First Interstate BancSystem (NASDAQ:FIBK) Stock Rating Upgraded by StockNews.com

First Interstate BancSystem (NASDAQ:FIBKGet Rating) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

Separately, TheStreet upgraded shares of First Interstate BancSystem from a “c” rating to a “b” rating in a research note on Monday, August 29th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, First Interstate BancSystem presently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

First Interstate BancSystem Stock Up 2.3 %

Shares of FIBK opened at $40.28 on Friday. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 22.13 and a beta of 0.95. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 0.09. First Interstate BancSystem has a 12 month low of $32.40 and a 12 month high of $45.33. The company has a 50-day moving average price of $39.87 and a two-hundred day moving average price of $37.72.

First Interstate BancSystem (NASDAQ:FIBKGet Rating) last posted its earnings results on Tuesday, July 26th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.16). First Interstate BancSystem had a net margin of 14.93% and a return on equity of 8.43%. The firm had revenue of $288.90 million during the quarter, compared to the consensus estimate of $271.40 million. During the same quarter last year, the firm posted $0.69 EPS. Equities analysts predict that First Interstate BancSystem will post 3.05 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder James R. Scott, Jr. sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $42.03, for a total value of $105,075.00. Following the completion of the sale, the insider now owns 100,436 shares of the company’s stock, valued at $4,221,325.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Russell A. Lee sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $40.36, for a total value of $56,504.00. Following the completion of the sale, the executive vice president now owns 7,271 shares of the company’s stock, valued at $293,457.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder James R. Scott, Jr. sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $42.03, for a total transaction of $105,075.00. Following the completion of the sale, the insider now directly owns 100,436 shares of the company’s stock, valued at approximately $4,221,325.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,400 shares of company stock worth $688,264. Insiders own 6.40% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in First Interstate BancSystem by 61.3% during the 1st quarter. BlackRock Inc. now owns 8,710,578 shares of the financial services provider’s stock worth $320,287,000 after acquiring an additional 3,311,462 shares during the period. First Interstate Bank grew its holdings in First Interstate BancSystem by 5,153.6% during the 2nd quarter. First Interstate Bank now owns 7,951,944 shares of the financial services provider’s stock worth $303,049,000 after acquiring an additional 7,800,583 shares during the period. Vanguard Group Inc. grew its holdings in First Interstate BancSystem by 116.2% during the 1st quarter. Vanguard Group Inc. now owns 7,747,094 shares of the financial services provider’s stock worth $284,861,000 after acquiring an additional 4,163,577 shares during the period. Macquarie Group Ltd. grew its holdings in First Interstate BancSystem by 2.1% during the 2nd quarter. Macquarie Group Ltd. now owns 5,691,848 shares of the financial services provider’s stock worth $216,936,000 after acquiring an additional 118,736 shares during the period. Finally, State Street Corp grew its holdings in First Interstate BancSystem by 152.8% during the 1st quarter. State Street Corp now owns 4,344,413 shares of the financial services provider’s stock worth $159,744,000 after acquiring an additional 2,626,221 shares during the period. Institutional investors and hedge funds own 84.37% of the company’s stock.

First Interstate BancSystem Company Profile

(Get Rating)

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.

Further Reading

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