First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives Average Rating of “Buy” from Analysts

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBKGet Rating) have earned a consensus recommendation of “Buy” from the six research firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $42.75.

Several research analysts have commented on the stock. Janney Montgomery Scott upgraded shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and set a $42.00 target price for the company in a report on Tuesday, May 3rd. Keefe, Bruyette & Woods upgraded shares of First Interstate BancSystem from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a report on Monday, May 2nd. Zacks Investment Research upgraded shares of First Interstate BancSystem from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Friday, April 8th. Finally, StockNews.com upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Tuesday, May 3rd.

Shares of FIBK traded down $0.89 during midday trading on Tuesday, hitting $33.86. The stock had a trading volume of 657,492 shares, compared to its average volume of 930,483. First Interstate BancSystem has a fifty-two week low of $32.40 and a fifty-two week high of $47.87. The stock’s 50-day moving average price is $36.34. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 17.64 and a beta of 1.04. The company has a current ratio of 0.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.10.

First Interstate BancSystem (NASDAQ:FIBKGet Rating) last announced its earnings results on Thursday, April 28th. The financial services provider reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.05). First Interstate BancSystem had a return on equity of 8.40% and a net margin of 29.28%. During the same quarter last year, the firm earned $0.83 earnings per share. On average, equities analysts anticipate that First Interstate BancSystem will post 2.61 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 20th. Investors of record on Monday, May 9th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 4.84%. The ex-dividend date is Friday, May 6th. First Interstate BancSystem’s dividend payout ratio is currently 85.42%.

In related news, Director Jonathan R. Scott sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $39.00, for a total transaction of $195,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jonathan R. Scott sold 12,850 shares of First Interstate BancSystem stock in a transaction that occurred on Thursday, March 10th. The shares were sold at an average price of $38.90, for a total transaction of $499,865.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,634 shares of company stock worth $841,767. Insiders own 6.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in FIBK. Envestnet Asset Management Inc. grew its stake in shares of First Interstate BancSystem by 11.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 83,533 shares of the financial services provider’s stock worth $3,397,000 after acquiring an additional 8,374 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of First Interstate BancSystem in the third quarter worth $46,266,000. Trexquant Investment LP acquired a new stake in shares of First Interstate BancSystem in the third quarter worth $276,000. Heartland Advisors Inc. grew its stake in shares of First Interstate BancSystem by 83.7% in the fourth quarter. Heartland Advisors Inc. now owns 292,187 shares of the financial services provider’s stock worth $11,883,000 after acquiring an additional 133,089 shares during the last quarter. Finally, Credit Suisse AG grew its stake in shares of First Interstate BancSystem by 12.1% in the third quarter. Credit Suisse AG now owns 37,879 shares of the financial services provider’s stock worth $1,526,000 after acquiring an additional 4,096 shares during the last quarter. 69.42% of the stock is currently owned by institutional investors.

First Interstate BancSystem Company Profile (Get Rating)

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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First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives Average Rating of “Buy” from Analysts

First Interstate BancSystem, Inc. (NASDAQ:FIBKGet Rating) has been assigned an average rating of “Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $42.75.

Several analysts recently commented on FIBK shares. Keefe, Bruyette & Woods upgraded shares of First Interstate BancSystem from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Monday, May 2nd. StockNews.com raised shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Janney Montgomery Scott raised shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Tuesday, May 3rd. Finally, Zacks Investment Research raised shares of First Interstate BancSystem from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Friday, April 8th.

In other news, insider Philip G. Gaglia sold 1,863 shares of the firm’s stock in a transaction on Thursday, March 10th. The shares were sold at an average price of $38.70, for a total value of $72,098.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jonathan R. Scott sold 12,850 shares of the firm’s stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $38.90, for a total transaction of $499,865.00. The disclosure for this sale can be found here. In the last three months, insiders sold 21,634 shares of company stock worth $841,767. Insiders own 6.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. First Trust Advisors LP boosted its stake in First Interstate BancSystem by 12.5% during the first quarter. First Trust Advisors LP now owns 135,208 shares of the financial services provider’s stock worth $5,384,000 after buying an additional 15,019 shares in the last quarter. SG Americas Securities LLC acquired a new stake in First Interstate BancSystem during the third quarter worth $342,000. Victory Capital Management Inc. boosted its stake in First Interstate BancSystem by 1,204.9% during the third quarter. Victory Capital Management Inc. now owns 152,403 shares of the financial services provider’s stock worth $6,136,000 after buying an additional 140,724 shares in the last quarter. Raymond James & Associates boosted its stake in First Interstate BancSystem by 50.7% during the third quarter. Raymond James & Associates now owns 9,129 shares of the financial services provider’s stock worth $368,000 after buying an additional 3,073 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in First Interstate BancSystem by 3.0% during the third quarter. Deutsche Bank AG now owns 35,582 shares of the financial services provider’s stock worth $1,432,000 after buying an additional 1,043 shares in the last quarter. Institutional investors and hedge funds own 69.42% of the company’s stock.

Shares of FIBK stock traded down $0.89 during trading on Tuesday, hitting $33.86. 657,492 shares of the company were exchanged, compared to its average volume of 930,483. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.67 and a quick ratio of 0.66. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 17.64 and a beta of 1.04. The business’s 50-day moving average is $36.34. First Interstate BancSystem has a twelve month low of $32.40 and a twelve month high of $47.87.

First Interstate BancSystem (NASDAQ:FIBKGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The financial services provider reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.05). First Interstate BancSystem had a return on equity of 8.40% and a net margin of 29.28%. During the same quarter last year, the firm earned $0.83 EPS. On average, equities analysts predict that First Interstate BancSystem will post 2.61 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 20th. Investors of record on Monday, May 9th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 4.84%. The ex-dividend date of this dividend is Friday, May 6th. First Interstate BancSystem’s payout ratio is presently 85.42%.

About First Interstate BancSystem (Get Rating)

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.

See Also

Receive News & Ratings for First Interstate BancSystem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Interstate BancSystem and related companies with MarketBeat.com's FREE daily email newsletter.