First Interstate BancSystem, Inc. (FIBK) Rating Lowered to Hold at ValuEngine
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.
COPYRIGHT VIOLATION NOTICE: This news story was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/09/07/first-interstate-bancsystem-inc-fibk-rating-lowered-to-hold-at-valuengine.html.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for First Interstate BancSystem Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Interstate BancSystem Inc. and related companies with MarketBeat.com's FREE daily email newsletter.