First Interstate BancSystem, Inc. (FIBK) Rating Increased to Buy at ValuEngine

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.

Analyst Recommendations for First Interstate BancSystem (NASDAQ:FIBK)

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.

TRADEMARK VIOLATION NOTICE: This article was first reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The correct version of this article can be read at https://www.chaffeybreeze.com/2017/06/17/valuengine-upgrades-first-interstate-bancsystem-inc-fibk-to-buy-updated-updated.html.

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.

Receive News & Ratings for First Interstate BancSystem Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Interstate BancSystem Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply