First Interstate BancSystem (NASDAQ:FIBK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “First Interstate BancSystem, Inc. is a financial and bank holding company. Through its wholly-owned subsidiary, First Interstate Bank, it delivers a range of banking products and services to individuals, businesses, municipalities and other entities throughout its market areas. The Company’s banking products and services include demand, time, checking, and savings deposits. The Company’s loan portfolio consists of a mix of real estate, consumer, commercial, agricultural, and other loans, including fixed and variable rate loans. Its real estate loans comprise commercial real estate, construction, residential, agricultural, and other real estate loans. It also provides a range of trust, employee benefit, investment management, insurance, agency, and custodial services to individuals, businesses, and nonprofit organizations. First Interstate BancSystem, Inc. is headquartered in Billings, Montana. “

A number of other brokerages also recently issued reports on FIBK. Wells Fargo & Company downgraded shares of First Interstate BancSystem from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $39.00 to $41.00 in a report on Monday, January 4th. Stephens began coverage on shares of First Interstate BancSystem in a report on Friday, January 15th. They issued an “overweight” rating on the stock. Finally, Janney Montgomery Scott reaffirmed a “neutral” rating and issued a $46.00 target price on shares of First Interstate BancSystem in a research report on Monday, March 29th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $43.25.

Shares of NASDAQ FIBK opened at $46.06 on Tuesday. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 17.78 and a beta of 1.14. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.10. First Interstate BancSystem has a 12 month low of $25.69 and a 12 month high of $51.24. The business has a 50-day moving average of $47.08 and a 200-day moving average of $40.74.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Wednesday, January 27th. The financial services provider reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.03). The business had revenue of $162.30 million during the quarter, compared to the consensus estimate of $169.45 million. First Interstate BancSystem had a return on equity of 8.42% and a net margin of 23.85%. On average, analysts predict that First Interstate BancSystem will post 2.58 earnings per share for the current year.

In other First Interstate BancSystem news, Director Ross E. Leckie sold 1,000 shares of the company’s stock in a transaction dated Wednesday, March 3rd. The stock was sold at an average price of $47.94, for a total value of $47,940.00. Following the completion of the sale, the director now owns 2,721 shares in the company, valued at $130,444.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Jeremy Scott sold 60,100 shares of the firm’s stock in a transaction dated Thursday, February 4th. The stock was sold at an average price of $41.00, for a total value of $2,464,100.00. The disclosure for this sale can be found here. In the last three months, insiders sold 396,281 shares of company stock worth $16,122,653. 21.99% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its stake in First Interstate BancSystem by 32.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,025 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 250 shares during the period. Mengis Capital Management Inc. bought a new stake in shares of First Interstate BancSystem during the 4th quarter valued at $211,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of First Interstate BancSystem by 17.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,527 shares of the financial services provider’s stock valued at $266,000 after buying an additional 987 shares in the last quarter. Squarepoint Ops LLC bought a new position in First Interstate BancSystem in the 3rd quarter worth $291,000. Finally, Jane Street Group LLC bought a new position in First Interstate BancSystem in the 3rd quarter worth $310,000. Institutional investors own 51.27% of the company’s stock.

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

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