First Interstate BancSystem, Inc. (NASDAQ:FIBK) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Wednesday, May 31st.
Other research analysts have also issued research reports about the company. Zacks Investment Research lowered First Interstate BancSystem from a “buy” rating to a “hold” rating in a research report on Wednesday, February 1st. Keefe, Bruyette & Woods set a $43.00 price objective on First Interstate BancSystem and gave the stock a “hold” rating in a research note on Saturday, May 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $42.75.
Shares of First Interstate BancSystem (NASDAQ:FIBK) opened at 37.80 on Wednesday. First Interstate BancSystem has a one year low of $26.45 and a one year high of $45.35. The company’s 50 day moving average price is $37.12 and its 200 day moving average price is $40.05. The firm has a market capitalization of $1.71 billion, a P/E ratio of 17.26 and a beta of 1.14.
First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.02. First Interstate BancSystem had a return on equity of 9.99% and a net margin of 22.60%. The business had revenue of $98 million for the quarter, compared to analyst estimates of $105.22 million. On average, analysts expect that First Interstate BancSystem will post $2.31 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. increased its position in shares of First Interstate BancSystem by 5.6% in the first quarter. Sei Investments Co. now owns 3,154 shares of the financial services provider’s stock worth $125,000 after buying an additional 168 shares during the period. Envestnet Asset Management Inc. increased its position in shares of First Interstate BancSystem by 14.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,162 shares of the financial services provider’s stock worth $177,000 after buying an additional 516 shares during the period. Fifth Third Bancorp purchased a new position in shares of First Interstate BancSystem during the first quarter worth approximately $216,000. Stevens Capital Management LP purchased a new position in shares of First Interstate BancSystem during the first quarter worth approximately $218,000. Finally, Advisors Asset Management Inc. increased its stake in First Interstate BancSystem by 829.0% in the first quarter. Advisors Asset Management Inc. now owns 6,029 shares of the financial services provider’s stock valued at $239,000 after buying an additional 5,380 shares during the period. Hedge funds and other institutional investors own 38.76% of the company’s stock.
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 also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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