First Interstate BancSystem, Inc. (NASDAQ:FIBK – Get Free Report) has earned a consensus rating of “Hold” from the eight brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $37.00.
Several brokerages have recently weighed in on FIBK. Piper Sandler lowered their target price on First Interstate BancSystem from $44.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. Weiss Ratings upgraded First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 15th. Wall Street Zen upgraded First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $37.00 target price (down from $38.00) on shares of First Interstate BancSystem in a report on Friday, May 1st. Finally, Wells Fargo & Company boosted their target price on First Interstate BancSystem from $30.00 to $36.00 and gave the stock an “underweight” rating in a report on Monday, March 30th.
Insider Buying and Selling
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in FIBK. Capital International Investors acquired a new position in First Interstate BancSystem in the fourth quarter valued at approximately $92,504,000. State Street Corp lifted its holdings 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 during the last quarter. Vanguard Group Inc. lifted its holdings 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 during the last quarter. Azora Capital LP lifted its holdings in First Interstate BancSystem by 1,538.7% in the third quarter. Azora Capital LP now owns 1,275,693 shares of the financial services provider’s stock valued at $40,656,000 after acquiring an additional 1,197,843 shares during the last quarter. Finally, North Reef Capital Management LP lifted its holdings in First Interstate BancSystem by 132.4% in the fourth quarter. North Reef Capital Management LP now owns 1,974,999 shares of the financial services provider’s stock valued at $68,335,000 after acquiring an additional 1,124,999 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.
First Interstate BancSystem Price Performance
NASDAQ:FIBK opened at $36.43 on Tuesday. First Interstate BancSystem has a 12 month low of $25.81 and a 12 month high of $39.26. The stock has a 50 day moving average of $35.03 and a two-hundred day moving average of $35.30. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The firm has a market cap of $3.54 billion, a P/E ratio of 11.87 and a beta of 0.76.
First Interstate BancSystem (NASDAQ:FIBK – Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.60 by $0.01. The company had revenue of $5.10 million during 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 period in the previous year, the business earned $0.49 EPS. On average, analysts expect 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. Stockholders of record on Monday, May 11th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Monday, May 11th. First Interstate BancSystem’s 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.
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