First Interstate BancSystem (FIBK) Upgraded to Strong-Buy by BidaskClub

First Interstate BancSystem (NASDAQ:FIBK) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

A number of other equities research analysts have also issued reports on FIBK. FIG Partners upgraded First Interstate BancSystem from a “market perform” rating to an “outperform” rating in a research report on Thursday, April 26th. Zacks Investment Research upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Friday, April 27th. Sandler O’Neill restated a “buy” rating and issued a $46.00 price target on shares of First Interstate BancSystem in a research report on Thursday, March 29th. Finally, Piper Jaffray restated a “buy” rating on shares of First Interstate BancSystem in a research report on Wednesday, January 31st. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $45.00.

FIBK stock opened at $43.00 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $2.41 billion, a PE ratio of 21.39, a P/E/G ratio of 1.62 and a beta of 1.10. First Interstate BancSystem has a 1 year low of $33.33 and a 1 year high of $43.15.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Wednesday, April 25th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.68. The business had revenue of $135.00 million during the quarter, compared to analyst estimates of $136.17 million. First Interstate BancSystem had a return on equity of 9.50% and a net margin of 21.49%. equities research analysts predict that First Interstate BancSystem will post 2.93 EPS for the current fiscal year.

In related news, Director James R. Scott, Jr. sold 6,100 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $40.54, for a total value of $247,294.00. Following the completion of the transaction, the director now directly owns 17,312 shares in the company, valued at $701,828.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ross E. Leckie sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $41.80, for a total value of $41,800.00. Following the completion of the transaction, the director now owns 21,027 shares of the company’s stock, valued at $878,928.60. The disclosure for this sale can be found here. Insiders sold 279,416 shares of company stock valued at $11,075,235 over the last quarter. 40.23% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its position in First Interstate BancSystem by 3.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,378,676 shares of the financial services provider’s stock worth $95,266,000 after acquiring an additional 86,997 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in First Interstate BancSystem by 5.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 113,102 shares of the financial services provider’s stock worth $4,530,000 after purchasing an additional 6,350 shares in the last quarter. Macquarie Group Ltd. lifted its stake in First Interstate BancSystem by 14.4% during the fourth quarter. Macquarie Group Ltd. now owns 2,156,397 shares of the financial services provider’s stock worth $86,364,000 after purchasing an additional 271,054 shares in the last quarter. Wells Fargo & Company MN lifted its stake in First Interstate BancSystem by 23.4% during the fourth quarter. Wells Fargo & Company MN now owns 160,249 shares of the financial services provider’s stock worth $6,419,000 after purchasing an additional 30,407 shares in the last quarter. Finally, Ramsey Quantitative Systems acquired a new position in First Interstate BancSystem during the fourth quarter worth $307,000. Institutional investors own 45.77% of the company’s stock.

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.

Analyst Recommendations for First Interstate BancSystem (NASDAQ:FIBK)

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