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

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have earned an average rating of “Hold” from the eight research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $38.1667.

FIBK has been the subject of several research analyst reports. Wall Street Zen cut First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Sunday, February 15th. Keefe, Bruyette & Woods raised their price target on shares of First Interstate BancSystem from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. DA Davidson reaffirmed a “buy” rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a report on Thursday, January 29th. Piper Sandler increased their price objective on shares of First Interstate BancSystem from $41.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of First Interstate BancSystem in a report on Monday, December 29th.

First Interstate BancSystem Trading Down 5.9%

NASDAQ FIBK opened at $34.61 on Friday. First Interstate BancSystem has a 12-month low of $22.95 and a 12-month high of $39.26. The company has a fifty day simple moving average of $36.74 and a two-hundred day simple moving average of $33.83. The company has a current ratio of 0.73, a quick ratio of 0.72 and a debt-to-equity ratio of 0.09. The stock has a market cap of $3.56 billion, a P/E ratio of 11.73 and a beta of 0.80.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Wednesday, January 28th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.44. The firm had revenue of $205.10 million for the quarter, compared to the consensus estimate of $256.89 million. First Interstate BancSystem had a return on equity of 8.83% and a net margin of 17.62%.The firm’s revenue was up 19.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 EPS. On average, analysts forecast that First Interstate BancSystem will post 2.53 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Tuesday, February 10th were paid a dividend of $0.47 per share. The ex-dividend date was Tuesday, February 10th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.4%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 63.73%.

Insider Transactions at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Susan Scott Heyneman Trust, Su sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $32.75, for a total value of $327,500.00. Following the completion of the transaction, the insider directly owned 224,460 shares of the company’s stock, valued at approximately $7,351,065. The trade was a 4.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Jonathan R. Scott sold 1,827 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $36.92, for a total value of $67,452.84. Following the completion of the sale, the insider owned 936,024 shares in the company, valued at approximately $34,558,006.08. This represents a 0.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 15,000 shares of company stock worth $509,815 in the last 90 days. Company insiders own 8.20% of the company’s stock.

Institutional Trading of First Interstate BancSystem

A number of hedge funds have recently added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. acquired a new stake in First Interstate BancSystem during the fourth quarter valued at $25,000. First Horizon Corp acquired a new position in shares of First Interstate BancSystem in the third quarter worth about $26,000. Kestra Advisory Services LLC acquired a new position in shares of First Interstate BancSystem in the fourth quarter worth about $29,000. EverSource Wealth Advisors LLC grew its position in shares of First Interstate BancSystem by 139.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 862 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of First Interstate BancSystem by 49.6% in the 4th quarter. GAMMA Investing LLC now owns 1,556 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 516 shares in the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

About First Interstate BancSystem

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.