Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK – Get Free Report) have received a consensus recommendation of “Hold” from the eight brokerages that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $37.3333.
A number of research firms have commented on FIBK. DA Davidson downgraded First Interstate BancSystem from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $41.00 to $39.00 in a report on Wednesday, May 27th. Wells Fargo & Company raised their price objective on First Interstate BancSystem from $30.00 to $36.00 and gave the stock an “underweight” rating in a research note on Monday, March 30th. UBS Group lifted their price objective on shares of First Interstate BancSystem from $30.00 to $33.00 and gave the stock a “sell” rating in a report on Friday, May 1st. Barclays boosted their target price on shares of First Interstate BancSystem from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, Wall Street Zen upgraded shares of First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a research report on Monday, June 22nd.
Get Our Latest Research Report on FIBK
Insider Transactions at First Interstate BancSystem
Hedge Funds Weigh In On First Interstate BancSystem
Large investors have recently bought and sold shares of the stock. McIlrath & Eck LLC raised its position in shares of First Interstate BancSystem by 17.2% during the 1st quarter. McIlrath & Eck LLC now owns 9,963 shares of the financial services provider’s stock worth $333,000 after buying an additional 1,461 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of First Interstate BancSystem by 1.4% in the 1st quarter. Bank of America Corp DE now owns 1,778,094 shares of the financial services provider’s stock worth $59,388,000 after acquiring an additional 24,250 shares during the period. Amundi boosted its holdings in shares of First Interstate BancSystem by 88.4% in the first quarter. Amundi now owns 24,976 shares of the financial services provider’s stock valued at $834,000 after acquiring an additional 11,720 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of First Interstate BancSystem by 17.7% in the first quarter. EverSource Wealth Advisors LLC now owns 2,099 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 315 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of First Interstate BancSystem by 36.9% during the first quarter. California State Teachers Retirement System now owns 113,551 shares of the financial services provider’s stock valued at $3,793,000 after acquiring an additional 30,614 shares during the period. Institutional investors and hedge funds own 88.71% of the company’s stock.
First Interstate BancSystem Stock Down 0.2%
FIBK stock traded down $0.06 during mid-day trading on Friday, hitting $38.85. 629,557 shares of the company were exchanged, compared to its average volume of 993,464. The company has a market capitalization of $3.77 billion, a PE ratio of 12.65 and a beta of 0.76. The firm has a fifty day simple moving average of $36.45 and a 200 day simple moving average of $35.78. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. First Interstate BancSystem has a twelve month low of $27.60 and a twelve month high of $39.65.
First Interstate BancSystem (NASDAQ:FIBK – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $5.10 million during the quarter, compared to the consensus estimate 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 period last year, the firm earned $0.49 earnings per share. On average, research analysts forecast that First Interstate BancSystem will post 2.66 earnings per share for the current fiscal year.
First Interstate BancSystem Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.88 annualized dividend and a yield of 4.8%. First Interstate BancSystem’s dividend payout ratio (DPR) 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.
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