First Interstate BancSystem Inc. (NASDAQ:FIBK) was upgraded by investment analysts at Sandler O’Neill from a “hold” rating to a “buy” rating in a report issued on Monday.

Several other brokerages have also issued reports on FIBK. Barclays PLC increased their price target on First Interstate BancSystem from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, October 11th. Zacks Investment Research upgraded First Interstate BancSystem from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Tuesday, October 25th. Finally, FIG Partners reiterated a “market perform” rating on shares of First Interstate BancSystem in a report on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $33.33.

Analyst Recommendations for First Interstate BancSystem (NASDAQ:FIBK)

First Interstate BancSystem (NASDAQ:FIBK) opened at 36.70 on Monday. First Interstate BancSystem has a 52-week low of $24.92 and a 52-week high of $38.75. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 17.56 and a beta of 0.97. The firm’s 50 day moving average price is $33.27 and its 200 day moving average price is $30.22.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Monday, October 24th. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.54 by $0.04. First Interstate BancSystem had a return on equity of 9.66% and a net margin of 22.52%. Equities research analysts anticipate that First Interstate BancSystem will post $2.14 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, October 31st were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Thursday, October 27th. This is a positive change from First Interstate BancSystem’s previous quarterly dividend of $0.20. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 42.11%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Emerald Acquisition Ltd. bought a new position in First Interstate BancSystem during the second quarter worth $4,937,000. Prudential Financial Inc. increased its stake in shares of First Interstate BancSystem by 2.2% in the second quarter. Prudential Financial Inc. now owns 414,743 shares of the financial services provider’s stock worth $11,654,000 after buying an additional 9,000 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of First Interstate BancSystem by 77.3% in the second quarter. Victory Capital Management Inc. now owns 4,199 shares of the financial services provider’s stock worth $118,000 after buying an additional 1,831 shares during the last quarter. First Interstate Bank increased its stake in shares of First Interstate BancSystem by 0.8% in the second quarter. First Interstate Bank now owns 154,798 shares of the financial services provider’s stock worth $4,350,000 after buying an additional 1,224 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of First Interstate BancSystem by 17.7% in the first quarter. TIAA CREF Investment Management LLC now owns 130,790 shares of the financial services provider’s stock worth $3,679,000 after buying an additional 19,702 shares during the last quarter. Institutional investors own 33.12% of the company’s stock.

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About First Interstate BancSystem

First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company operates through community banking segment.

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