First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives Average Rating of “Hold” from Brokerages

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has been given an average recommendation of “Hold” by the seven analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $35.4286.

A number of research analysts have recently issued reports on FIBK shares. Barclays raised their price target on shares of First Interstate BancSystem from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Monday, August 11th. Weiss Ratings restated a “hold (c+)” rating on shares of First Interstate BancSystem in a research report on Saturday. DA Davidson raised their price target on shares of First Interstate BancSystem from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Finally, Wells Fargo & Company raised their price target on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th.

First Interstate BancSystem Trading Up 1.2%

NASDAQ FIBK opened at $31.63 on Monday. First Interstate BancSystem has a 12 month low of $22.95 and a 12 month high of $36.77. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.75 and a quick ratio of 0.74. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 14.25 and a beta of 0.79. The company’s fifty day moving average price is $31.90 and its two-hundred day moving average price is $29.46.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.12. First Interstate BancSystem had a net margin of 16.04% and a return on equity of 6.82%. The firm had revenue of $248.30 million for the quarter, compared to the consensus estimate of $253.73 million. During the same period in the prior year, the firm posted $0.58 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. As a group, research analysts predict that First Interstate BancSystem will post 2.53 earnings per share for the current fiscal year.

Insider Transactions at First Interstate BancSystem

In related news, Director John M. Heyneman, Jr. sold 11,818 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $30.18, for a total value of $356,667.24. Following the sale, the director owned 5,224 shares of the company’s stock, valued at $157,660.32. This trade represents a 69.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Jonathan R. Scott sold 13,715 shares of the stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $32.09, for a total transaction of $440,114.35. Following the completion of the sale, the insider directly owned 959,109 shares in the company, valued at approximately $30,777,807.81. This trade represents a 1.41% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,818 shares of company stock worth $2,845,925. 8.20% of the stock is currently owned by insiders.

Institutional Trading of First Interstate BancSystem

A number of large investors have recently modified their holdings of the company. HoldCo Asset Management LP bought a new stake in shares of First Interstate BancSystem during the 2nd quarter worth about $102,890,000. Nuveen LLC acquired a new stake in shares of First Interstate BancSystem in the 1st quarter worth approximately $32,796,000. Norges Bank acquired a new stake in shares of First Interstate BancSystem in the 2nd quarter worth approximately $29,082,000. Wellington Management Group LLP lifted its stake in shares of First Interstate BancSystem by 31.6% in the 1st quarter. Wellington Management Group LLP now owns 3,193,047 shares of the financial services provider’s stock worth $91,481,000 after acquiring an additional 767,432 shares during the period. Finally, First Interstate Bank lifted its stake in shares of First Interstate BancSystem by 14.1% in the 1st quarter. First Interstate Bank now owns 5,053,342 shares of the financial services provider’s stock worth $144,778,000 after acquiring an additional 624,268 shares during the period. Institutional investors and hedge funds own 88.71% of the company’s stock.

About First Interstate BancSystem

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.