First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives $34.43 Consensus Target Price from Analysts

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have earned a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $34.43.

FIBK has been the subject of several research reports. Wells Fargo & Company lowered their target price on First Interstate BancSystem from $30.00 to $25.00 and set an “underweight” rating for the company in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods raised First Interstate BancSystem from a “hold” rating to a “moderate buy” rating and set a $32.00 target price for the company in a research note on Monday. Wall Street Zen raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Saturday, May 10th. Finally, Barclays decreased their price objective on First Interstate BancSystem from $31.00 to $28.00 and set an “underweight” rating for the company in a research note on Tuesday, April 8th.

First Interstate BancSystem Stock Up 3.1%

NASDAQ FIBK opened at $29.01 on Tuesday. The stock has a fifty day moving average of $27.13 and a 200-day moving average of $29.42. The stock has a market capitalization of $3.04 billion, a P/E ratio of 13.75 and a beta of 0.79. First Interstate BancSystem has a 52 week low of $22.95 and a 52 week high of $36.77. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.77 and a current ratio of 0.77.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Tuesday, April 29th. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). The firm had revenue of $42.00 million during the quarter, compared to analyst estimates of $253.50 million. First Interstate BancSystem had a net margin of 14.93% and a return on equity of 6.57%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the business posted $0.57 earnings per share. On average, equities research analysts forecast that First Interstate BancSystem will post 2.53 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 12th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, May 12th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.48%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 89.10%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIBK. FMR LLC grew its stake 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 valued at $220,352,000 after acquiring an additional 1,778,269 shares during the period. Nuveen LLC acquired a new position in First Interstate BancSystem in the first quarter valued at about $32,796,000. Wellington Management Group LLP grew its stake in First Interstate BancSystem by 88.3% in the fourth quarter. Wellington Management Group LLP now owns 2,425,615 shares of the financial services provider’s stock valued at $78,760,000 after acquiring an additional 1,137,401 shares during the period. Victory Capital Management Inc. grew its stake in First Interstate BancSystem by 309.9% in 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 acquiring an additional 960,372 shares during the period. Finally, Norges Bank acquired a new position in First Interstate BancSystem in the fourth quarter valued at about $24,137,000. 88.71% of the stock is owned by institutional investors and hedge funds.

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.