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

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has received an average rating of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $37.00.

A number of brokerages recently issued reports on FIBK. Wells Fargo & Company lifted their price target on shares of First Interstate BancSystem from $30.00 to $36.00 and gave the stock an “underweight” rating in a research note on Monday, March 30th. Wall Street Zen upgraded shares of First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Weiss Ratings upgraded shares of First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 15th. UBS Group lifted their price target on shares of First Interstate BancSystem from $30.00 to $33.00 and gave the stock a “sell” rating in a research note on Friday, May 1st. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $37.00 price target (down from $38.00) on shares of First Interstate BancSystem in a research note on Friday, May 1st.

Insider Activity

In other First Interstate BancSystem news, major shareholder Jonathan R. Scott sold 12,892 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $35.58, for a total transaction of $458,697.36. Following the completion of the sale, the insider owned 866,628 shares in the company, valued at $30,834,624.24. The trade was a 1.47% 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. Company insiders own 8.00% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Several institutional investors have recently added to or reduced their stakes in FIBK. Dimensional Fund Advisors LP boosted its holdings in shares of First Interstate BancSystem by 1.5% during the third quarter. Dimensional Fund Advisors LP now owns 5,495,403 shares of the financial services provider’s stock valued at $175,140,000 after acquiring an additional 78,835 shares during the period. HoldCo Asset Management LP boosted its holdings in shares of First Interstate BancSystem by 10.6% during the third quarter. HoldCo Asset Management LP now owns 3,950,107 shares of the financial services provider’s stock valued at $125,890,000 after acquiring an additional 380,000 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new position in shares of First Interstate BancSystem during the third quarter valued at $2,115,000. Cambria Investment Management L.P. acquired a new position in shares of First Interstate BancSystem during the third quarter valued at $9,083,000. Finally, Vestmark Advisory Solutions Inc. acquired a new position in shares of First Interstate BancSystem during the third quarter valued at $895,000. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Trading Up 1.5%

FIBK opened at $37.11 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. The firm’s 50 day moving average is $34.97 and its 200-day moving average is $35.25. The firm has a market capitalization of $3.60 billion, a P/E ratio of 12.09 and a beta of 0.76. First Interstate BancSystem has a 52-week low of $25.81 and a 52-week high of $39.26.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $5.10 million during the quarter, compared to analyst estimates of $242.78 million. First Interstate BancSystem had a net margin of 22.64% and a return on equity of 9.13%. During the same quarter in the previous year, the firm earned $0.49 earnings per share. Analysts expect that First Interstate BancSystem will post 2.66 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date was Monday, May 11th. First Interstate BancSystem’s payout ratio is 61.24%.

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.