First Interstate BancSystem, Inc. (NASDAQ:FIBK) Given Average Rating of "Moderate Buy" by Analysts

First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) has received a consensus rating of "Moderate Buy" from the four ratings firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $29.00.

Several analysts have commented on FIBK shares. Stephens reaffirmed an "overweight" rating and issued a $32.00 target price on shares of First Interstate BancSystem in a research note on Thursday. Barclays started coverage on shares of First Interstate BancSystem in a research note on Friday, March 8th. They issued an "equal weight" rating and a $28.00 target price for the company. TheStreet cut shares of First Interstate BancSystem from a "b-" rating to a "c+" rating in a research note on Monday, March 18th. Finally, Wells Fargo & Company lifted their target price on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 10th.

First Interstate BancSystem Price Performance

Shares of FIBK traded up $0.38 during mid-day trading on Thursday, reaching $26.95. 1,300,799 shares of the company's stock were exchanged, compared to its average volume of 834,657. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.89. The company has a 50-day simple moving average of $26.08 and a two-hundred day simple moving average of $26.66. First Interstate BancSystem has a 52-week low of $20.81 and a 52-week high of $32.54. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 10.87 and a beta of 0.87.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.04. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.47%. The business had revenue of $252.30 million during the quarter, compared to analysts' expectations of $254.50 million. On average, sell-side analysts predict that First Interstate BancSystem will post 2.17 EPS for the current fiscal year.

First Interstate BancSystem Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 19th. Shareholders of record on Friday, February 9th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.98%. The ex-dividend date was Thursday, February 8th. This is a positive change from First Interstate BancSystem's previous quarterly dividend of $0.20. First Interstate BancSystem's dividend payout ratio (DPR) is 75.81%.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, EVP Kristina Robbins sold 2,710 shares of First Interstate BancSystem stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total value of $69,999.30. Following the transaction, the executive vice president now owns 9,047 shares in the company, valued at approximately $233,684.01. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other First Interstate BancSystem news, EVP Kristina Robbins sold 2,710 shares of First Interstate BancSystem stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total value of $69,999.30. Following the transaction, the executive vice president now owns 9,047 shares in the company, valued at approximately $233,684.01. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Karlyn M. Knieriem sold 2,900 shares of First Interstate BancSystem stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $26.76, for a total transaction of $77,604.00. Following the completion of the transaction, the executive vice president now owns 20,599 shares in the company, valued at approximately $551,229.24. The disclosure for this sale can be found here. Insiders have sold a total of 7,531 shares of company stock worth $197,645 in the last quarter. 6.90% of the stock is owned by insiders.

Hedge Funds Weigh In On First Interstate BancSystem

Several hedge funds and other institutional investors have recently made changes to their positions in FIBK. Franklin Resources Inc. lifted its holdings in shares of First Interstate BancSystem by 36.2% during the 4th quarter. Franklin Resources Inc. now owns 5,453,783 shares of the financial services provider's stock valued at $167,704,000 after acquiring an additional 1,449,219 shares in the last quarter. Norges Bank acquired a new position in shares of First Interstate BancSystem during the 4th quarter valued at $26,584,000. Jennison Associates LLC lifted its holdings in shares of First Interstate BancSystem by 93.4% during the 3rd quarter. Jennison Associates LLC now owns 1,426,641 shares of the financial services provider's stock valued at $35,580,000 after acquiring an additional 688,906 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of First Interstate BancSystem by 20.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,590,707 shares of the financial services provider's stock valued at $110,418,000 after acquiring an additional 620,682 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of First Interstate BancSystem by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 9,180,595 shares of the financial services provider's stock valued at $282,303,000 after acquiring an additional 533,293 shares in the last quarter. Institutional investors and hedge funds 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.