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

First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) has been assigned an average rating of "Hold" from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $35.00.

A number of analysts have recently issued reports on the stock. Barclays reduced their price objective on shares of First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating for the company in a research note on Tuesday. StockNews.com raised First Interstate BancSystem from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Wells Fargo & Company lowered their price objective on First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating on the stock in a research report on Wednesday. Piper Sandler cut their target price on First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Finally, UBS Group started coverage on First Interstate BancSystem in a report on Tuesday, December 17th. They issued a "neutral" rating and a $35.00 price target on the stock.

View Our Latest Stock Analysis on FIBK

First Interstate BancSystem Stock Performance

NASDAQ:FIBK opened at $26.01 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a 50-day simple moving average of $29.55 and a two-hundred day simple moving average of $31.40. The firm has a market capitalization of $2.72 billion, a PE ratio of 11.88 and a beta of 0.81. First Interstate BancSystem has a 52-week low of $22.95 and a 52-week high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. Analysts forecast that First Interstate BancSystem will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Monday, February 10th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 7.23%. The ex-dividend date was Monday, February 10th. First Interstate BancSystem's dividend payout ratio is presently 85.84%.

Insider Transactions at First Interstate BancSystem

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $32.56, for a total transaction of $43,467.60. Following the sale, the director now directly owns 1,414,886 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.90% of the company's stock.

Institutional Investors Weigh In On First Interstate BancSystem

Several large investors have recently added to or reduced their stakes in FIBK. Vanguard Group Inc. boosted its holdings in shares of First Interstate BancSystem by 6.8% in the 4th quarter. Vanguard Group Inc. now owns 9,229,785 shares of the financial services provider's stock worth $299,691,000 after purchasing an additional 587,975 shares during the period. FMR LLC lifted its position in First Interstate BancSystem by 35.5% in the fourth quarter. FMR LLC now owns 6,786,334 shares of the financial services provider's stock worth $220,352,000 after buying an additional 1,778,269 shares during the last quarter. Franklin Resources Inc. boosted its stake in First Interstate BancSystem by 2.7% during the fourth quarter. Franklin Resources Inc. now owns 5,474,757 shares of the financial services provider's stock worth $177,765,000 after buying an additional 145,842 shares during the period. Dimensional Fund Advisors LP increased its position in First Interstate BancSystem by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,045,741 shares of the financial services provider's stock valued at $163,836,000 after acquiring an additional 138,050 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of First Interstate BancSystem by 3.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,936,868 shares of the financial services provider's stock valued at $95,360,000 after acquiring an additional 107,774 shares during the period. 88.71% of the stock is owned by institutional investors.

About First Interstate BancSystem

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.

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