The First Interstate BancSystem Inc. (FIBK) Stock Rating Lowered by Zacks Investment Research

The First Interstate BancSystem Inc. (FIBK) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of First Interstate BancSystem Inc. (NASDAQ:FIBK) from a buy rating to a hold rating in a report published on Friday.

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 equities analysts have also recently issued reports on the stock. Sandler O’Neill upgraded shares of First Interstate BancSystem from a hold rating to a buy rating in a research report on Monday, November 21st. Barclays PLC boosted their price objective on shares of First Interstate BancSystem from $31.00 to $34.00 and gave the company an overweight rating in a research report on Tuesday, October 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $37.00.

First Interstate BancSystem (NASDAQ:FIBK) opened at 41.00 on Friday. The company has a 50-day moving average of $41.51 and a 200 day moving average of $33.80. The company has a market cap of $1.84 billion, a PE ratio of 19.62 and a beta of 1.03. First Interstate BancSystem has a 12 month low of $24.94 and a 12 month high of $43.65.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Monday, October 24th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. First Interstate BancSystem had a net margin of 22.52% and a return on equity of 9.66%. On average, equities analysts forecast that First Interstate BancSystem will post $2.14 earnings per share for the current fiscal year.

In related news, Director Jonathan R. Scott sold 5,000 shares of the business’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $42.02, for a total transaction of $210,100.00. Following the transaction, the director now owns 4,958 shares in the company, valued at $208,335.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 38.22% of the company’s stock.

Several institutional investors have recently made changes to their positions in FIBK. First Trust Advisors LP boosted its position in shares of First Interstate BancSystem by 0.5% in the second quarter. First Trust Advisors LP now owns 20,814 shares of the financial services provider’s stock valued at $585,000 after buying an additional 113 shares in the last quarter. US Bancorp DE boosted its position in shares of 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 valued at $129,000 after buying an additional 141 shares in the last quarter. BlackRock Inc. boosted its position in shares of First Interstate BancSystem by 3.8% in the third quarter. BlackRock Inc. now owns 4,941 shares of the financial services provider’s stock valued at $156,000 after buying an additional 180 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of First Interstate BancSystem by 1.0% in the third quarter. California State Teachers Retirement System now owns 41,740 shares of the financial services provider’s stock valued at $1,315,000 after buying an additional 400 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its position in shares of First Interstate BancSystem by 0.7% in the third quarter. Nationwide Fund Advisors now owns 57,627 shares of the financial services provider’s stock valued at $1,816,000 after buying an additional 415 shares in the last quarter. Institutional investors own 33.45% 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 operates through community banking segment.

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