First Interstate BancSystem (NASDAQ:FIBK) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Thursday.

A number of other brokerages also recently commented on FIBK. Piper Jaffray reissued a “buy” rating on shares of First Interstate BancSystem in a research report on Wednesday, January 31st. Zacks Investment Research downgraded shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. Barclays lifted their price objective on shares of First Interstate BancSystem from $43.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Sandler O’Neill reissued a “buy” rating and issued a $46.00 price objective on shares of First Interstate BancSystem in a research report on Thursday, March 29th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $45.00.

Shares of FIBK opened at $41.30 on Thursday. First Interstate BancSystem has a one year low of $33.33 and a one year high of $42.90. The stock has a market capitalization of $2,338.56, a PE ratio of 16.76, a PEG ratio of 1.56 and a beta of 1.11. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Wednesday, April 25th. The financial services provider reported $0.68 EPS for the quarter, meeting analysts’ consensus estimates of $0.68. First Interstate BancSystem had a net margin of 20.50% and a return on equity of 9.52%. The company had revenue of $135.00 million during the quarter, compared to the consensus estimate of $136.17 million. research analysts forecast that First Interstate BancSystem will post 2.95 earnings per share for the current fiscal year.

In other news, major shareholder Thomas W. Scott sold 250,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $39.50, for a total transaction of $9,875,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Scott, Jr. sold 6,100 shares of the firm’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $40.07, for a total transaction of $244,427.00. Following the sale, the director now owns 23,412 shares of the company’s stock, valued at approximately $938,118.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 269,050 shares of company stock valued at $10,643,897. 40.23% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of First Interstate BancSystem by 3.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,378,676 shares of the financial services provider’s stock worth $95,266,000 after buying an additional 86,997 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of First Interstate BancSystem by 5.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 113,102 shares of the financial services provider’s stock worth $4,530,000 after buying an additional 6,350 shares during the last quarter. Macquarie Group Ltd. lifted its stake in shares of First Interstate BancSystem by 14.4% during the 4th quarter. Macquarie Group Ltd. now owns 2,156,397 shares of the financial services provider’s stock worth $86,364,000 after buying an additional 271,054 shares during the last quarter. Wells Fargo & Company MN raised its stake in First Interstate BancSystem by 23.4% in the 4th quarter. Wells Fargo & Company MN now owns 160,249 shares of the financial services provider’s stock worth $6,419,000 after purchasing an additional 30,407 shares in the last quarter. Finally, Ramsey Quantitative Systems acquired a new stake in First Interstate BancSystem in the 4th quarter worth about $307,000. Institutional investors own 46.04% of the company’s stock.

About First Interstate BancSystem

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.

Analyst Recommendations for First Interstate BancSystem (NASDAQ:FIBK)

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