First Interstate Bancsystem (NASDAQ:FIBK) had its price target lifted by Barclays from $43.00 to $47.00 in a research report released on Tuesday, January 2nd, MarketBeat reports. The firm currently has an overweight rating on the financial services provider’s stock.
FIBK has been the topic of several other reports. Zacks Investment Research upgraded shares of First Interstate Bancsystem from a hold rating to a buy rating and set a $44.00 price target on the stock in a research report on Wednesday, November 1st. ValuEngine downgraded shares of First Interstate Bancsystem from a buy rating to a hold rating in a research report on Thursday, September 7th. Finally, Keefe, Bruyette & Woods reissued a hold rating and issued a $45.00 price objective on shares of First Interstate Bancsystem in a research note on Friday, December 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $44.75.
First Interstate Bancsystem (NASDAQ FIBK) traded up $0.05 on Tuesday, reaching $42.05. 128,399 shares of the company’s stock traded hands, compared to its average volume of 121,697. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.08. First Interstate Bancsystem has a fifty-two week low of $33.33 and a fifty-two week high of $45.35. The company has a market capitalization of $2,371.11, a P/E ratio of 21.13, a PEG ratio of 1.65 and a beta of 1.18.
First Interstate Bancsystem (NASDAQ:FIBK) last released its quarterly earnings results on Monday, October 30th. The financial services provider reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. First Interstate Bancsystem had a net margin of 19.90% and a return on equity of 9.40%. research analysts expect that First Interstate Bancsystem will post 2.34 earnings per share for the current year.
In related news, Director Ross E. Leckie sold 2,000 shares of the firm’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $39.61, for a total transaction of $79,220.00. Following the completion of the transaction, the director now directly owns 21,028 shares of the company’s stock, valued at $832,919.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ross E. Leckie sold 1,500 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $38.85, for a total transaction of $58,275.00. Following the transaction, the director now directly owns 23,028 shares of the company’s stock, valued at $894,637.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 114,525 shares of company stock valued at $4,240,874. Corporate insiders own 38.22% of the company’s stock.
Several large investors have recently modified their holdings of FIBK. SG Americas Securities LLC purchased a new position in shares of First Interstate Bancsystem in the 3rd quarter worth $105,000. BNP Paribas Arbitrage SA grew its stake in shares of First Interstate Bancsystem by 622.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,970 shares of the financial services provider’s stock worth $110,000 after buying an additional 2,559 shares in the last quarter. Quantbot Technologies LP grew its stake in shares of First Interstate Bancsystem by 955.6% in the 2nd quarter. Quantbot Technologies LP now owns 3,019 shares of the financial services provider’s stock worth $112,000 after buying an additional 2,733 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new position in shares of First Interstate Bancsystem in the 2nd quarter worth $142,000. Finally, Victory Capital Management Inc. grew its stake in shares of First Interstate Bancsystem by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,531 shares of the financial services provider’s stock worth $169,000 after buying an additional 680 shares in the last quarter. 45.15% of the stock is owned by institutional investors and hedge funds.
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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 also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.
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