First Interstate BancSystem (NASDAQ:FIBK) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of First Interstate BancSystem (NASDAQ:FIBK) from a sell rating to a hold rating in a report released on Thursday morning.

FIBK has been the topic of a number of other reports. Barclays upped their target price on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the company an equal weight rating in a report on Monday, July 29th. Stephens upped their target price on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company an overweight rating in a report on Monday, July 29th. DA Davidson upped their target price on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the company a neutral rating in a report on Monday, July 29th. Wells Fargo & Company upped their price objective on shares of First Interstate BancSystem from $25.00 to $30.00 and gave the company an equal weight rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the company a market perform rating in a research note on Monday, July 29th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $33.33.

First Interstate BancSystem Price Performance

First Interstate BancSystem stock opened at $30.20 on Thursday. First Interstate BancSystem has a 52 week low of $20.81 and a 52 week high of $33.00. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.92. The firm’s 50-day simple moving average is $29.87 and its 200 day simple moving average is $27.68. The firm has a market capitalization of $3.16 billion, a PE ratio of 12.03 and a beta of 0.82.

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

First Interstate BancSystem Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 6.23%. The ex-dividend date was Monday, August 5th. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 74.90%.

Institutional Trading of First Interstate BancSystem

Institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC increased its position in First Interstate BancSystem by 205.3% during the 4th quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 856 shares in the last quarter. CWM LLC increased its position in First Interstate BancSystem by 16.0% during the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 430 shares in the last quarter. PNC Financial Services Group Inc. increased its position in First Interstate BancSystem by 28.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,378 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 744 shares in the last quarter. Innealta Capital LLC acquired a new stake in First Interstate BancSystem during the 2nd quarter worth approximately $106,000. Finally, nVerses Capital LLC increased its position in First Interstate BancSystem by 412.5% during the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 3,300 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

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.