First Interstate BancSystem, Inc. (FIBK) Receives $42.33 Consensus PT from Analysts

Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) have earned a consensus recommendation of “Hold” from the eight brokerages that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $42.33.

A number of brokerages have issued reports on FIBK. Zacks Investment Research downgraded First Interstate BancSystem from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. BidaskClub downgraded First Interstate BancSystem from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. ValuEngine downgraded First Interstate BancSystem from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Keefe, Bruyette & Woods set a $43.00 price target on First Interstate BancSystem and gave the company a “hold” rating in a report on Saturday, May 27th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $43.00 price target (down from $44.00) on shares of First Interstate BancSystem in a report on Thursday, June 1st.

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First Interstate BancSystem (NASDAQ FIBK) traded up 0.57% during midday trading on Tuesday, reaching $35.45. 392,872 shares of the company traded hands. The stock has a market capitalization of $2.00 billion, a P/E ratio of 17.15 and a beta of 1.16. The firm has a 50-day moving average of $35.65 and a 200-day moving average of $37.73. First Interstate BancSystem has a 1-year low of $30.21 and a 1-year high of $45.35.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.03. First Interstate BancSystem had a return on equity of 9.44% and a net margin of 21.08%. The company had revenue of $116.50 million during the quarter, compared to the consensus estimate of $119.97 million. On average, analysts predict that First Interstate BancSystem will post $2.29 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Granite Investment Partners LLC increased its position in shares of First Interstate BancSystem by 0.4% in the second quarter. Granite Investment Partners LLC now owns 29,273 shares of the financial services provider’s stock valued at $1,089,000 after buying an additional 113 shares in the last quarter. 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 valued at $125,000 after buying an additional 168 shares in the last quarter. Wrapmanager Inc. increased its position in shares of First Interstate BancSystem by 3.6% in the second quarter. Wrapmanager Inc. now owns 6,322 shares of the financial services provider’s stock valued at $235,000 after buying an additional 217 shares in the last quarter. American Century Companies Inc. increased its position in shares of First Interstate BancSystem by 0.6% in the first quarter. American Century Companies Inc. now owns 61,377 shares of the financial services provider’s stock valued at $2,434,000 after buying an additional 359 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in shares of First Interstate BancSystem by 3.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 12,297 shares of the financial services provider’s stock valued at $488,000 after buying an additional 432 shares in the last quarter. Institutional investors and hedge funds own 44.85% 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.

Analyst Recommendations for First Interstate BancSystem (NASDAQ:FIBK)

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