Zacks Investment Research downgraded shares of First Interstate BancSystem Inc. (NASDAQ:FIBK) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

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. “

FIBK has been the subject of several other research reports. Barclays PLC boosted their price target on shares of First Interstate BancSystem from $31.00 to $34.00 and gave the stock an overweight rating in a report on Tuesday, October 11th. Sandler O’Neill raised shares of First Interstate BancSystem from a hold rating to a buy rating in a report on Monday, November 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $33.33.

Shares of First Interstate BancSystem (NASDAQ:FIBK) opened at 37.30 on Tuesday. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 17.85 and a beta of 0.97. The stock has a 50 day moving average of $33.76 and a 200 day moving average of $30.47. First Interstate BancSystem has a 12-month low of $24.92 and a 12-month high of $38.75.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Monday, October 24th. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.54 by $0.04. First Interstate BancSystem had a net margin of 22.52% and a return on equity of 9.66%. Equities research analysts predict that First Interstate BancSystem will post $2.14 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, October 31st were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Thursday, October 27th. This is a positive change from First Interstate BancSystem’s previous quarterly dividend of $0.20. First Interstate BancSystem’s payout ratio is presently 42.11%.

Large investors have recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in First Interstate BancSystem by 77.3% in the second quarter. Victory Capital Management Inc. now owns 4,199 shares of the financial services provider’s stock worth $118,000 after buying an additional 1,831 shares during the last quarter. US Bancorp DE raised its stake in First Interstate BancSystem by 3.2% in the second quarter. US Bancorp DE now owns 4,576 shares of the financial services provider’s stock worth $129,000 after buying an additional 141 shares during the last quarter. BlackRock Inc. raised its stake in First Interstate BancSystem by 232.0% in the second quarter. BlackRock Inc. now owns 4,761 shares of the financial services provider’s stock worth $134,000 after buying an additional 3,327 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in First Interstate BancSystem by 133.2% in the second quarter. O Shaughnessy Asset Management LLC now owns 4,808 shares of the financial services provider’s stock worth $135,000 after buying an additional 2,746 shares during the last quarter. Finally, Quotient Investors LLC acquired a new stake in First Interstate BancSystem during the third quarter worth about $214,000. 33.45% of the stock is owned by institutional investors.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company operates through community banking segment.

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