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

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have earned an average rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $36.14.

A number of brokerages have weighed in on FIBK. Stephens lowered their target price on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 31st. StockNews.com cut First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Tuesday, December 24th. Barclays lifted their target price on First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. DA Davidson reaffirmed a “buy” rating and set a $42.00 target price on shares of First Interstate BancSystem in a research report on Thursday, January 30th. Finally, Wells Fargo & Company lifted their target price on First Interstate BancSystem from $29.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, February 3rd.

First Interstate BancSystem Stock Performance

NASDAQ:FIBK opened at $32.75 on Wednesday. The stock’s 50-day simple moving average is $32.61 and its 200 day simple moving average is $31.69. The firm has a market capitalization of $3.42 billion, a PE ratio of 14.95 and a beta of 0.85. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem has a twelve month low of $24.16 and a twelve month high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. On average, analysts anticipate that First Interstate BancSystem will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.47 per share. The ex-dividend date is Monday, February 10th. This represents a $1.88 annualized dividend and a yield of 5.74%. First Interstate BancSystem’s dividend payout ratio is 85.84%.

Insider Buying and Selling at First Interstate BancSystem

In other news, major shareholder James R. Scott, Jr. sold 6,067 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $34.50, for a total value of $209,311.50. Following the transaction, the insider now directly owns 75,387 shares in the company, valued at $2,600,851.50. This trade represents a 7.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John M. Heyneman, Jr. sold 1,335 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $32.56, for a total value of $43,467.60. Following the completion of the transaction, the director now owns 1,414,886 shares in the company, valued at approximately $46,068,688.16. This trade represents a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On First Interstate BancSystem

A number of institutional investors and hedge funds have recently bought and sold shares of FIBK. Vanguard Group Inc. increased its holdings in shares of First Interstate BancSystem by 6.8% in the fourth quarter. Vanguard Group Inc. now owns 9,229,785 shares of the financial services provider’s stock worth $299,691,000 after purchasing an additional 587,975 shares during the last quarter. FMR LLC increased its holdings in shares of First Interstate BancSystem by 35.5% in the fourth quarter. FMR LLC now owns 6,786,334 shares of the financial services provider’s stock worth $220,352,000 after purchasing an additional 1,778,269 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of First Interstate BancSystem by 2.7% in the fourth quarter. Franklin Resources Inc. now owns 5,474,757 shares of the financial services provider’s stock worth $177,765,000 after purchasing an additional 145,842 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of First Interstate BancSystem by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,045,741 shares of the financial services provider’s stock worth $163,836,000 after purchasing an additional 138,050 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of First Interstate BancSystem by 3.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,936,868 shares of the financial services provider’s stock worth $95,360,000 after purchasing an additional 107,774 shares during the last quarter. 88.71% of the stock is owned by 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.