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

First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) has been assigned a consensus rating of "Hold" from the six brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $32.50.

Several brokerages have recently commented on FIBK. DA Davidson increased their price objective on First Interstate BancSystem from $27.00 to $34.00 and gave the company a "neutral" rating in a research report on Monday, July 29th. Barclays lowered First Interstate BancSystem from an "equal weight" rating to an "underweight" rating and dropped their price objective for the company from $32.00 to $30.00 in a research note on Thursday, October 31st. Piper Sandler decreased their target price on shares of First Interstate BancSystem from $38.00 to $36.00 and set an "overweight" rating on the stock in a research note on Monday, October 28th. StockNews.com lowered shares of First Interstate BancSystem from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Company lowered shares of First Interstate BancSystem from an "equal weight" rating to an "underweight" rating and dropped their target price for the stock from $30.00 to $28.00 in a report on Tuesday, October 1st.

First Interstate BancSystem Price Performance

Shares of NASDAQ:FIBK traded up $1.14 on Monday, hitting $33.91. The company's stock had a trading volume of 182,678 shares, compared to its average volume of 677,726. First Interstate BancSystem has a 1 year low of $22.89 and a 1 year high of $34.53. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.79. The company has a market capitalization of $3.55 billion, a PE ratio of 14.85 and a beta of 0.81. The company has a 50-day simple moving average of $30.75 and a 200 day simple moving average of $29.09.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same quarter in the previous year, the firm posted $0.70 earnings per share. Sell-side 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 will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be issued a $0.47 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.88 annualized dividend and a dividend yield of 5.54%. First Interstate BancSystem's dividend payout ratio (DPR) is 82.46%.

Institutional Trading of First Interstate BancSystem

A number of large investors have recently made changes to their positions in FIBK. BNP Paribas Financial Markets boosted its position in shares of First Interstate BancSystem by 235.6% during the first quarter. BNP Paribas Financial Markets now owns 78,311 shares of the financial services provider's stock valued at $2,131,000 after buying an additional 54,973 shares during the period. SG Americas Securities LLC purchased a new position in First Interstate BancSystem during the 1st quarter valued at $273,000. Swiss National Bank grew its position in First Interstate BancSystem by 6.0% in the 1st quarter. Swiss National Bank now owns 186,546 shares of the financial services provider's stock valued at $5,076,000 after acquiring an additional 10,600 shares during the last quarter. Sei Investments Co. increased its stake in First Interstate BancSystem by 5.8% in the first quarter. Sei Investments Co. now owns 448,158 shares of the financial services provider's stock worth $12,194,000 after purchasing an additional 24,552 shares during the period. Finally, Inspire Investing LLC lifted its position in shares of First Interstate BancSystem by 4.6% during the first quarter. Inspire Investing LLC now owns 13,057 shares of the financial services provider's stock worth $355,000 after purchasing an additional 570 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors.

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.