First Interstate BancSystem, Inc. (NASDAQ:FIBK) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other analysts also recently issued reports on FIBK. Keefe, Bruyette & Woods set a $43.00 price target on shares of First Interstate BancSystem and gave the company a “hold” rating in a research report on Saturday, May 27th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $43.00 price objective (down from $44.00) on shares of First Interstate BancSystem in a report on Thursday, June 1st. Wells Fargo & Company raised shares of First Interstate BancSystem from a “market perform” rating to an “outperform” rating in a report on Friday, June 2nd. BidaskClub raised shares of First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $41.00 price objective on shares of First Interstate BancSystem in a report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. First Interstate BancSystem currently has an average rating of “Hold” and an average target price of $42.00.

Shares of First Interstate BancSystem (FIBK) traded down 3.03% during midday trading on Thursday, reaching $33.65. 144,634 shares of the company’s stock traded hands. The stock has a market cap of $1.90 billion, a P/E ratio of 16.28 and a beta of 1.16. The stock has a 50-day moving average price of $35.88 and a 200-day moving average price of $37.99. First Interstate BancSystem has a 52-week low of $30.10 and a 52-week high of $45.35.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $116.50 million during the quarter, compared to analyst estimates of $119.97 million. First Interstate BancSystem had a net margin of 21.08% and a return on equity of 9.44%. Analysts forecast that First Interstate BancSystem will post $2.29 earnings per share for the current year.

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Several large investors have recently modified their holdings of the stock. Phocas Financial Corp. boosted its holdings in shares of First Interstate BancSystem by 129.3% in the 2nd quarter. Phocas Financial Corp. now owns 277,152 shares of the financial services provider’s stock worth $10,310,000 after buying an additional 156,269 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of First Interstate BancSystem in the 2nd quarter worth about $553,000. Koch Industries Inc. purchased a new position in shares of First Interstate BancSystem in the 2nd quarter worth about $584,000. Verition Fund Management LLC purchased a new position in shares of First Interstate BancSystem in the 2nd quarter worth about $396,000. Finally, California State Teachers Retirement System boosted its holdings in shares of First Interstate BancSystem by 17.1% in the 2nd quarter. California State Teachers Retirement System now owns 45,492 shares of the financial services provider’s stock worth $1,692,000 after buying an additional 6,652 shares during the last quarter. 44.85% of the stock is currently owned by institutional investors.

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 also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.

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Analyst Recommendations for First Interstate BancSystem (NASDAQ:FIBK)

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