First Interstate BancSystem (NASDAQ:FIBK) Rating Increased to Hold at StockNews.com

First Interstate BancSystem (NASDAQ:FIBKGet Rating) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Separately, TheStreet upgraded First Interstate BancSystem from a “c” rating to a “b” rating in a research report on Monday, August 29th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.00.

First Interstate BancSystem Price Performance

NASDAQ:FIBK opened at $42.63 on Wednesday. The stock has a fifty day moving average of $40.51 and a 200 day moving average of $37.92. First Interstate BancSystem has a 52-week low of $32.40 and a 52-week high of $45.33. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.64 and a current ratio of 0.65. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 23.42 and a beta of 0.95.

First Interstate BancSystem (NASDAQ:FIBKGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.16). First Interstate BancSystem had a net margin of 14.93% and a return on equity of 8.43%. The firm had revenue of $288.90 million for the quarter, compared to analysts’ expectations of $271.40 million. During the same quarter in the previous year, the business earned $0.69 EPS. On average, research analysts expect that First Interstate BancSystem will post 3.05 EPS for the current fiscal year.

Insider Transactions at First Interstate BancSystem

In other news, major shareholder James R. Scott, Jr. sold 2,500 shares of First Interstate BancSystem stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $41.01, for a total value of $102,525.00. Following the transaction, the insider now owns 102,936 shares in the company, valued at $4,221,405.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder James R. Scott, Jr. sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $41.01, for a total transaction of $102,525.00. Following the transaction, the insider now owns 102,936 shares in the company, valued at approximately $4,221,405.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Russell A. Lee sold 1,400 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $40.36, for a total value of $56,504.00. Following the transaction, the executive vice president now owns 7,271 shares in the company, valued at approximately $293,457.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,400 shares of company stock worth $508,114. Company insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FIBK. First Interstate Bank boosted its position in First Interstate BancSystem by 5,153.6% during the 2nd quarter. First Interstate Bank now owns 7,951,944 shares of the financial services provider’s stock valued at $303,049,000 after acquiring an additional 7,800,583 shares in the last quarter. Vanguard Group Inc. boosted its position in First Interstate BancSystem by 116.2% during the 1st quarter. Vanguard Group Inc. now owns 7,747,094 shares of the financial services provider’s stock valued at $284,861,000 after acquiring an additional 4,163,577 shares in the last quarter. BlackRock Inc. boosted its position in First Interstate BancSystem by 61.3% during the 1st quarter. BlackRock Inc. now owns 8,710,578 shares of the financial services provider’s stock valued at $320,287,000 after acquiring an additional 3,311,462 shares in the last quarter. State Street Corp boosted its position in First Interstate BancSystem by 152.8% during the 1st quarter. State Street Corp now owns 4,344,413 shares of the financial services provider’s stock valued at $159,744,000 after acquiring an additional 2,626,221 shares in the last quarter. Finally, FMR LLC boosted its position in First Interstate BancSystem by 145.6% during the 2nd quarter. FMR LLC now owns 3,564,642 shares of the financial services provider’s stock valued at $135,849,000 after acquiring an additional 2,113,366 shares in the last quarter. Hedge funds and other institutional investors own 84.37% of the company’s stock.

About First Interstate BancSystem

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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.

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