First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives $33.33 Average Price Target from Analysts

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have received an average recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $33.50.

Several equities analysts have recently commented on the company. Wells Fargo & Company upped their target price on First Interstate BancSystem from $25.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. DA Davidson upped their target price on First Interstate BancSystem from $27.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. StockNews.com downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. Keefe, Bruyette & Woods upped their target price on First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Finally, Barclays upped their target price on First Interstate BancSystem from $31.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday.

Institutional Trading of First Interstate BancSystem

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in First Interstate BancSystem by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 9,180,595 shares of the financial services provider’s stock valued at $282,303,000 after acquiring an additional 533,293 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of First Interstate BancSystem by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider’s stock valued at $127,204,000 after purchasing an additional 367,212 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of First Interstate BancSystem by 5.0% during the 4th quarter. Wellington Management Group LLP now owns 2,970,727 shares of the financial services provider’s stock worth $91,350,000 after buying an additional 142,069 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of First Interstate BancSystem by 1.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,051,632 shares of the financial services provider’s stock worth $56,974,000 after buying an additional 32,348 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in First Interstate BancSystem by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 887,559 shares of the financial services provider’s stock valued at $24,648,000 after buying an additional 11,493 shares in the last quarter. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Price Performance

Shares of NASDAQ FIBK opened at $30.37 on Friday. The business’s 50 day moving average price is $30.05 and its two-hundred day moving average price is $27.96. The company has a market cap of $3.18 billion, a PE ratio of 12.10 and a beta of 0.82. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.92. First Interstate BancSystem has a twelve month low of $20.81 and a twelve month high of $33.00.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The firm had revenue of $244.30 million for the quarter, compared to the consensus estimate of $246.07 million. First Interstate BancSystem had a return on equity of 8.19% and a net margin of 17.22%. During the same quarter in the previous year, the business earned $0.66 earnings per share. On average, analysts predict that First Interstate BancSystem will post 2.34 EPS for the current year.

First Interstate BancSystem Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 6.19%. The ex-dividend date was Monday, August 5th. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 74.90%.

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. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.