First Interstate BancSystem (NASDAQ:FIBK) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of First Interstate BancSystem (NASDAQ:FIBK) from a sell rating to a hold rating in a research report released on Saturday.

Other analysts have also issued research reports about the stock. Piper Sandler lifted their price objective on shares of First Interstate BancSystem from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. UBS Group reaffirmed a “neutral” rating and set a $38.00 price target on shares of First Interstate BancSystem in a report on Wednesday, February 4th. Weiss Ratings raised shares of First Interstate BancSystem from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. DA Davidson reiterated a “buy” rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a report on Thursday, January 29th. Finally, Barclays decreased their price objective on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “equal weight” rating for the company in a research report on Friday, January 30th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.17.

First Interstate BancSystem Price Performance

Shares of NASDAQ FIBK opened at $34.19 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.72 and a quick ratio of 0.72. First Interstate BancSystem has a 1-year low of $22.95 and a 1-year high of $39.26. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 11.59 and a beta of 0.77. The business has a 50-day moving average of $36.64 and a 200-day moving average of $33.99.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Wednesday, January 28th. The financial services provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.64 by $0.44. The business had revenue of $205.10 million for the quarter, compared to the consensus estimate of $256.89 million. First Interstate BancSystem had a return on equity of 8.83% and a net margin of 21.40%.The company’s revenue was up 19.8% on a year-over-year basis. During the same period last year, the business posted $0.50 EPS. On average, equities analysts anticipate that First Interstate BancSystem will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Tuesday, February 10th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Tuesday, February 10th. First Interstate BancSystem’s dividend payout ratio is 63.73%.

Insider Buying and Selling at First Interstate BancSystem

In other news, major shareholder Jonathan R. Scott sold 1,827 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $36.92, for a total value of $67,452.84. Following the sale, the insider owned 936,024 shares in the company, valued at approximately $34,558,006.08. This represents a 0.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.20% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Institutional investors and hedge funds have recently bought and sold shares of the company. Vestmark Advisory Solutions Inc. acquired a new position in First Interstate BancSystem in the third quarter valued at approximately $895,000. Norges Bank bought a new position in shares of First Interstate BancSystem during the second quarter valued at approximately $29,082,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of First Interstate BancSystem during the 3rd quarter worth approximately $2,115,000. HoldCo Asset Management LP bought a new stake in shares of First Interstate BancSystem in the 2nd quarter worth approximately $102,890,000. Finally, Vanguard Group Inc. lifted its holdings in shares of First Interstate BancSystem by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 8,833,965 shares of the financial services provider’s stock worth $281,538,000 after purchasing an additional 64,371 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.