First Interstate BancSystem, Inc. (NASDAQ:FIBK) has been given an average rating of “Buy” by the eight brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $42.33.

FIBK has been the subject of several recent analyst reports. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $43.00 price target (down previously from $44.00) on shares of First Interstate BancSystem in a research report on Thursday, June 1st. Zacks Investment Research lowered First Interstate BancSystem from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 1st. BidaskClub raised First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. ValuEngine raised First Interstate BancSystem from a “hold” rating to a “buy” rating in a research report on Wednesday, May 31st. Finally, Wells Fargo & Company raised First Interstate BancSystem from a “market perform” rating to an “outperform” rating in a research report on Friday, June 2nd.

Shares of First Interstate BancSystem (NASDAQ:FIBK) traded down 0.14% during mid-day trading on Friday, hitting $35.00. 76,731 shares of the stock traded hands. The company has a market capitalization of $1.98 billion, a PE ratio of 16.93 and a beta of 1.15. First Interstate BancSystem has a 1-year low of $29.78 and a 1-year high of $45.35. The company’s 50-day moving average price is $36.70 and its 200 day moving average price is $38.62.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. The firm had revenue of $116.50 million during the quarter, compared to analyst estimates of $119.97 million. First Interstate BancSystem had a return on equity of 9.44% and a net margin of 21.08%. Equities research analysts forecast that First Interstate BancSystem will post $2.29 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Wednesday, August 2nd were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Monday, July 31st. First Interstate BancSystem’s dividend payout ratio (DPR) is 46.38%.

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Institutional investors have recently modified their holdings of the company. Teachers Advisors LLC raised its stake in First Interstate BancSystem by 3.4% in the fourth quarter. Teachers Advisors LLC now owns 44,894 shares of the financial services provider’s stock valued at $1,910,000 after buying an additional 1,489 shares during the last quarter. Granite Investment Partners LLC raised its stake in First Interstate BancSystem by 1.4% in the first quarter. Granite Investment Partners LLC now owns 29,160 shares of the financial services provider’s stock valued at $1,156,000 after buying an additional 416 shares during the last quarter. First National Bank of Hutchinson acquired a new stake in First Interstate BancSystem during the first quarter valued at approximately $252,000. OLD National Bancorp IN raised its stake in First Interstate BancSystem by 15.9% in the first quarter. OLD National Bancorp IN now owns 9,075 shares of the financial services provider’s stock valued at $360,000 after buying an additional 1,242 shares during the last quarter. Finally, Chicago Equity Partners LLC raised its stake in First Interstate BancSystem by 46.3% in the first quarter. Chicago Equity Partners LLC now owns 86,175 shares of the financial services provider’s stock valued at $3,417,000 after buying an additional 27,275 shares during the last quarter. 41.10% of the stock is owned by institutional investors and hedge funds.

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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