On First Interstate BancSystem

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. acquired a new position in First Interstate BancSystem in the fourth quarter valued at about $25,000. First Horizon Corp acquired a new position in First Interstate BancSystem in the third quarter valued at about $26,000. Kestra Advisory Services LLC acquired a new position in First Interstate BancSystem in the fourth quarter valued at about $29,000. EverSource Wealth Advisors LLC boosted its position in First Interstate BancSystem by 139.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider's stock valued at $43,000 after buying an additional 862 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in First Interstate BancSystem by 49.6% in the fourth quarter. GAMMA Investing LLC now owns 1,556 shares of the financial services provider's stock valued at $54,000 after buying an additional 516 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.

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