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

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have received an average rating of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $33.50.

Several research analysts have weighed in on FIBK shares. Barclays lifted their target price on First Interstate BancSystem from $31.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday. StockNews.com lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Friday, September 20th. Wells Fargo & Company lifted their target price on First Interstate BancSystem from $25.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. DA Davidson lifted their target price on First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods lifted their target price on First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, July 29th.

Institutional Trading of First Interstate BancSystem

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC raised its holdings in First Interstate BancSystem by 205.3% during the fourth quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 856 shares in the last quarter. CWM LLC raised its holdings in First Interstate BancSystem by 16.0% during the second quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 430 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in First Interstate BancSystem by 28.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,378 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 744 shares in the last quarter. Innealta Capital LLC bought a new stake in First Interstate BancSystem during the second quarter worth about $106,000. Finally, nVerses Capital LLC raised its holdings in First Interstate BancSystem by 412.5% during the second quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 3,300 shares in the last quarter. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Stock Up 0.5 %

Shares of First Interstate BancSystem stock opened at $30.37 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.92. First Interstate BancSystem has a 12 month low of $20.81 and a 12 month high of $33.00. The business has a fifty day simple moving average of $30.05 and a 200 day simple moving average of $27.96. The stock has a market cap of $3.18 billion, a PE ratio of 12.10 and a beta of 0.82.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. First Interstate BancSystem had a return on equity of 8.19% and a net margin of 17.22%. The business had revenue of $244.30 million during the quarter, compared to analysts’ expectations of $246.07 million. During the same period in the previous year, the firm earned $0.66 earnings per share. Research analysts predict that First Interstate BancSystem will post 2.34 EPS for the current year.

First Interstate BancSystem Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.19%. First Interstate BancSystem’s dividend payout ratio (DPR) is 74.90%.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.