First Interstate Bancsystem Inc (NASDAQ:FIBK) Receives $44.23 Consensus PT from Analysts

First Interstate Bancsystem Inc (NASDAQ:FIBK) has received an average rating of “Hold” from the seven brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $44.23.

A number of research firms have issued reports on FIBK. BidaskClub cut First Interstate Bancsystem from a “buy” rating to a “hold” rating in a report on Wednesday, August 28th. ValuEngine cut First Interstate Bancsystem from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research upgraded First Interstate Bancsystem from a “sell” rating to a “hold” rating in a report on Thursday.

In other news, Director Ross E. Leckie sold 1,219 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $39.27, for a total value of $47,870.13. Following the completion of the transaction, the director now owns 17,027 shares in the company, valued at approximately $668,650.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 24.93% of the stock is owned by company insiders.



Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in shares of First Interstate Bancsystem in the 2nd quarter valued at about $83,000. Baker Ellis Asset Management LLC bought a new position in shares of First Interstate Bancsystem in the 2nd quarter valued at about $135,000. Bank of Montreal Can grew its holdings in shares of First Interstate Bancsystem by 191.2% in the 2nd quarter. Bank of Montreal Can now owns 4,744 shares of the financial services provider’s stock valued at $188,000 after acquiring an additional 3,115 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in First Interstate Bancsystem by 94.3% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,051 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 2,451 shares during the last quarter. Finally, Pinkerton Retirement Specialists LLC acquired a new stake in First Interstate Bancsystem in the 2nd quarter valued at about $204,000. Institutional investors own 49.15% of the company’s stock.

FIBK stock traded down $0.02 during trading hours on Friday, reaching $40.52. 202,461 shares of the stock were exchanged, compared to its average volume of 195,453. The firm’s 50-day moving average is $38.99 and its 200-day moving average is $39.78. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.43 and a beta of 1.19. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.82 and a quick ratio of 0.82. First Interstate Bancsystem has a 12 month low of $34.61 and a 12 month high of $46.85.

First Interstate Bancsystem (NASDAQ:FIBK) last released its earnings results on Tuesday, July 30th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.02). The firm had revenue of $164.70 million for the quarter, compared to the consensus estimate of $163.66 million. First Interstate Bancsystem had a return on equity of 10.24% and a net margin of 24.08%. As a group, equities research analysts forecast that First Interstate Bancsystem will post 3.06 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Thursday, August 8th were issued a $0.31 dividend. This is a boost from First Interstate Bancsystem’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, August 7th. This represents a $1.24 annualized dividend and a dividend yield of 3.06%. First Interstate Bancsystem’s dividend payout ratio (DPR) is presently 42.47%.

About First Interstate Bancsystem

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.

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