BidaskClub cut shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) from a sell rating to a strong sell rating in a report published on Thursday morning.

A number of other analysts have also recently commented on FIBK. Zacks Investment Research upgraded First Interstate BancSystem from a hold rating to a strong-buy rating and set a $44.00 target price on the stock in a research report on Friday, April 28th. Keefe, Bruyette & Woods set a $43.00 target price on First Interstate BancSystem and gave the stock a hold rating in a research report on Saturday, May 27th. ValuEngine upgraded First Interstate BancSystem from a hold rating to a buy rating in a research report on Wednesday, May 31st. Piper Jaffray Companies reiterated an overweight rating and set a $43.00 target price (down previously from $44.00) on shares of First Interstate BancSystem in a research report on Thursday, June 1st. Finally, Wells Fargo & Company upgraded First Interstate BancSystem from a market perform rating to an outperform rating in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $42.75.

First Interstate BancSystem (NASDAQ FIBK) traded up 0.38% during mid-day trading on Thursday, reaching $36.55. The company’s stock had a trading volume of 220,456 shares. First Interstate BancSystem has a one year low of $28.57 and a one year high of $45.35. The stock’s 50 day moving average is $37.08 and its 200 day moving average is $39.13. The firm has a market cap of $2.06 billion, a PE ratio of 17.71 and a beta of 1.15.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.03. First Interstate BancSystem had a return on equity of 10.44% and a net margin of 22.60%. The business had revenue of $116.50 million for the quarter, compared to analysts’ expectations of $119.97 million. On average, analysts anticipate that First Interstate BancSystem will post $2.28 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Wednesday, August 2nd will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.63%. The ex-dividend date is Monday, July 31st. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 46.38%.

Institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. boosted its position in shares of First Interstate BancSystem by 829.0% in the first quarter. Advisors Asset Management Inc. now owns 6,029 shares of the financial services provider’s stock valued at $239,000 after buying an additional 5,380 shares during the period. Karp Capital Management Corp bought a new position in shares of First Interstate BancSystem during the first quarter valued at about $663,000. USA Financial Portformulas Corp bought a new position in shares of First Interstate BancSystem during the fourth quarter valued at about $339,000. First Interstate Bank boosted its position in shares of First Interstate BancSystem by 33.7% in the first quarter. First Interstate Bank now owns 125,746 shares of the financial services provider’s stock valued at $4,986,000 after buying an additional 31,722 shares during the period. Finally, Swiss National Bank boosted its position in shares of First Interstate BancSystem by 5.0% in the first quarter. Swiss National Bank now owns 33,700 shares of the financial services provider’s stock valued at $1,336,000 after buying an additional 1,600 shares during the period. Hedge funds and other institutional investors own 38.70% of the company’s stock.

About First Interstate BancSystem

First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.

Analyst Recommendations for First Interstate BancSystem (NASDAQ:FIBK)

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