First Interstate BancSystem, Inc. (NASDAQ:FIBK) has received an average rating of “Hold” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $42.33.

Several brokerages recently commented on FIBK. BidaskClub downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Keefe, Bruyette & Woods set a $43.00 price objective on shares of First Interstate BancSystem and gave the company a “hold” rating in a research note on Saturday, May 27th. Barclays PLC reissued an “overweight” rating and issued a $41.00 price objective on shares of First Interstate BancSystem in a research note on Tuesday, June 13th. Wells Fargo & Company raised shares of First Interstate BancSystem from a “market perform” rating to an “outperform” rating in a research note on Friday, June 2nd. Finally, ValuEngine raised shares of First Interstate BancSystem from a “hold” rating to a “buy” rating in a research note on Wednesday, May 31st.

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of First Interstate BancSystem by 44.7% in the first quarter. Vanguard Group Inc. now owns 1,795,049 shares of the financial services provider’s stock valued at $71,175,000 after buying an additional 554,418 shares during the period. State Street Corp boosted its position in shares of First Interstate BancSystem by 66.0% in the first quarter. State Street Corp now owns 769,627 shares of the financial services provider’s stock valued at $30,523,000 after buying an additional 305,988 shares during the period. Bahl & Gaynor Inc. boosted its position in shares of First Interstate BancSystem by 367.8% in the first quarter. Bahl & Gaynor Inc. now owns 186,412 shares of the financial services provider’s stock valued at $7,392,000 after buying an additional 146,566 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of First Interstate BancSystem by 28.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 405,384 shares of the financial services provider’s stock valued at $16,073,000 after buying an additional 90,083 shares during the period. Finally, RidgeWorth Capital Management LLC acquired a new position in shares of First Interstate BancSystem during the first quarter valued at about $3,358,000. Hedge funds and other institutional investors own 38.73% of the company’s stock.

Shares of First Interstate BancSystem (FIBK) traded up 0.96% during mid-day trading on Monday, hitting $36.85. 10,289 shares of the company were exchanged. The firm has a market capitalization of $1.66 billion, a P/E ratio of 16.83 and a beta of 1.15. The company’s 50-day moving average price is $36.96 and its 200-day moving average price is $39.35. First Interstate BancSystem has a 12-month low of $28.00 and a 12-month high of $45.35.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by $0.02. The company had revenue of $98 million during the quarter, compared to the consensus estimate of $105.22 million. First Interstate BancSystem had a net margin of 22.60% and a return on equity of 9.99%. Equities research analysts predict that First Interstate BancSystem will post $2.28 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Shareholders 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 currently 43.84%.

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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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