FY2019 EPS Estimates for First Interstate Bancsystem Inc Increased by FIG Partners (FIBK)
First Interstate Bancsystem Inc (NASDAQ:FIBK) – Analysts at FIG Partners lifted their FY2019 earnings estimates for shares of First Interstate Bancsystem in a report released on Wednesday. FIG Partners analyst T. Coffey now forecasts that the financial services provider will post earnings per share of $3.11 for the year, up from their prior forecast of $2.73.
A number of other analysts have also issued reports on FIBK. Barclays boosted their target price on First Interstate Bancsystem from $43.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $45.00 target price on shares of First Interstate Bancsystem in a research report on Friday, December 22nd. Zacks Investment Research raised First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Wednesday, November 1st. Finally, ValuEngine lowered First Interstate Bancsystem from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. First Interstate Bancsystem currently has an average rating of “Hold” and a consensus target price of $44.75.
First Interstate Bancsystem (NASDAQ FIBK) traded up $0.40 on Friday, reaching $40.30. The company had a trading volume of 153,500 shares, compared to its average volume of 161,833. First Interstate Bancsystem has a 12-month low of $33.33 and a 12-month high of $45.35. The firm has a market capitalization of $2,300.00, a PE ratio of 20.15, a PEG ratio of 1.63 and a beta of 1.18. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.08.
In other First Interstate Bancsystem news, Director Ross E. Leckie sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $39.61, for a total value of $79,220.00. Following the sale, the director now owns 21,028 shares of the company’s stock, valued at $832,919.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ross E. Leckie sold 1,500 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $38.85, for a total value of $58,275.00. Following the sale, the director now directly owns 23,028 shares in the company, valued at approximately $894,637.80. The disclosure for this sale can be found here. In the last three months, insiders sold 114,525 shares of company stock worth $4,240,874. 38.22% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of First Interstate Bancsystem during the third quarter worth $105,000. BNP Paribas Arbitrage SA increased its position in shares of First Interstate Bancsystem by 622.6% during the second quarter. BNP Paribas Arbitrage SA now owns 2,970 shares of the financial services provider’s stock worth $110,000 after acquiring an additional 2,559 shares during the period. Quantbot Technologies LP increased its position in shares of First Interstate Bancsystem by 955.6% during the second quarter. Quantbot Technologies LP now owns 3,019 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 2,733 shares during the period. Brandywine Global Investment Management LLC purchased a new stake in shares of First Interstate Bancsystem during the second quarter worth $142,000. Finally, Victory Capital Management Inc. increased its position in shares of First Interstate Bancsystem by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,531 shares of the financial services provider’s stock worth $169,000 after acquiring an additional 680 shares during the period. 45.22% of the stock is currently owned by institutional investors and hedge funds.
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 also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.
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