First Interstate BancSystem Inc. (FIBK) Price Target Increased to $34.00 by Analysts at Barclays PLC
First Interstate BancSystem Inc. (NASDAQ:FIBK) had its target price boosted by stock analysts at Barclays PLC from $31.00 to $34.00 in a research report issued on Tuesday. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays PLC’s price objective points to a potential upside of 5.59% from the company’s current price.
A number of other analysts have also recently weighed in on FIBK. FIG Partners restated a “market perform” rating on shares of First Interstate BancSystem in a report on Wednesday, July 27th. Zacks Investment Research upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. First Interstate BancSystem has a consensus rating of “Hold” and an average target price of $31.00.
Shares of First Interstate BancSystem (NASDAQ:FIBK) traded down 0.78% during mid-day trading on Tuesday, hitting $31.95. 20,644 shares of the stock traded hands. First Interstate BancSystem has a 52 week low of $24.92 and a 52 week high of $32.67. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 16.14 and a beta of 1.09. The stock has a 50-day moving average of $31.15 and a 200-day moving average of $29.02.
First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Monday, July 25th. The financial services provider reported $0.52 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.52. First Interstate BancSystem had a net margin of 21.57% and a return on equity of 9.52%. Analysts anticipate that First Interstate BancSystem will post $2.11 EPS for the current year.
In related news, CEO Kevin P. Riley bought 2,676 shares of the business’s stock in a transaction on Tuesday, August 9th. The stock was bought at an average price of $29.71 per share, for a total transaction of $79,503.96. Following the transaction, the chief executive officer now directly owns 33,968 shares in the company, valued at $1,009,189.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jonathan R. Scott sold 960 shares of the stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $30.20, for a total transaction of $28,992.00. Following the completion of the sale, the director now owns 49,858 shares of the company’s stock, valued at approximately $1,505,711.60. The disclosure for this sale can be found here. 38.22% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in First Interstate BancSystem by 77.3% in the second quarter. Victory Capital Management Inc. now owns 4,199 shares of the financial services provider’s stock worth $118,000 after buying an additional 1,831 shares during the last quarter. US Bancorp DE increased its position in First Interstate BancSystem by 3.2% in the second quarter. US Bancorp DE now owns 4,576 shares of the financial services provider’s stock worth $129,000 after buying an additional 141 shares in the last quarter. BlackRock Inc. increased its position in First Interstate BancSystem by 232.0% in the second quarter. BlackRock Inc. now owns 4,761 shares of the financial services provider’s stock worth $134,000 after buying an additional 3,327 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in First Interstate BancSystem by 133.2% in the second quarter. O Shaughnessy Asset Management LLC now owns 4,808 shares of the financial services provider’s stock worth $135,000 after buying an additional 2,746 shares in the last quarter. Finally, BlackRock Advisors LLC increased its position in First Interstate BancSystem by 5.3% in the second quarter. BlackRock Advisors LLC now owns 9,388 shares of the financial services provider’s stock worth $264,000 after buying an additional 476 shares in the last quarter. Institutional investors own 32.96% of the company’s stock.
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 operates through community banking segment.
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