First Interstate BancSystem Inc. (NASDAQ:FIBK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “First Interstate BancSystem, Inc. is a financial and bank holding company. Through its wholly-owned subsidiary, First Interstate Bank, it delivers a range of banking products and services to individuals, businesses, municipalities and other entities throughout its market areas. The Company’s banking products and services include demand, time, checking, and savings deposits. The Company’s loan portfolio consists of a mix of real estate, consumer, commercial, agricultural, and other loans, including fixed and variable rate loans. Its real estate loans comprise commercial real estate, construction, residential, agricultural, and other real estate loans. It also provides a range of trust, employee benefit, investment management, insurance, agency, and custodial services to individuals, businesses, and nonprofit organizations. First Interstate BancSystem, Inc. is headquartered in Billings, Montana. “

Several other research analysts have also recently issued reports on FIBK. Sandler O’Neill upgraded shares of First Interstate BancSystem from a “hold” rating to a “buy” rating in a report on Monday, November 21st. Barclays PLC increased their target price on shares of First Interstate BancSystem from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, October 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $33.33.

Analyst Recommendations for First Interstate BancSystem (NASDAQ:FIBK)

First Interstate BancSystem (NASDAQ:FIBK) traded up 0.13% on Tuesday, hitting $37.30. 311,517 shares of the stock traded hands. The firm has a 50-day moving average price of $33.76 and a 200-day moving average price of $30.47. First Interstate BancSystem has a 12 month low of $24.92 and a 12 month high of $38.75. The company has a market capitalization of $1.67 billion, a PE ratio of 17.85 and a beta of 0.97.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Monday, October 24th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.04. First Interstate BancSystem had a net margin of 22.52% and a return on equity of 9.66%. Analysts forecast that First Interstate BancSystem will post $2.14 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, October 31st were issued a $0.22 dividend. This is a boost from First Interstate BancSystem’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Thursday, October 27th. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 42.11%.

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Several hedge funds have recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. purchased a new stake in First Interstate BancSystem during the second quarter worth $4,937,000. Prudential Financial Inc. boosted its stake in 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 period. Victory Capital Management Inc. boosted its stake in 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 period. First Interstate Bank boosted its stake in 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 period. Finally, Mutual of America Capital Management LLC boosted its stake in First Interstate BancSystem by 2.9% in the second quarter. Mutual of America Capital Management LLC now owns 140,774 shares of the financial services provider’s stock worth $3,956,000 after buying an additional 3,939 shares during the period. Institutional investors and hedge funds own 33.45% of the company’s stock.

First Interstate BancSystem Company Profile

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.

5 Day Chart for NASDAQ:FIBK

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