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

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have earned a consensus rating of “Hold” from the seven research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $35.00.

Several equities research analysts recently issued reports on FIBK shares. Barclays dropped their target price on shares of First Interstate BancSystem from $31.00 to $28.00 and set an “underweight” rating on the stock in a report on Tuesday, April 8th. Piper Sandler cut their price objective on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. StockNews.com upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Stephens dropped their target price on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, UBS Group initiated coverage on shares of First Interstate BancSystem in a research report on Tuesday, December 17th. They set a “neutral” rating and a $35.00 price target for the company.

Insiders Place Their Bets

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $32.56, for a total value of $43,467.60. Following the completion of the transaction, the director now owns 1,414,886 shares of the company’s stock, valued at approximately $46,068,688.16. This represents a 0.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 6.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Interstate BancSystem

Large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its position in shares of First Interstate BancSystem by 97.0% during the third quarter. BNP Paribas Financial Markets now owns 31,779 shares of the financial services provider’s stock worth $975,000 after purchasing an additional 15,649 shares in the last quarter. Jane Street Group LLC grew its holdings in First Interstate BancSystem by 13.9% during the 3rd quarter. Jane Street Group LLC now owns 188,084 shares of the financial services provider’s stock valued at $5,770,000 after buying an additional 22,899 shares in the last quarter. Swiss National Bank raised its position in shares of First Interstate BancSystem by 0.5% during the fourth quarter. Swiss National Bank now owns 185,046 shares of the financial services provider’s stock valued at $6,008,000 after buying an additional 1,000 shares during the last quarter. Barclays PLC raised its position in shares of First Interstate BancSystem by 18.6% during the third quarter. Barclays PLC now owns 206,213 shares of the financial services provider’s stock valued at $6,326,000 after buying an additional 32,298 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of First Interstate BancSystem by 37,734.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 141,502 shares of the financial services provider’s stock worth $4,595,000 after buying an additional 141,128 shares in the last quarter. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

First Interstate BancSystem Stock Performance

Shares of FIBK stock opened at $24.75 on Thursday. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 11.30 and a beta of 0.81. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. First Interstate BancSystem has a one year low of $22.95 and a one year high of $36.77. The company’s 50-day moving average is $29.08 and its 200 day moving average is $31.29.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. Sell-side analysts expect that First Interstate BancSystem will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Monday, February 10th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.60%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 85.84%.

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.