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

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has received an average rating of “Hold” from the five analysts that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $30.20.

A number of brokerages have issued reports on FIBK. StockNews.com lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Wednesday. Barclays raised their price target on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Piper Sandler upped their price objective on First Interstate BancSystem from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Keefe, Bruyette & Woods lifted their target price on First Interstate BancSystem from $28.00 to $29.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Finally, Wells Fargo & Company boosted their target price on First Interstate BancSystem from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th.

First Interstate BancSystem Stock Performance

FIBK stock opened at $27.11 on Monday. First Interstate BancSystem has a 52-week low of $20.81 and a 52-week high of $32.54. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.90. The firm has a market cap of $2.83 billion, a P/E ratio of 10.71 and a beta of 0.85. The company’s 50-day simple moving average is $26.56 and its 200-day simple moving average is $27.24.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. First Interstate BancSystem had a return on equity of 8.51% and a net margin of 17.76%. The firm had revenue of $242.20 million for the quarter, compared to analyst estimates of $236.80 million. As a group, equities analysts forecast that First Interstate BancSystem will post 2.28 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 6th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 6.93%. The ex-dividend date of this dividend was Friday, May 3rd. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 74.90%.

Insider Transactions at First Interstate BancSystem

In other First Interstate BancSystem news, insider Lorrie F. Asker sold 1,921 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $26.05, for a total value of $50,042.05. Following the transaction, the insider now directly owns 6,909 shares of the company’s stock, valued at $179,979.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other First Interstate BancSystem news, EVP Karlyn M. Knieriem sold 2,900 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $26.76, for a total transaction of $77,604.00. Following the completion of the sale, the executive vice president now owns 20,599 shares in the company, valued at $551,229.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Lorrie F. Asker sold 1,921 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $26.05, for a total transaction of $50,042.05. Following the sale, the insider now owns 6,909 shares in the company, valued at approximately $179,979.45. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Several large investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC lifted its position in First Interstate BancSystem by 132.8% in the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 530 shares during the period. Wolverine Asset Management LLC acquired a new stake in shares of First Interstate BancSystem in the fourth quarter valued at $39,000. Parallel Advisors LLC boosted its holdings in shares of First Interstate BancSystem by 205.3% in the fourth quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock worth $39,000 after buying an additional 856 shares during the period. CWM LLC increased its position in shares of First Interstate BancSystem by 42.1% in the fourth quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 702 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of First Interstate BancSystem during the third quarter valued at approximately $81,000. 88.71% of the stock is currently owned by institutional investors and hedge funds.

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.