First Interstate Bancsystem (NASDAQ:FIBK) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of First Interstate Bancsystem (NASDAQ:FIBK) from a sell rating to a hold rating in a research report sent to investors on Wednesday, ValuEngine reports.

A number of other equities research analysts also recently commented on FIBK. Zacks Investment Research upgraded First Interstate Bancsystem from a sell rating to a hold rating in a research report on Wednesday. BidaskClub downgraded First Interstate Bancsystem from a buy rating to a hold rating in a research report on Wednesday, August 28th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $43.98.

Shares of NASDAQ:FIBK traded up $0.31 during mid-day trading on Wednesday, reaching $39.72. The stock had a trading volume of 131,612 shares, compared to its average volume of 194,791. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.57 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 1.61 and a beta of 1.19. First Interstate Bancsystem has a 1 year low of $34.61 and a 1 year high of $46.51. The business’s 50 day moving average price is $39.41 and its 200 day moving average price is $39.62.

First Interstate Bancsystem (NASDAQ:FIBK) last posted its earnings results on Tuesday, July 30th. The financial services provider reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The firm had revenue of $164.70 million during the quarter, compared to analysts’ expectations of $163.66 million. First Interstate Bancsystem had a return on equity of 10.24% and a net margin of 24.08%. Analysts predict that First Interstate Bancsystem will post 3.06 earnings per share for the current fiscal year.

In other First Interstate Bancsystem news, Director Ross E. Leckie sold 1,219 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $39.27, for a total transaction of $47,870.13. Following the sale, the director now directly owns 17,027 shares in the company, valued at $668,650.29. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ross E. Leckie sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $40.60, for a total value of $121,800.00. Following the sale, the director now owns 14,027 shares in the company, valued at $569,496.20. The disclosure for this sale can be found here. Corporate insiders own 24.93% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its position in First Interstate Bancsystem by 15.7% during the second quarter. Royal Bank of Canada now owns 33,447 shares of the financial services provider’s stock valued at $1,325,000 after purchasing an additional 4,545 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its position in First Interstate Bancsystem by 94.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,051 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 2,451 shares during the period. United Services Automobile Association purchased a new stake in First Interstate Bancsystem during the second quarter valued at approximately $233,000. Susquehanna International Group LLP purchased a new stake in First Interstate Bancsystem during the second quarter valued at approximately $542,000. Finally, Nuveen Asset Management LLC purchased a new stake in First Interstate Bancsystem during the second quarter valued at approximately $7,031,000. Institutional investors and hedge funds own 49.15% 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.

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