First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives Average Rating of "Hold" from Analysts

First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) has been given an average rating of "Hold" by the seven analysts that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $35.00.

A number of research analysts recently weighed in on FIBK shares. UBS Group assumed coverage on shares of First Interstate BancSystem in a research note on Tuesday, December 17th. They set a "neutral" rating and a $35.00 target price on the stock. 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, April 9th. DA Davidson reiterated a "buy" rating and set a $42.00 target price on shares of First Interstate BancSystem in a research report on Thursday, January 30th. Barclays lowered their price target on First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Finally, Stephens cut their price objective on shares of First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating for the company in a report on Friday, January 31st.

First Interstate BancSystem Stock Performance

NASDAQ:FIBK traded up $1.04 during mid-day trading on Thursday, hitting $25.79. 1,473,253 shares of the company traded hands, compared to its average volume of 635,727. The stock's fifty day moving average price is $28.93 and its 200-day moving average price is $31.26. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem has a one year low of $22.95 and a one year high of $36.77. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 11.78 and a beta of 0.81.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. Research analysts anticipate that First Interstate BancSystem will post 2.53 earnings per share for the current fiscal 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 7.29%. The ex-dividend date of this dividend was Monday, February 10th. First Interstate BancSystem's dividend payout ratio is presently 85.84%.

Insider Transactions at First Interstate BancSystem

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the company's stock in a transaction on 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 owns 1,414,886 shares of the company's stock, valued at $46,068,688.16. This represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 6.90% of the company's stock.

Institutional Trading of First Interstate BancSystem

A number of large investors have recently made changes to their positions in FIBK. FMR LLC lifted its holdings in shares of First Interstate BancSystem by 35.5% in the 4th 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 last quarter. Wellington Management Group LLP raised its position in First Interstate BancSystem by 88.3% during 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 purchasing an additional 1,137,401 shares during the period. Victory Capital Management Inc. lifted its stake in shares of First Interstate BancSystem by 309.9% in the 4th quarter. Victory Capital Management Inc. now owns 1,270,296 shares of the financial services provider's stock valued at $41,247,000 after purchasing an additional 960,372 shares during the last quarter. Norges Bank purchased a new position in shares of First Interstate BancSystem in the 4th quarter worth approximately $24,137,000. Finally, Jennison Associates LLC increased its position in shares of First Interstate BancSystem by 73.9% during the 4th quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider's stock valued at $50,020,000 after purchasing an additional 654,688 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.