Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have earned a consensus rating of “Hold” from the eight research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $42.33.
FIBK has been the subject of a number of recent analyst reports. ValuEngine upgraded First Interstate BancSystem from a “hold” rating to a “buy” rating in a report on Wednesday, May 31st. Zacks Investment Research upgraded First Interstate BancSystem from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Tuesday, August 1st. BidaskClub upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Keefe, Bruyette & Woods set a $43.00 target price on First Interstate BancSystem and gave the company a “hold” rating in a report on Saturday, May 27th. Finally, Wells Fargo & Company upgraded First Interstate BancSystem from a “market perform” rating to an “outperform” rating in a report on Friday, June 2nd.
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Shares of First Interstate BancSystem (NASDAQ:FIBK) traded up 1.44% during mid-day trading on Tuesday, hitting $35.20. 56,233 shares of the stock traded hands. First Interstate BancSystem has a 52 week low of $30.10 and a 52 week high of $45.35. The firm’s 50-day moving average is $35.78 and its 200-day moving average is $37.85. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 17.03 and a beta of 1.16.
First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The company had revenue of $116.50 million during the quarter, compared to the consensus estimate of $119.97 million. First Interstate BancSystem had a return on equity of 9.44% and a net margin of 21.08%. On average, analysts forecast that First Interstate BancSystem will post $2.29 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of FIBK. BNP Paribas Arbitrage SA grew its stake in First Interstate BancSystem by 622.6% in the second quarter. BNP Paribas Arbitrage SA now owns 2,970 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 2,559 shares during the period. Quantbot Technologies LP grew its stake in First Interstate BancSystem by 955.6% in the second quarter. Quantbot Technologies LP now owns 3,019 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 2,733 shares during the period. Sei Investments Co. grew its stake in First Interstate BancSystem by 5.6% in the first quarter. Sei Investments Co. now owns 3,154 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 168 shares during the period. Brandywine Global Investment Management LLC purchased a new stake in First Interstate BancSystem in the second quarter worth $142,000. Finally, Victory Capital Management Inc. grew its stake in First Interstate BancSystem by 17.7% in the second quarter. Victory Capital Management Inc. now owns 4,531 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 680 shares during the period. 44.85% of the stock is currently owned by institutional investors.
About First Interstate BancSystem
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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