According to Zacks, “First Interstate BancSystem, Inc. is a financial and bank holding company. Through its wholly-owned subsidiary, First Interstate Bank, it delivers a range of banking products and services to individuals, businesses, municipalities and other entities throughout its market areas. The Company’s banking products and services include demand, time, checking, and savings deposits. The Company’s loan portfolio consists of a mix of real estate, consumer, commercial, agricultural, and other loans, including fixed and variable rate loans. Its real estate loans comprise commercial real estate, construction, residential, agricultural, and other real estate loans. It also provides a range of trust, employee benefit, investment management, insurance, agency, and custodial services to individuals, businesses, and nonprofit organizations. First Interstate BancSystem, Inc. is headquartered in Billings, Montana. “
Zacks Investment Research downgraded shares of First Interstate Bancsystem (NASDAQ:FIBK) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.
Several other research analysts also recently commented on the stock. BidaskClub downgraded shares of First Interstate Bancsystem from a hold rating to a sell rating in a research note on Thursday, January 24th. Stephens started coverage on shares of First Interstate Bancsystem in a research note on Monday, January 14th. They issued an overweight rating and a $37.90 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. First Interstate Bancsystem currently has a consensus rating of Hold and an average price target of $47.15.
First Interstate Bancsystem stock opened at $42.04 on Wednesday. The stock has a market capitalization of $2.53 billion, a PE ratio of 14.40, a PEG ratio of 1.50 and a beta of 1.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.81 and a quick ratio of 0.81. First Interstate Bancsystem has a 12-month low of $34.61 and a 12-month high of $47.05.
First Interstate Bancsystem (NASDAQ:FIBK) last released its earnings results on Wednesday, January 30th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.76. The firm had revenue of $153.20 million during the quarter, compared to analyst estimates of $151.76 million. First Interstate Bancsystem had a net margin of 25.98% and a return on equity of 10.93%. Research analysts forecast that First Interstate Bancsystem will post 3.1 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 21st. Investors of record on Monday, February 11th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.95%. The ex-dividend date was Friday, February 8th. This is an increase from First Interstate Bancsystem’s previous quarterly dividend of $0.28. First Interstate Bancsystem’s dividend payout ratio (DPR) is currently 42.47%.
In related news, Director Jonathan R. Scott sold 15,670 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $41.14, for a total value of $644,663.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 40.23% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of FIBK. First Trust Advisors LP increased its position in First Interstate Bancsystem by 3.9% during the 3rd quarter. First Trust Advisors LP now owns 143,703 shares of the financial services provider’s stock valued at $6,438,000 after purchasing an additional 5,375 shares during the period. Assenagon Asset Management S.A. purchased a new position in First Interstate Bancsystem during the 3rd quarter valued at about $202,000. US Bancorp DE increased its position in First Interstate Bancsystem by 13.5% during the 3rd quarter. US Bancorp DE now owns 22,376 shares of the financial services provider’s stock valued at $1,003,000 after purchasing an additional 2,658 shares during the period. Victory Capital Management Inc. increased its position in First Interstate Bancsystem by 57.1% during the 3rd quarter. Victory Capital Management Inc. now owns 16,529 shares of the financial services provider’s stock valued at $740,000 after purchasing an additional 6,008 shares during the period. Finally, Wells Fargo & Company MN increased its position in First Interstate Bancsystem by 2.5% during the 3rd quarter. Wells Fargo & Company MN now owns 249,834 shares of the financial services provider’s stock valued at $11,192,000 after purchasing an additional 6,020 shares during the period. 49.59% of the stock is currently owned by institutional investors and hedge funds.
First Interstate Bancsystem Company Profile
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.
Featured Story: What is a Stop Order?
Get a free copy of the Zacks research report on First Interstate Bancsystem (FIBK)
For more information about research offerings from Zacks Investment Research, visit Zacks.com