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

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) have earned a consensus rating of "Hold" from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $33.17.

Several research analysts have commented on FIBK shares. Keefe, Bruyette & Woods boosted their price objective on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the company a "market perform" rating in a research report on Monday, July 29th. Wells Fargo & Company downgraded shares of First Interstate BancSystem from an "equal weight" rating to an "underweight" rating and lowered their price target for the stock from $30.00 to $28.00 in a report on Tuesday, October 1st. StockNews.com downgraded shares of First Interstate BancSystem from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. Barclays upped their price target on shares of First Interstate BancSystem from $31.00 to $32.00 and gave the stock an "equal weight" rating in a report on Friday, September 27th. Finally, DA Davidson upped their price target on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the stock a "neutral" rating in a report on Monday, July 29th.

First Interstate BancSystem Price Performance

Shares of FIBK stock traded up $0.34 during trading on Thursday, hitting $32.84. The company had a trading volume of 459,570 shares, compared to its average volume of 680,718. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market capitalization of $3.43 billion, a P/E ratio of 13.08 and a beta of 0.81. The stock's 50-day moving average price is $29.99 and its 200 day moving average price is $28.34. First Interstate BancSystem has a one year low of $20.81 and a one year high of $33.00.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.55 by $0.03. First Interstate BancSystem had a net margin of 17.22% and a return on equity of 8.19%. The business had revenue of $244.30 million during the quarter, compared to the consensus estimate of $246.07 million. During the same period in the previous year, the business earned $0.66 earnings per share. Equities analysts expect that First Interstate BancSystem will post 2.34 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were issued a $0.47 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.88 dividend on an annualized basis and a yield of 5.72%. First Interstate BancSystem's payout ratio is 74.90%.

Institutional Trading of First Interstate BancSystem

A number of institutional investors and hedge funds have recently bought and sold shares of FIBK. CWM LLC increased its stake in First Interstate BancSystem by 16.0% in the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider's stock valued at $87,000 after buying an additional 430 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in First Interstate BancSystem by 28.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,378 shares of the financial services provider's stock worth $104,000 after buying an additional 744 shares during the period. Innealta Capital LLC bought a new position in First Interstate BancSystem in the 2nd quarter worth approximately $106,000. nVerses Capital LLC boosted its holdings in First Interstate BancSystem by 412.5% in the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider's stock worth $114,000 after buying an additional 3,300 shares during the period. Finally, Washington Trust Bank bought a new position in First Interstate BancSystem in the 2nd quarter worth approximately $204,000. 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.