First Interstate Bancsystem Inc (NASDAQ:FIBK) has received a consensus rating of “Hold” from the eight research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $44.98.

FIBK has been the topic of several research reports. Piper Jaffray Companies set a $47.00 price target on First Interstate Bancsystem and gave the company a “buy” rating in a research note on Tuesday, April 9th. Zacks Investment Research upgraded First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. BidaskClub upgraded First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Finally, Robert W. Baird initiated coverage on First Interstate Bancsystem in a research note on Wednesday, April 10th. They set a “neutral” rating and a $42.00 price target on the stock.

In other First Interstate Bancsystem news, Director Jonathan R. Scott sold 15,670 shares of First Interstate Bancsystem stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $41.14, for a total value of $644,663.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Philip G. Gaglia sold 2,112 shares of First Interstate Bancsystem stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $42.20, for a total value of $89,126.40. Following the completion of the transaction, the insider now owns 3,184 shares in the company, valued at approximately $134,364.80. The disclosure for this sale can be found here. Insiders sold 24,986 shares of company stock worth $1,023,445 in the last quarter. 24.93% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC grew its stake in shares of First Interstate Bancsystem by 150.2% during the fourth quarter. FMR LLC now owns 1,340,663 shares of the financial services provider’s stock worth $49,014,000 after acquiring an additional 804,884 shares during the last quarter. Natixis Advisors L.P. grew its stake in shares of First Interstate Bancsystem by 43.3% during the fourth quarter. Natixis Advisors L.P. now owns 14,511 shares of the financial services provider’s stock worth $531,000 after acquiring an additional 4,387 shares during the last quarter. Naples Global Advisors LLC grew its stake in shares of First Interstate Bancsystem by 11.3% during the fourth quarter. Naples Global Advisors LLC now owns 17,800 shares of the financial services provider’s stock worth $673,000 after acquiring an additional 1,800 shares during the last quarter. Rothschild & Co. Asset Management US Inc. grew its stake in shares of First Interstate Bancsystem by 25.6% during the fourth quarter. Rothschild & Co. Asset Management US Inc. now owns 164,787 shares of the financial services provider’s stock worth $6,025,000 after acquiring an additional 33,552 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of First Interstate Bancsystem by 20.1% during the fourth quarter. Millennium Management LLC now owns 751,741 shares of the financial services provider’s stock worth $27,484,000 after acquiring an additional 125,944 shares during the last quarter. Institutional investors own 52.00% of the company’s stock.

Shares of First Interstate Bancsystem stock traded down $1.03 during trading on Thursday, hitting $36.91. 161,522 shares of the stock traded hands, compared to its average volume of 192,765. The firm has a market cap of $2.31 billion, a P/E ratio of 12.64, a P/E/G ratio of 1.35 and a beta of 1.15. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06. First Interstate Bancsystem has a 52-week low of $34.61 and a 52-week high of $47.05.

First Interstate Bancsystem (NASDAQ:FIBK) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). The firm had revenue of $150.50 million for the quarter, compared to analysts’ expectations of $151.84 million. First Interstate Bancsystem had a net margin of 25.84% and a return on equity of 10.69%. Analysts forecast that First Interstate Bancsystem will post 3.12 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Monday, May 13th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Friday, May 10th. This is a positive change from First Interstate Bancsystem’s previous quarterly dividend of $0.20. First Interstate Bancsystem’s payout ratio is 42.47%.

About First Interstate Bancsystem

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. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.

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Analyst Recommendations for First Interstate Bancsystem (NASDAQ:FIBK)

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