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

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have been assigned a consensus recommendation of “Hold” from the eight ratings firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $37.3333.

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $37.00 price objective (down from $38.00) on shares of First Interstate BancSystem in a research report on Friday, May 1st. Barclays lowered their target price on First Interstate BancSystem from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Friday, January 30th. Wells Fargo & Company boosted their price target on shares of First Interstate BancSystem from $30.00 to $36.00 and gave the stock an “underweight” rating in a report on Monday, March 30th. Weiss Ratings upgraded shares of First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 15th. Finally, Wall Street Zen upgraded shares of First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a report on Tuesday.

First Interstate BancSystem Trading Up 0.1%

Shares of FIBK stock opened at $35.20 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 11.47 and a beta of 0.77. First Interstate BancSystem has a 52-week low of $25.81 and a 52-week high of $39.26. The company has a 50-day simple moving average of $34.14 and a two-hundred day simple moving average of $34.80.

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, topping the consensus estimate of $0.60 by $0.01. The firm had revenue of $5.10 million for the quarter, compared to analysts’ expectations of $242.78 million. First Interstate BancSystem had a net margin of 22.64% and a return on equity of 9.13%. During the same quarter last year, the firm earned $0.49 EPS. Research analysts anticipate that First Interstate BancSystem will post 2.66 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Monday, May 11th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, May 11th. This represents a $1.88 annualized dividend and a dividend yield of 5.3%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 61.24%.

Hedge Funds Weigh In On First Interstate BancSystem

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in First Interstate BancSystem by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,495,403 shares of the financial services provider’s stock valued at $175,140,000 after acquiring an additional 78,835 shares during the period. HoldCo Asset Management LP boosted its position in First Interstate BancSystem by 10.6% during the third quarter. HoldCo Asset Management LP now owns 3,950,107 shares of the financial services provider’s stock worth $125,890,000 after purchasing an additional 380,000 shares during the period. Teachers Retirement System of The State of Kentucky bought a new position in First Interstate BancSystem during the third quarter worth about $2,115,000. Cambria Investment Management L.P. purchased a new position in shares of First Interstate BancSystem in the third quarter worth about $9,083,000. Finally, Vestmark Advisory Solutions Inc. bought a new stake in shares of First Interstate BancSystem in the third quarter valued at approximately $895,000. Hedge funds and other institutional investors own 88.71% of the company’s stock.

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.