First Interstate BancSystem, Inc. (NASDAQ:FIBK) Given Average Recommendation of “Hold” by Brokerages

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have been given a consensus recommendation of “Hold” by the eight ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $37.00.

Several equities analysts recently commented on the company. Wells Fargo & Company increased their target price on First Interstate BancSystem from $30.00 to $36.00 and gave the company an “underweight” rating in a report on Monday, March 30th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $37.00 price objective (down from $38.00) on shares of First Interstate BancSystem in a research note on Friday, May 1st. Wall Street Zen upgraded shares of First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. UBS Group upped their price objective on shares of First Interstate BancSystem from $30.00 to $33.00 and gave the company a “sell” rating in a research note on Friday, May 1st. Finally, DA Davidson downgraded shares of First Interstate BancSystem from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $41.00 to $39.00 in a research note on Wednesday, May 27th.

Insider Transactions at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Jonathan R. Scott sold 12,892 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $35.58, for a total value of $458,697.36. Following the completion of the transaction, the insider owned 866,628 shares in the company, valued at $30,834,624.24. This represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Interstate BancSystem

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in First Interstate BancSystem by 13.7% in the fourth quarter. Vanguard Group Inc. now owns 10,048,419 shares of the financial services provider’s stock valued at $347,675,000 after acquiring an additional 1,214,454 shares in the last quarter. Wellington Management Group LLP boosted its stake in First Interstate BancSystem by 20.4% in the third quarter. Wellington Management Group LLP now owns 5,915,425 shares of the financial services provider’s stock valued at $188,525,000 after acquiring an additional 1,003,021 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in First Interstate BancSystem by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 5,630,789 shares of the financial services provider’s stock valued at $188,066,000 after acquiring an additional 231,405 shares in the last quarter. State Street Corp boosted its stake in First Interstate BancSystem by 29.7% in the fourth quarter. State Street Corp now owns 5,482,245 shares of the financial services provider’s stock valued at $189,686,000 after acquiring an additional 1,254,321 shares in the last quarter. Finally, HoldCo Asset Management LP boosted its stake in First Interstate BancSystem by 10.6% in the third quarter. HoldCo Asset Management LP now owns 3,950,107 shares of the financial services provider’s stock valued at $125,890,000 after acquiring an additional 380,000 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Stock Performance

NASDAQ:FIBK opened at $36.43 on Tuesday. The firm has a market capitalization of $3.54 billion, a PE ratio of 11.87 and a beta of 0.76. The business’s fifty day moving average price is $35.03 and its 200 day moving average price is $35.30. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. First Interstate BancSystem has a 12 month low of $25.81 and a 12 month high of $39.26.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Wednesday, April 29th. The financial services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $5.10 million for the quarter, compared to analyst estimates of $242.78 million. First Interstate BancSystem had a return on equity of 9.13% and a net margin of 22.64%.During the same quarter in the prior year, the company posted $0.49 earnings per share. On average, sell-side analysts anticipate that First Interstate BancSystem will post 2.66 earnings per share for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 5.2%. The ex-dividend date was Monday, May 11th. First Interstate BancSystem’s dividend payout ratio is currently 61.24%.

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.