First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives Average Recommendation of “Hold” from Brokerages

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has been assigned an average recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $35.00.

A number of equities research analysts have commented on FIBK shares. UBS Group started coverage on shares of First Interstate BancSystem in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 target price for the company. StockNews.com downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Tuesday, December 24th. Keefe, Bruyette & Woods lifted their target price on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. DA Davidson raised shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $32.00 to $42.00 in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company cut their price target on First Interstate BancSystem from $30.00 to $29.00 and set an “underweight” rating for the company in a report on Monday, January 6th.

First Interstate BancSystem Price Performance

Shares of FIBK opened at $32.86 on Friday. The company has a market capitalization of $3.43 billion, a P/E ratio of 14.41 and a beta of 0.85. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average of $33.15 and a 200 day moving average of $31.57. First Interstate BancSystem has a twelve month low of $24.16 and a twelve month high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. As a group, equities research analysts anticipate that First Interstate BancSystem will post 2.2 earnings per share for the current fiscal year.

Insider Activity at First Interstate BancSystem

In other First Interstate BancSystem news, Director Jonathan R. Scott sold 6,500 shares of First Interstate BancSystem stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total value of $222,170.00. Following the completion of the transaction, the director now directly owns 958,710 shares of the company’s stock, valued at $32,768,707.80. This trade represents a 0.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of First Interstate BancSystem stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $34.50, for a total transaction of $209,311.50. Following the completion of the transaction, the insider now directly owns 75,387 shares of the company’s stock, valued at $2,600,851.50. The trade was a 7.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,837 shares of company stock valued at $1,839,583. Corporate insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On First Interstate BancSystem

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 DIFC Ltd purchased a new position in shares of First Interstate BancSystem in the 3rd quarter worth $34,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of First Interstate BancSystem in the 3rd quarter worth about $69,000. KBC Group NV lifted its holdings in shares of First Interstate BancSystem by 34.1% in the 4th quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock worth $130,000 after acquiring an additional 1,022 shares during the last quarter. CWM LLC lifted its holdings in shares of First Interstate BancSystem by 65.0% in the 3rd quarter. CWM LLC now owns 5,152 shares of the financial services provider’s stock worth $158,000 after acquiring an additional 2,029 shares during the last quarter. Finally, Telos Capital Management Inc. bought a new stake in shares of First Interstate BancSystem in the 3rd quarter worth about $201,000. 88.71% of the stock is owned by hedge funds and other institutional investors.

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. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.