First Interstate BancSystem, Inc. (NASDAQ:FIBK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $44.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 11.96% from the company’s current price.

According to Zacks, “First Interstate BancSystem, Inc. is a financial and bank holding company. Through its wholly-owned subsidiary, First Interstate Bank, it delivers a range of banking products and services to individuals, businesses, municipalities and other entities throughout its market areas. The Company’s banking products and services include demand, time, checking, and savings deposits. The Company’s loan portfolio consists of a mix of real estate, consumer, commercial, agricultural, and other loans, including fixed and variable rate loans. Its real estate loans comprise commercial real estate, construction, residential, agricultural, and other real estate loans. It also provides a range of trust, employee benefit, investment management, insurance, agency, and custodial services to individuals, businesses, and nonprofit organizations. First Interstate BancSystem, Inc. is headquartered in Billings, Montana. “

Several other research analysts have also weighed in on FIBK. BidaskClub lowered First Interstate BancSystem from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. ValuEngine lowered First Interstate BancSystem from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Finally, Barclays PLC set a $43.00 price objective on First Interstate BancSystem and gave the stock a “buy” rating in a research report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $43.25.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC boosted its position in shares of First Interstate BancSystem by 1.8% during the third quarter. Mutual of America Capital Management LLC now owns 180,609 shares of the financial services provider’s stock worth $6,908,000 after buying an additional 3,196 shares during the period. Kennedy Capital Management Inc. purchased a new position in shares of First Interstate BancSystem during the second quarter worth $2,020,000. CS Mckee LP purchased a new position in shares of First Interstate BancSystem during the second quarter worth $958,000. LSV Asset Management boosted its position in shares of First Interstate BancSystem by 13.2% during the second quarter. LSV Asset Management now owns 618,585 shares of the financial services provider’s stock worth $23,011,000 after buying an additional 71,900 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of First Interstate BancSystem by 196.5% during the second quarter. First Trust Advisors LP now owns 117,541 shares of the financial services provider’s stock worth $4,373,000 after buying an additional 77,901 shares during the period. Institutional investors and hedge funds own 44.97% of the company’s stock.

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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