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

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has been given an average recommendation of “Hold” by the seven brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $36.14.

Several equities research analysts recently weighed in on FIBK shares. Piper Sandler reduced their price objective on shares of First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their price target on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. DA Davidson reiterated a “buy” rating and set a $42.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Barclays boosted their target price on First Interstate BancSystem from $30.00 to $31.00 and gave the stock an “underweight” rating in a report on Thursday, December 5th. Finally, StockNews.com raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd.

Insider Transactions at First Interstate BancSystem

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

Institutional Investors Weigh In On First Interstate BancSystem

Several hedge funds have recently bought and sold shares of FIBK. FMR LLC grew its stake in First Interstate BancSystem by 35.5% during the 4th quarter. FMR LLC now owns 6,786,334 shares of the financial services provider’s stock valued at $220,352,000 after acquiring an additional 1,778,269 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of First Interstate BancSystem by 88.3% during the fourth quarter. Wellington Management Group LLP now owns 2,425,615 shares of the financial services provider’s stock worth $78,760,000 after purchasing an additional 1,137,401 shares during the period. Victory Capital Management Inc. grew its position in First Interstate BancSystem by 309.9% during the fourth quarter. Victory Capital Management Inc. now owns 1,270,296 shares of the financial services provider’s stock valued at $41,247,000 after purchasing an additional 960,372 shares in the last quarter. Norges Bank acquired a new position in First Interstate BancSystem in the 4th quarter valued at approximately $24,137,000. Finally, Jennison Associates LLC increased its stake in First Interstate BancSystem by 73.9% in the 4th quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider’s stock valued at $50,020,000 after buying an additional 654,688 shares during the period. 88.71% of the stock is owned by hedge funds and other institutional investors.

First Interstate BancSystem Stock Performance

Shares of NASDAQ FIBK opened at $28.63 on Friday. First Interstate BancSystem has a 12-month low of $24.16 and a 12-month high of $36.77. The company has a market cap of $2.99 billion, a PE ratio of 13.07 and a beta of 0.84. The stock has a 50 day simple moving average of $31.23 and a 200-day simple moving average of $31.75. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. On average, equities research analysts forecast that First Interstate BancSystem will post 2.53 EPS for the current year.

First Interstate BancSystem Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date was Monday, February 10th. First Interstate BancSystem’s dividend payout ratio 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.