Analysts Set First Interstate BancSystem Inc. (FIBK) Target Price at $32.00
First Interstate BancSystem Inc. (NASDAQ:FIBK) has earned a consensus recommendation of “Hold” from the six analysts that are presently covering the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $32.00.
A number of equities research analysts have recently weighed in on FIBK shares. Barclays PLC lifted their price target 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. Zacks Investment Research upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Friday, July 29th. Finally, FIG Partners reiterated a “market perform” rating on shares of First Interstate BancSystem in a research report on Wednesday, July 27th.
In other news, CEO Kevin P. Riley acquired 2,676 shares of the stock in a transaction on Tuesday, August 9th. The stock was acquired at an average cost of $29.71 per share, for a total transaction of $79,503.96. Following the completion of the transaction, the chief executive officer now directly owns 33,968 shares in the company, valued at $1,009,189.28. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jonathan R. Scott sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $29.07, for a total transaction of $116,280.00. Following the transaction, the director now owns 4,958 shares of the company’s stock, valued at $144,129.06. The disclosure for this sale can be found here. Company insiders own 38.22% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in FIBK. TIAA CREF Investment Management LLC increased its position in shares of First Interstate BancSystem by 17.7% in the first quarter. TIAA CREF Investment Management LLC now owns 130,790 shares of the financial services provider’s stock valued at $3,679,000 after buying an additional 19,702 shares in the last quarter. Stockman Asset Management increased its position in shares of First Interstate BancSystem by 259.4% in the first quarter. Stockman Asset Management now owns 54,463 shares of the financial services provider’s stock valued at $1,532,000 after buying an additional 39,310 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of First Interstate BancSystem by 31.2% in the first quarter. Renaissance Technologies LLC now owns 461,700 shares of the financial services provider’s stock valued at $12,988,000 after buying an additional 109,800 shares in the last quarter. Hillcrest Asset Management LLC purchased a new position in shares of First Interstate BancSystem during the first quarter valued at approximately $10,006,000. Finally, Acadian Asset Management LLC increased its position in shares of First Interstate BancSystem by 210.4% in the second quarter. Acadian Asset Management LLC now owns 22,068 shares of the financial services provider’s stock valued at $621,000 after buying an additional 14,958 shares in the last quarter. Institutional investors and hedge funds own 32.96% of the company’s stock.
First Interstate BancSystem (NASDAQ:FIBK) opened at 31.75 on Wednesday. The firm has a 50-day moving average price of $31.34 and a 200-day moving average price of $29.11. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 16.04 and a beta of 1.09. First Interstate BancSystem has a 12 month low of $24.92 and a 12 month high of $32.67.
First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Monday, July 25th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. First Interstate BancSystem had a return on equity of 9.52% and a net margin of 21.57%. On average, equities analysts anticipate that First Interstate BancSystem will post $2.11 earnings per share for the current fiscal year.
About First Interstate BancSystem
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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