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

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $35.00.

Several research analysts recently commented on the company. Stephens reiterated an “overweight” rating and issued a $36.00 price target on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Wells Fargo & Company reduced their target price on First Interstate BancSystem from $30.00 to $29.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. UBS Group initiated coverage on shares of First Interstate BancSystem in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 price target for the company. Barclays increased their price objective on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research note on Thursday, December 5th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

Insider Buying and Selling

In other news, Director Jonathan R. Scott sold 6,500 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total transaction of $222,170.00. Following the completion of the transaction, the director now owns 958,710 shares in the company, valued at approximately $32,768,707.80. This represents a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Julie A. Scott sold 22,050 shares of First Interstate BancSystem stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total transaction of $745,290.00. Following the completion of the sale, the insider now owns 613,019 shares in the company, valued at approximately $20,720,042.20. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,837 shares of company stock worth $1,839,583 over the last quarter. 6.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Interstate BancSystem

Several large investors have recently made changes to their positions in FIBK. Geode Capital Management LLC increased its position in First Interstate BancSystem by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,992,873 shares of the financial services provider’s stock valued at $61,152,000 after acquiring an additional 59,367 shares during the period. Jennison Associates LLC increased its holdings in shares of First Interstate BancSystem by 73.9% during the fourth quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider’s stock valued at $50,020,000 after purchasing an additional 654,688 shares during the period. Wellington Management Group LLP raised its stake in shares of First Interstate BancSystem by 6.5% during the third quarter. Wellington Management Group LLP now owns 1,288,214 shares of the financial services provider’s stock valued at $39,522,000 after purchasing an additional 78,596 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in First Interstate BancSystem by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,073,814 shares of the financial services provider’s stock worth $32,945,000 after purchasing an additional 52,919 shares during the period. Finally, Empower Advisory Group LLC increased its stake in First Interstate BancSystem by 4.8% during the 3rd quarter. Empower Advisory Group LLC now owns 466,687 shares of the financial services provider’s stock valued at $14,318,000 after buying an additional 21,191 shares during the period. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Trading Down 0.1 %

FIBK opened at $32.59 on Friday. The firm’s 50 day moving average is $33.16 and its 200-day moving average is $31.47. First Interstate BancSystem has a 52-week low of $24.16 and a 52-week high of $36.77. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $3.41 billion, a P/E ratio of 14.29 and a beta of 0.85.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same quarter last year, the business posted $0.70 earnings per share. Analysts expect that First Interstate BancSystem will post 2.2 EPS for the current fiscal year.

First Interstate BancSystem Company Profile

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.