First Interstate BancSystem, Inc. (NASDAQ:FIBK) Given Average Rating of “Hold” by Analysts

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

FIBK has been the topic of a number of analyst reports. StockNews.com cut shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Tuesday, December 24th. Wells Fargo & Company reduced their price target on shares of First Interstate BancSystem from $30.00 to $29.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. Stephens restated an “overweight” rating and set a $36.00 price target on shares of First Interstate BancSystem in a research report on Thursday, October 10th. Keefe, Bruyette & Woods boosted their price target on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, DA Davidson upgraded shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and boosted their price target for the company from $32.00 to $42.00 in a research report on Tuesday, November 26th.

Insider Activity

In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 22,050 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total value of $745,290.00. Following the completion of the sale, the insider now directly owns 613,019 shares in the company, valued at $20,720,042.20. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jonathan R. Scott sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total transaction of $222,170.00. Following the completion of the sale, the director now owns 958,710 shares of the company’s stock, valued at $32,768,707.80. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,837 shares of company stock valued at $1,839,583. 6.90% of the stock is currently owned by insiders.

Institutional Trading of First Interstate BancSystem

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC lifted its holdings in First Interstate BancSystem by 73.9% in the fourth quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider’s stock worth $50,020,000 after buying an additional 654,688 shares during the period. KBC Group NV lifted its holdings in shares of First Interstate BancSystem by 34.1% during the fourth quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 1,022 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of First Interstate BancSystem by 38.8% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 14,065 shares of the financial services provider’s stock valued at $457,000 after purchasing an additional 3,929 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of First Interstate BancSystem by 37,734.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 141,502 shares of the financial services provider’s stock valued at $4,595,000 after purchasing an additional 141,128 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of First Interstate BancSystem by 3.1% during the third quarter. Geode Capital Management LLC now owns 1,992,873 shares of the financial services provider’s stock valued at $61,152,000 after purchasing an additional 59,367 shares during the last quarter. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

First Interstate BancSystem Trading Down 1.1 %

NASDAQ:FIBK opened at $32.86 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $3.43 billion, a PE ratio of 14.41 and a beta of 0.85. The firm’s 50 day moving average is $33.15 and its 200 day moving average is $31.57. First Interstate BancSystem has a 12 month low of $24.16 and a 12 month high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. Sell-side analysts expect that First Interstate BancSystem will post 2.2 earnings per share for the current year.

About First Interstate BancSystem

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.