First Interstate BancSystem, Inc. (NASDAQ:FIBK) Given Consensus Rating of “Hold” by Brokerages

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have earned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $38.1667.

A number of analysts have recently issued reports on FIBK shares. 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 report on Monday, February 2nd. Barclays decreased their target price 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. Weiss Ratings reissued a “hold (c+)” rating on shares of First Interstate BancSystem in a research report on Monday, December 29th. DA Davidson restated a “buy” rating and set a $42.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, January 29th. Finally, Wall Street Zen raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Saturday.

First Interstate BancSystem Stock Down 2.2%

NASDAQ:FIBK opened at $38.14 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 0.09. First Interstate BancSystem has a 12-month low of $22.95 and a 12-month high of $39.26. The stock’s fifty day simple moving average is $36.23 and its 200-day simple moving average is $33.15. The firm has a market capitalization of $3.92 billion, a P/E ratio of 12.93 and a beta of 0.80.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 17.62% and a return on equity of 8.83%. First Interstate BancSystem’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period last year, the company posted $0.50 EPS. Equities research analysts expect that First Interstate BancSystem will post 2.53 earnings per share for the current year.

First Interstate BancSystem Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Tuesday, February 10th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Tuesday, February 10th. First Interstate BancSystem’s dividend payout ratio is 63.73%.

Insider Transactions at First Interstate BancSystem

In related news, Director John M. Heyneman, Jr. sold 30,432 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $31.03, for a total value of $944,304.96. Following the sale, the director owned 1,414,636 shares in the company, valued at approximately $43,896,155.08. This represents a 2.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Jonathan R. Scott sold 3,173 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $36.20, for a total value of $114,862.60. Following the sale, the insider directly owned 937,851 shares of the company’s stock, valued at $33,950,206.20. This represents a 0.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 45,432 shares of company stock worth $1,454,120 in the last ninety days. Insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIBK. Eurizon Capital SGR S.p.A. bought a new position in First Interstate BancSystem in the 4th quarter valued at about $25,000. First Horizon Corp acquired a new stake in shares of First Interstate BancSystem during the 3rd quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its stake in First Interstate BancSystem by 139.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 862 shares during the last quarter. GAMMA Investing LLC increased its stake in First Interstate BancSystem by 49.6% in the fourth quarter. GAMMA Investing LLC now owns 1,556 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 516 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position in First Interstate BancSystem by 1,485.1% during the third quarter. Jones Financial Companies Lllp now owns 1,601 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 1,500 shares in the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

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.