BidaskClub downgraded shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) from a hold rating to a sell rating in a research report sent to investors on Thursday, July 13th.

Several other research firms also recently weighed in on FIBK. Zacks Investment Research downgraded shares of First Interstate BancSystem from a strong-buy rating to a hold rating in a research report on Monday, May 1st. Barclays PLC reiterated an overweight rating and issued a $41.00 price target on shares of First Interstate BancSystem in a research report on Tuesday, June 13th. Wells Fargo & Company upgraded shares of First Interstate BancSystem from a market perform rating to an outperform rating in a research report on Friday, June 2nd. Piper Jaffray Companies restated an overweight rating and set a $43.00 price objective (down from $44.00) on shares of First Interstate BancSystem in a research report on Thursday, June 1st. Finally, Keefe, Bruyette & Woods set a $43.00 price objective on shares of First Interstate BancSystem and gave the company a hold rating in a research report on Saturday, May 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $42.00.

Shares of First Interstate BancSystem (NASDAQ FIBK) opened at 36.80 on Thursday. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 17.83 and a beta of 1.15. The stock has a 50 day moving average price of $36.89 and a 200-day moving average price of $38.96. First Interstate BancSystem has a one year low of $29.29 and a one year high of $45.35.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.03. First Interstate BancSystem had a net margin of 22.60% and a return on equity of 10.44%. The business had revenue of $116.50 million for the quarter, compared to the consensus estimate of $119.97 million. On average, equities research analysts expect that First Interstate BancSystem will post $2.29 EPS for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Wednesday, August 2nd will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, July 31st. This represents a $0.96 annualized dividend and a yield of 2.61%. First Interstate BancSystem’s payout ratio is 46.38%.

A number of institutional investors have recently bought and sold shares of FIBK. Advisors Asset Management Inc. boosted its position in First Interstate BancSystem by 829.0% in the first quarter. Advisors Asset Management Inc. now owns 6,029 shares of the financial services provider’s stock valued at $239,000 after buying an additional 5,380 shares during the last quarter. First Trust Advisors LP boosted its position in shares of First Interstate BancSystem by 9.4% in the first quarter. First Trust Advisors LP now owns 39,640 shares of the financial services provider’s stock worth $1,572,000 after buying an additional 3,403 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of First Interstate BancSystem by 3.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 12,297 shares of the financial services provider’s stock worth $488,000 after buying an additional 432 shares during the last quarter. Wrapmanager Inc. boosted its position in shares of First Interstate BancSystem by 5.1% in the first quarter. Wrapmanager Inc. now owns 6,105 shares of the financial services provider’s stock worth $242,000 after buying an additional 297 shares during the last quarter. Finally, Chicago Equity Partners LLC boosted its position in shares of First Interstate BancSystem by 46.3% in the first quarter. Chicago Equity Partners LLC now owns 86,175 shares of the financial services provider’s stock worth $3,417,000 after buying an additional 27,275 shares during the last quarter. 38.69% of the stock is owned by institutional investors.

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 also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.

Analyst Recommendations for First Interstate BancSystem (NASDAQ:FIBK)

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