First Interstate BancSystem (NASDAQ:FIBK) Stock Rating Upgraded by Barclays

Barclays upgraded shares of First Interstate BancSystem (NASDAQ:FIBK - Free Report) from an underweight rating to an equal weight rating in a research note issued to investors on Tuesday morning, Marketbeat.com reports. They currently have $32.00 target price on the financial services provider's stock, up from their prior target price of $28.00.

FIBK has been the topic of several other reports. Wall Street Zen upgraded shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a report on Saturday, May 10th. Keefe, Bruyette & Woods raised First Interstate BancSystem from a "hold" rating to a "moderate buy" rating and set a $32.00 price objective for the company in a research note on Monday, June 23rd. Finally, Wells Fargo & Company decreased their target price on shares of First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating for the company in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $35.43.

First Interstate BancSystem Stock Performance

NASDAQ:FIBK traded down $0.25 during trading hours on Tuesday, hitting $31.13. 112,357 shares of the company traded hands, compared to its average volume of 828,158. First Interstate BancSystem has a twelve month low of $22.95 and a twelve month high of $36.77. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 14.73 and a beta of 0.79. 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 50-day moving average of $27.75 and a 200 day moving average of $29.19.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). First Interstate BancSystem had a net margin of 14.93% and a return on equity of 6.57%. The business had revenue of $42.00 million during the quarter, compared to the consensus estimate of $253.50 million. During the same period last year, the business posted $0.57 EPS. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts forecast that First Interstate BancSystem will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th were paid 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 6.04%. First Interstate BancSystem's dividend payout ratio (DPR) is presently 89.10%.

Institutional Investors Weigh In On First Interstate BancSystem

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of First Interstate BancSystem by 2,336.8% during the first quarter. GAMMA Investing LLC now owns 9,942 shares of the financial services provider's stock valued at $285,000 after purchasing an additional 9,534 shares in the last quarter. Swiss National Bank grew its position in shares of First Interstate BancSystem by 0.5% during the fourth quarter. Swiss National Bank now owns 185,046 shares of the financial services provider's stock worth $6,008,000 after purchasing an additional 1,000 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of First Interstate BancSystem by 39.7% during the fourth quarter. Ameriprise Financial Inc. now owns 62,928 shares of the financial services provider's stock worth $2,043,000 after purchasing an additional 17,879 shares in the last quarter. KBC Group NV grew its holdings in First Interstate BancSystem by 26.4% during the 1st quarter. KBC Group NV now owns 5,079 shares of the financial services provider's stock valued at $146,000 after buying an additional 1,061 shares in the last quarter. Finally, Natixis Advisors LLC purchased a new position in First Interstate BancSystem during the 4th quarter valued at approximately $1,366,000. 88.71% of the stock is owned by hedge funds and other institutional investors.

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.