First Interstate BancSystem Inc. (FIBK) Given Consensus Recommendation of “Hold” by Brokerages
First Interstate BancSystem Inc. (NASDAQ:FIBK) has been given an average rating of “Hold” by the six research firms that are currently covering the firm. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $32.00.
A number of brokerages recently weighed in on FIBK. Barclays PLC boosted their price objective on First Interstate BancSystem from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Tuesday. Zacks Investment Research upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Thursday, June 16th. Finally, FIG Partners reiterated a “market perform” rating on shares of First Interstate BancSystem in a research report on Wednesday, July 27th.
In other news, Director Jonathan R. Scott sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $29.07, for a total value of $116,280.00. Following the transaction, the director now directly owns 4,958 shares of the company’s stock, valued at approximately $144,129.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin P. Riley acquired 2,676 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was acquired at an average cost of $29.71 per share, for a total transaction of $79,503.96. Following the completion of the purchase, the chief executive officer now directly owns 33,968 shares in the company, valued at $1,009,189.28. The disclosure for this purchase can be found here. 38.22% of the stock is owned by insiders.
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Several hedge funds and other institutional investors have recently made changes to their positions in FIBK. First Trust Advisors LP increased its position in First Interstate BancSystem by 0.5% in the second quarter. First Trust Advisors LP now owns 20,814 shares of the financial services provider’s stock worth $585,000 after buying an additional 113 shares during the period. US Bancorp DE increased its position in First Interstate BancSystem by 3.2% in the second quarter. US Bancorp DE now owns 4,576 shares of the financial services provider’s stock worth $129,000 after buying an additional 141 shares during the period. BlackRock Advisors LLC increased its position in First Interstate BancSystem by 5.3% in the second quarter. BlackRock Advisors LLC now owns 9,388 shares of the financial services provider’s stock worth $264,000 after buying an additional 476 shares during the period. Metropolitan Life Insurance Co. NY increased its position in First Interstate BancSystem by 4.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 14,208 shares of the financial services provider’s stock worth $399,000 after buying an additional 565 shares during the period. Finally, Strs Ohio increased its position in First Interstate BancSystem by 8.6% in the second quarter. Strs Ohio now owns 13,900 shares of the financial services provider’s stock worth $390,000 after buying an additional 1,100 shares during the period. 32.96% of the stock is currently owned by institutional investors.
First Interstate BancSystem (NASDAQ:FIBK) traded up 1.09% on Wednesday, hitting $32.35. The company had a trading volume of 27,113 shares. The company has a market capitalization of $1.45 billion, a P/E ratio of 16.34 and a beta of 1.09. The stock’s 50-day moving average price is $31.21 and its 200 day moving average price is $29.04. First Interstate BancSystem has a one year low of $24.92 and a one year high of $32.67.
First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Monday, July 25th. The financial services provider reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. First Interstate BancSystem had a return on equity of 9.52% and a net margin of 21.57%. On average, analysts expect that First Interstate BancSystem will post $2.11 EPS for the current fiscal year.
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 operates through community banking segment.
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