First Interstate BancSystem Inc. (NASDAQ:FIBK) has earned an average recommendation of “Hold” from the six ratings firms that are covering the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $32.00.
A number of research firms have commented on FIBK. Barclays PLC upped their price target on First Interstate BancSystem from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday. Zacks Investment Research upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Friday, July 29th. Finally, FIG Partners reiterated a “market perform” rating on shares of First Interstate BancSystem in a research note on Wednesday, July 27th.
Shares of First Interstate BancSystem (NASDAQ:FIBK) opened at 31.75 on Wednesday. First Interstate BancSystem has a 12 month low of $24.92 and a 12 month high of $32.67. The firm has a market cap of $1.42 billion, a PE ratio of 16.04 and a beta of 1.09. The firm’s 50-day moving average price is $31.34 and its 200-day moving average price is $29.11.
First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Monday, July 25th. The financial services provider reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. First Interstate BancSystem had a return on equity of 9.52% and a net margin of 21.57%. Analysts expect that First Interstate BancSystem will post $2.11 earnings per share for the current year.
In related news, Director Jonathan R. Scott sold 960 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $30.20, for a total value of $28,992.00. Following the transaction, the director now owns 49,858 shares of the company’s stock, valued at $1,505,711.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan R. Scott sold 4,000 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $29.07, for a total value of $116,280.00. Following the completion of the transaction, the director now directly owns 4,958 shares in the company, valued at approximately $144,129.06. The disclosure for this sale can be found here. 38.22% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. TIAA CREF Investment Management LLC raised its position in First Interstate BancSystem by 17.7% in the first quarter. TIAA CREF Investment Management LLC now owns 130,790 shares of the financial services provider’s stock valued at $3,679,000 after buying an additional 19,702 shares during the period. Stockman Asset Management raised its position in First Interstate BancSystem by 259.4% in the first quarter. Stockman Asset Management now owns 54,463 shares of the financial services provider’s stock valued at $1,532,000 after buying an additional 39,310 shares during the period. Renaissance Technologies LLC raised its position in First Interstate BancSystem by 31.2% in the first quarter. Renaissance Technologies LLC now owns 461,700 shares of the financial services provider’s stock valued at $12,988,000 after buying an additional 109,800 shares during the period. Hillcrest Asset Management LLC acquired a new position in First Interstate BancSystem during the first quarter valued at approximately $10,006,000. Finally, Acadian Asset Management LLC raised its position in First Interstate BancSystem by 210.4% in the second quarter. Acadian Asset Management LLC now owns 22,068 shares of the financial services provider’s stock valued at $621,000 after buying an additional 14,958 shares during the period. 32.96% of the stock is currently owned by hedge funds and other institutional investors.
About First Interstate BancSystem
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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