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

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has been assigned a consensus rating of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $30.20.

Several analysts have commented on FIBK shares. Barclays boosted their target price on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Piper Sandler boosted their target price on shares of First Interstate BancSystem from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday. TheStreet downgraded shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. Stephens reissued an “overweight” rating and issued a $32.00 target price on shares of First Interstate BancSystem in a research report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th.

Insider Buying and Selling

In related news, EVP Karlyn M. Knieriem sold 2,900 shares of the company’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 transaction, the executive vice president now directly owns 20,599 shares in the company, valued at approximately $551,229.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Karlyn M. Knieriem sold 2,900 shares of the company’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 transaction, the executive vice president now directly owns 20,599 shares in the company, valued at approximately $551,229.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kristina Robbins sold 2,710 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total transaction of $69,999.30. Following the transaction, the executive vice president now owns 9,047 shares of the company’s stock, valued at $233,684.01. The disclosure for this sale can be found here. In the last three months, insiders sold 7,531 shares of company stock valued at $197,645. Company insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On First Interstate BancSystem

Large investors have recently bought and sold shares of the stock. abrdn plc raised its stake in shares of First Interstate BancSystem by 8.4% in the 4th quarter. abrdn plc now owns 923,489 shares of the financial services provider’s stock valued at $28,397,000 after buying an additional 71,839 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of First Interstate BancSystem by 11.3% in the 3rd quarter. Wellington Management Group LLP now owns 2,828,658 shares of the financial services provider’s stock valued at $70,547,000 after buying an additional 286,160 shares in the last quarter. FMR LLC raised its stake in shares of First Interstate BancSystem by 0.4% in the 3rd quarter. FMR LLC now owns 6,451,758 shares of the financial services provider’s stock valued at $160,907,000 after buying an additional 28,343 shares in the last quarter. American Century Companies Inc. raised its stake in shares of First Interstate BancSystem by 4.1% in the 3rd quarter. American Century Companies Inc. now owns 2,224,365 shares of the financial services provider’s stock valued at $55,476,000 after buying an additional 87,039 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of First Interstate BancSystem by 99.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,870 shares of the financial services provider’s stock valued at $150,000 after buying an additional 2,430 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

First Interstate BancSystem Stock Performance

Shares of FIBK opened at $27.46 on Thursday. The company’s 50 day moving average price is $26.15 and its 200 day moving average price is $26.76. First Interstate BancSystem has a 52 week low of $20.81 and a 52 week high of $32.54. The company has a market capitalization of $2.85 billion, a PE ratio of 10.94 and a beta of 0.87. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.76 and a current ratio of 0.77.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $252.30 million for the quarter, compared to the consensus estimate of $254.50 million. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.55%. Research analysts expect that First Interstate BancSystem will post 2.18 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Monday, May 6th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 6.85%. The ex-dividend date is Friday, May 3rd. First Interstate BancSystem’s dividend payout ratio is currently 74.90%.

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.