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

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has received an average rating of “Hold” from the eight brokerages that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $37.00.

A number of analysts have issued reports on FIBK shares. Weiss Ratings raised First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 15th. DA Davidson lowered First Interstate BancSystem from a “buy” rating to a “neutral” rating and lowered their target price for the company from $41.00 to $39.00 in a report on Wednesday, May 27th. UBS Group raised their target price on First Interstate BancSystem from $30.00 to $33.00 and gave the company a “sell” rating in a report on Friday, May 1st. Piper Sandler lowered their target price on First Interstate BancSystem from $44.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. Finally, Wells Fargo & Company raised their target price on First Interstate BancSystem from $30.00 to $36.00 and gave the company an “underweight” rating in a report on Monday, March 30th.

Insider Transactions at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder Jonathan R. Scott sold 12,892 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $35.58, for a total value of $458,697.36. Following the sale, the insider owned 866,628 shares of the company’s stock, valued at $30,834,624.24. This trade represents a 1.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 8.00% of the stock is owned by company insiders.

Institutional Trading of First Interstate BancSystem

Several institutional investors have recently modified their holdings of FIBK. Eurizon Capital SGR S.p.A. acquired a new stake in shares of First Interstate BancSystem during the 4th quarter worth approximately $25,000. Kestra Advisory Services LLC acquired a new stake in shares of First Interstate BancSystem during the 4th quarter worth approximately $29,000. EverSource Wealth Advisors LLC grew its holdings 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 worth $43,000 after purchasing an additional 862 shares in the last quarter. First Horizon Corp grew its holdings in shares of First Interstate BancSystem by 56.0% during the 4th quarter. First Horizon Corp now owns 1,268 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 455 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of First Interstate BancSystem by 1,485.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,601 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Stock Performance

FIBK opened at $35.57 on Tuesday. The firm has a market capitalization of $3.46 billion, a P/E ratio of 11.59 and a beta of 0.76. The stock’s 50 day moving average price is $34.71 and its two-hundred day moving average price is $35.12. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. First Interstate BancSystem has a 12-month low of $25.81 and a 12-month high of $39.26.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Wednesday, April 29th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $5.10 million for the quarter, compared to analyst estimates of $242.78 million. First Interstate BancSystem had a return on equity of 9.13% and a net margin of 22.64%.During the same quarter last year, the firm posted $0.49 EPS. On average, equities analysts forecast that First Interstate BancSystem will post 2.66 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.88 dividend on an annualized basis and a yield of 5.3%. First Interstate BancSystem’s dividend payout ratio (DPR) is 61.24%.

First Interstate BancSystem Company Profile

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.