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

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have earned an average recommendation of “Hold” from the seven research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $36.14.

FIBK has been the topic of several research analyst reports. StockNews.com lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Tuesday, December 24th. UBS Group started coverage on shares of First Interstate BancSystem in a report on Tuesday, December 17th. They set a “neutral” rating and a $35.00 price target on the stock. Keefe, Bruyette & Woods upped their price objective on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Wells Fargo & Company raised their target price on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, February 3rd. Finally, Piper Sandler lowered their price target on shares of First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, February 3rd.

First Interstate BancSystem Stock Performance

Shares of FIBK stock opened at $30.47 on Wednesday. First Interstate BancSystem has a one year low of $24.16 and a one year high of $36.77. The stock has a market cap of $3.19 billion, a P/E ratio of 13.91 and a beta of 0.85. The company has a fifty day moving average price of $32.38 and a two-hundred day moving average price of $31.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, beating 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%. As a group, equities analysts predict that First Interstate BancSystem will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were issued a $0.47 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.88 annualized dividend and a dividend yield of 6.17%. First Interstate BancSystem’s payout ratio is currently 85.84%.

Insider Transactions at First Interstate BancSystem

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $32.56, for a total transaction of $43,467.60. Following the transaction, the director now directly owns 1,414,886 shares of the company’s stock, valued at approximately $46,068,688.16. This trade represents a 0.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On First Interstate BancSystem

Several institutional investors have recently bought and sold shares of FIBK. FMR LLC grew its holdings in First Interstate BancSystem by 35.5% in the 4th quarter. FMR LLC now owns 6,786,334 shares of the financial services provider’s stock worth $220,352,000 after acquiring an additional 1,778,269 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of First Interstate BancSystem by 88.3% in the fourth quarter. Wellington Management Group LLP now owns 2,425,615 shares of the financial services provider’s stock worth $78,760,000 after purchasing an additional 1,137,401 shares during the last quarter. Victory Capital Management Inc. increased its holdings in First Interstate BancSystem by 309.9% during the 4th quarter. Victory Capital Management Inc. now owns 1,270,296 shares of the financial services provider’s stock valued at $41,247,000 after purchasing an additional 960,372 shares during the period. Norges Bank bought a new position in First Interstate BancSystem during the 4th quarter valued at approximately $24,137,000. Finally, Jennison Associates LLC lifted its holdings in First Interstate BancSystem by 73.9% in the 4th quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider’s stock worth $50,020,000 after buying an additional 654,688 shares during the period. 88.71% of the stock is currently 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.