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

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has been given a consensus recommendation of “Hold” by the eight research firms that are covering the company, Marketbeat.com reports. One 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 1-year target price among analysts that have issued ratings on the stock in the last year is $38.1667.

FIBK has been the topic of a number of recent analyst reports. DA Davidson restated a “buy” rating and issued a $42.00 price target on shares of First Interstate BancSystem in a report on Thursday, January 29th. Keefe, Bruyette & Woods increased their target price on shares of First Interstate BancSystem from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, December 17th. UBS Group restated a “neutral” rating and issued a $38.00 target price on shares of First Interstate BancSystem in a research note on Wednesday, February 4th. Piper Sandler lifted their price target on shares of First Interstate BancSystem from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Finally, Barclays reduced their price target on First Interstate BancSystem from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Friday, January 30th.

Insider Activity at First Interstate BancSystem

In other news, major shareholder Jonathan R. Scott sold 1,827 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $36.92, for a total transaction of $67,452.84. Following the sale, the insider directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On First Interstate BancSystem

A number of large investors have recently bought and sold shares of FIBK. Northern Capital Management Inc. increased its holdings in First Interstate BancSystem by 0.5% in the 4th quarter. Northern Capital Management Inc. now owns 52,100 shares of the financial services provider’s stock worth $1,803,000 after buying an additional 275 shares during the period. HighTower Advisors LLC lifted its stake in First Interstate BancSystem by 2.7% during the 4th quarter. HighTower Advisors LLC now owns 14,177 shares of the financial services provider’s stock valued at $491,000 after acquiring an additional 375 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of First Interstate BancSystem by 0.4% in the 3rd quarter. Alliancebernstein L.P. now owns 108,600 shares of the financial services provider’s stock valued at $3,461,000 after acquiring an additional 397 shares during the last quarter. First Horizon Corp boosted its holdings in shares of First Interstate BancSystem by 56.0% in the 4th quarter. First Horizon Corp now owns 1,268 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 455 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of First Interstate BancSystem by 49.6% in the fourth quarter. GAMMA Investing LLC now owns 1,556 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 516 shares during the period. Hedge funds and other institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Price Performance

NASDAQ FIBK opened at $33.63 on Thursday. The company has a market cap of $3.40 billion, a PE ratio of 11.40 and a beta of 0.77. The firm’s 50 day moving average price is $35.87 and its 200-day moving average price is $34.09. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.72 and a current ratio of 0.72. 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 issued its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.44. First Interstate BancSystem had a return on equity of 8.83% and a net margin of 21.40%.The firm had revenue of $205.10 million during the quarter, compared to analysts’ expectations of $256.89 million. During the same period in the prior year, the business posted $0.50 EPS. The firm’s quarterly revenue was up 19.8% on a year-over-year basis. Sell-side analysts forecast that First Interstate BancSystem will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently declared 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 yield of 5.6%. First Interstate BancSystem’s dividend payout ratio is presently 63.73%.

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.