First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives Consensus Rating of “Hold” from Brokerages

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has earned a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $34.8571.

Several research analysts recently issued reports on FIBK shares. Barclays raised First Interstate BancSystem from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $28.00 to $32.00 in a research report on Tuesday, July 8th. DA Davidson lifted their target price on First Interstate BancSystem from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company lifted their target price on First Interstate BancSystem from $25.00 to $28.00 and gave the company an “underweight” rating in a research report on Thursday, July 10th. Wall Street Zen cut First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Monday, August 11th. Finally, Keefe, Bruyette & Woods raised First Interstate BancSystem from a “hold” rating to a “moderate buy” rating and set a $32.00 target price on the stock in a research report on Monday, June 23rd.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Susan Scott Heyneman Trust, Su sold 55,000 shares of the business’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $27.86, for a total value of $1,532,300.00. Following the transaction, the insider owned 529,256 shares of the company’s stock, valued at approximately $14,745,072.16. The trade was a 9.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John M. Heyneman, Jr. sold 11,818 shares of the business’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $30.18, for a total value of $356,667.24. Following the completion of the transaction, the director directly owned 5,224 shares in the company, valued at approximately $157,660.32. This represents a 69.35% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 121,818 shares of company stock worth $3,600,017. Insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FIBK. Wood Tarver Financial Group LLC purchased a new position in First Interstate BancSystem in the fourth quarter worth $26,000. JNBA Financial Advisors purchased a new position in shares of First Interstate BancSystem during the 1st quarter valued at $29,000. GAMMA Investing LLC lifted its position in shares of First Interstate BancSystem by 186.5% during 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 during the last quarter. Quarry LP raised its stake in shares of First Interstate BancSystem by 63.8% during the 1st quarter. Quarry LP now owns 1,155 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 450 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of First Interstate BancSystem by 139.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 862 shares during the period. Hedge funds and other institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Trading Up 0.6%

NASDAQ FIBK opened at $32.68 on Friday. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 14.72 and a beta of 0.80. First Interstate BancSystem has a 52 week low of $22.95 and a 52 week high of $36.77. The business has a 50 day moving average price of $30.79 and a 200-day moving average price of $28.67. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.19.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.57 by $0.12. The firm had revenue of $248.30 million during the quarter, compared to the consensus estimate of $253.73 million. First Interstate BancSystem had a return on equity of 6.82% and a net margin of 16.04%.The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.58 earnings per share. As a group, equities analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Monday, August 11th were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.88 annualized dividend and a yield of 5.8%. First Interstate BancSystem’s payout ratio is currently 84.68%.

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.