First Interstate BancSystem, Inc. (NASDAQ:FIBK) Given Consensus Recommendation of “Hold” by Brokerages

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

A number of research analysts have weighed in on FIBK shares. DA Davidson reiterated a “buy” rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a research report on Thursday, January 29th. Wall Street Zen upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Stephens lowered First Interstate BancSystem from an “overweight” rating to an “equal weight” rating in a research note on Thursday, February 5th. Barclays reduced their price target on First Interstate BancSystem from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Friday, January 30th. Finally, Weiss Ratings lowered First Interstate BancSystem from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, March 18th.

First Interstate BancSystem Stock Performance

Shares of FIBK stock opened at $33.63 on Thursday. The stock has a market cap of $3.40 billion, a PE ratio of 11.40 and a beta of 0.77. The business has a 50-day simple moving average of $35.87 and a 200-day simple moving average of $34.09. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.09. First Interstate BancSystem has a 52-week low of $22.95 and a 52-week high of $39.26.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Wednesday, January 28th. The financial services provider reported $1.08 EPS for the quarter, topping the consensus estimate of $0.64 by $0.44. The firm had revenue of $205.10 million for the quarter, compared to analyst estimates of $256.89 million. First Interstate BancSystem had a return on equity of 8.83% and a net margin of 21.40%.First Interstate BancSystem’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period last year, the company earned $0.50 earnings per share. On average, equities analysts expect that First Interstate BancSystem will post 2.53 EPS 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 issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend was Tuesday, February 10th. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 63.73%.

Insider Activity

In other news, major shareholder Jonathan R. Scott sold 1,827 shares of the business’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $36.92, for a total transaction of $67,452.84. Following the completion of the sale, the insider owned 936,024 shares of the company’s stock, valued at $34,558,006.08. The trade was a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.20% of the stock is currently owned by company insiders.

Institutional Trading of First Interstate BancSystem

Large investors have recently made changes to their positions in the company. AQR Capital Management LLC grew its holdings in shares of First Interstate BancSystem by 37.2% in the first quarter. AQR Capital Management LLC now owns 67,214 shares of the financial services provider’s stock valued at $1,926,000 after purchasing an additional 18,210 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of First Interstate BancSystem by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,230 shares of the financial services provider’s stock worth $1,353,000 after buying an additional 2,070 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of First Interstate BancSystem during the 1st quarter valued at approximately $238,000. Jones Financial Companies Lllp raised its position in shares of First Interstate BancSystem by 24,352.5% during the 1st quarter. Jones Financial Companies Lllp now owns 24,697 shares of the financial services provider’s stock valued at $708,000 after buying an additional 24,596 shares during the period. Finally, Jane Street Group LLC acquired a new position in First Interstate BancSystem in the first quarter valued at approximately $5,125,000. 88.71% of the stock is currently 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.