BidaskClub lowered shares of First Interstate BancSystem (NASDAQ:FIBK) from a buy rating to a hold rating in a report issued on Wednesday.
Several other equities analysts have also commented on FIBK. Zacks Investment Research lowered First Interstate BancSystem from a hold rating to a sell rating in a research report on Tuesday. Sandler O’Neill reaffirmed a buy rating and issued a $46.00 target price on shares of First Interstate BancSystem in a research report on Thursday, March 29th. Piper Jaffray reaffirmed a buy rating on shares of First Interstate BancSystem in a research report on Wednesday, January 31st. Barclays upped their target price on First Interstate BancSystem from $43.00 to $47.00 and gave the company an overweight rating in a research report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $45.00 target price on shares of First Interstate BancSystem in a research report on Friday, December 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $45.00.
First Interstate BancSystem stock opened at $39.50 on Wednesday. The company has a market cap of $2,262.30, a P/E ratio of 19.65, a P/E/G ratio of 1.50 and a beta of 1.11. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. First Interstate BancSystem has a one year low of $33.33 and a one year high of $42.90.
First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.57 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.08). The company had revenue of $138.03 million for the quarter, compared to analyst estimates of $138.00 million. First Interstate BancSystem had a return on equity of 9.10% and a net margin of 20.50%. sell-side analysts expect that First Interstate BancSystem will post 2.96 EPS for the current year.
In other news, insider Philip G. Gaglia sold 972 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $41.03, for a total value of $39,881.16. Following the completion of the sale, the insider now directly owns 7,544 shares in the company, valued at approximately $309,530.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Thomas W. Scott sold 250,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $39.50, for a total value of $9,875,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 269,050 shares of company stock worth $10,643,897. 40.23% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of FIBK. BNP Paribas Arbitrage SA increased its holdings in shares of First Interstate BancSystem by 116.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,417 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 3,447 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of First Interstate BancSystem by 3.4% in the 3rd quarter. Rhumbline Advisers now owns 44,834 shares of the financial services provider’s stock valued at $1,715,000 after acquiring an additional 1,490 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of First Interstate BancSystem in the 3rd quarter valued at approximately $105,000. Wells Fargo & Company MN increased its holdings in shares of First Interstate BancSystem by 17.3% in the 3rd quarter. Wells Fargo & Company MN now owns 129,842 shares of the financial services provider’s stock valued at $4,967,000 after acquiring an additional 19,174 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of First Interstate BancSystem by 5.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,309,818 shares of the financial services provider’s stock valued at $88,349,000 after acquiring an additional 111,928 shares during the last quarter. Institutional investors and hedge funds own 46.08% of the company’s stock.
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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.
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