Barclays PLC Analysts Give First Interstate BancSystem, Inc. (FIBK) a $43.00 Price Target
First Interstate BancSystem, Inc. (NASDAQ:FIBK) received a $43.00 price objective from Barclays PLC in a report issued on Wednesday. The firm presently has a “buy” rating on the financial services provider’s stock. Barclays PLC’s target price would suggest a potential upside of 11.54% from the stock’s current price.
A number of other research analysts also recently issued reports on the stock. BidaskClub downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. ValuEngine downgraded shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Finally, Zacks Investment Research raised shares of First Interstate BancSystem from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $42.50.
First Interstate BancSystem (FIBK) traded down 0.77% during midday trading on Wednesday, hitting $38.55. 126,918 shares of the stock were exchanged. The firm’s 50 day moving average price is $36.33 and its 200 day moving average price is $37.06. First Interstate BancSystem has a 12 month low of $30.70 and a 12 month high of $45.35. The company has a market cap of $2.18 billion, a PE ratio of 18.65 and a beta of 1.17.
First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. First Interstate BancSystem had a net margin of 21.08% and a return on equity of 9.44%. The firm had revenue of $116.50 million for the quarter, compared to the consensus estimate of $119.97 million. On average, equities research analysts forecast that First Interstate BancSystem will post $2.29 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in FIBK. State Board of Administration of Florida Retirement System lifted its stake in First Interstate BancSystem by 3.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 12,297 shares of the financial services provider’s stock valued at $488,000 after acquiring an additional 432 shares during the period. First Trust Advisors LP lifted its stake in shares of First Interstate BancSystem by 9.4% in the 1st quarter. First Trust Advisors LP now owns 39,640 shares of the financial services provider’s stock valued at $1,572,000 after purchasing an additional 3,403 shares during the period. Swiss National Bank lifted its stake in shares of First Interstate BancSystem by 5.0% in the 1st quarter. Swiss National Bank now owns 33,700 shares of the financial services provider’s stock valued at $1,336,000 after purchasing an additional 1,600 shares during the period. Karp Capital Management Corp acquired a new position in shares of First Interstate BancSystem in the 1st quarter valued at $663,000. Finally, Sei Investments Co. lifted its stake in shares of First Interstate BancSystem by 5.6% in the 1st quarter. Sei Investments Co. now owns 3,154 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 168 shares during the period. Institutional investors and hedge funds own 44.85% of the company’s stock.
First Interstate BancSystem Company Profile
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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