First Interstate Bancsystem (NASDAQ:FIBK) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Wednesday.

FIBK has been the subject of a number of other research reports. Zacks Investment Research cut First Interstate Bancsystem from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. ValuEngine cut First Interstate Bancsystem from a “buy” rating to a “hold” rating in a report on Monday, June 11th. Finally, Barclays reissued a “buy” rating and issued a $48.00 price objective on shares of First Interstate Bancsystem in a report on Sunday, July 29th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $47.00.

Shares of FIBK opened at $45.60 on Wednesday. First Interstate Bancsystem has a one year low of $33.33 and a one year high of $46.85. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.07. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 1.73 and a beta of 1.08.

First Interstate Bancsystem (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.74 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.74. First Interstate Bancsystem had a return on equity of 10.35% and a net margin of 23.86%. The company had revenue of $141.40 million during the quarter, compared to analysts’ expectations of $139.12 million. equities research analysts expect that First Interstate Bancsystem will post 2.98 earnings per share for the current year.

In other news, Director John M. Heyneman, Jr. sold 2,000 shares of the business’s stock in a transaction dated Sunday, November 25th. The stock was sold at an average price of $37.35, for a total value of $74,700.00. Following the completion of the transaction, the director now owns 3,621 shares of the company’s stock, valued at approximately $135,244.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John M. Heyneman, Jr. sold 1,000 shares of the business’s stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $41.87, for a total value of $41,870.00. Following the completion of the transaction, the director now directly owns 3,621 shares of the company’s stock, valued at approximately $151,611.27. The disclosure for this sale can be found here. In the last three months, insiders sold 13,000 shares of company stock valued at $563,490. Insiders own 40.23% of the company’s stock.

Several hedge funds have recently modified their holdings of FIBK. American Century Companies Inc. raised its holdings in First Interstate Bancsystem by 2.2% in the 1st quarter. American Century Companies Inc. now owns 64,335 shares of the financial services provider’s stock worth $2,544,000 after purchasing an additional 1,399 shares during the period. Victory Capital Management Inc. raised its holdings in First Interstate Bancsystem by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 10,521 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 1,445 shares during the period. Barclays PLC raised its holdings in First Interstate Bancsystem by 25.7% in the 1st quarter. Barclays PLC now owns 8,678 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 1,777 shares during the period. LSV Asset Management raised its holdings in First Interstate Bancsystem by 0.3% in the 1st quarter. LSV Asset Management now owns 680,200 shares of the financial services provider’s stock worth $26,901,000 after purchasing an additional 1,800 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in First Interstate Bancsystem by 68.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 4,507 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 1,829 shares during the period. 49.96% of the stock is owned by institutional investors and hedge funds.

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. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.

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Analyst Recommendations for First Interstate Bancsystem (NASDAQ:FIBK)

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