First Interstate Bancsystem (NASDAQ:FIBK) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Wednesday, BidAskClub reports.

A number of other analysts also recently issued reports on FIBK. Zacks Investment Research raised First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Stephens began coverage on shares of First Interstate Bancsystem in a report on Monday, January 14th. They issued an “overweight” rating and a $37.90 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $47.38.

Shares of First Interstate Bancsystem stock opened at $40.53 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $2.46 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 1.45 and a beta of 1.15. First Interstate Bancsystem has a fifty-two week low of $34.61 and a fifty-two week high of $47.05.

First Interstate Bancsystem (NASDAQ:FIBK) last posted its earnings results on Wednesday, January 30th. The financial services provider reported $0.76 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.76. First Interstate Bancsystem had a return on equity of 10.93% and a net margin of 25.98%. The company had revenue of $153.20 million for the quarter, compared to the consensus estimate of $151.76 million. Equities research analysts predict that First Interstate Bancsystem will post 3.11 EPS for the current year.

In other First Interstate Bancsystem news, Director Jonathan R. Scott sold 15,670 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $41.14, for a total transaction of $644,663.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ross E. Leckie sold 2,204 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $42.13, for a total value of $92,854.52. Following the transaction, the director now owns 17,027 shares in the company, valued at $717,347.51. The disclosure for this sale can be found here. Company insiders own 24.93% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of FIBK. Macquarie Group Ltd. raised its holdings in shares of First Interstate Bancsystem by 9.1% in the 3rd quarter. Macquarie Group Ltd. now owns 2,989,086 shares of the financial services provider’s stock valued at $133,911,000 after buying an additional 248,930 shares during the period. Vanguard Group Inc grew its position in First Interstate Bancsystem by 14.0% in the 3rd quarter. Vanguard Group Inc now owns 2,855,431 shares of the financial services provider’s stock valued at $127,924,000 after acquiring an additional 349,804 shares in the last quarter. Vanguard Group Inc. increased its stake in First Interstate Bancsystem by 14.0% during the third quarter. Vanguard Group Inc. now owns 2,855,431 shares of the financial services provider’s stock worth $127,924,000 after purchasing an additional 349,804 shares during the period. Bank of New York Mellon Corp increased its stake in First Interstate Bancsystem by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 2,567,209 shares of the financial services provider’s stock worth $115,012,000 after purchasing an additional 41,212 shares during the period. Finally, BlackRock Inc. increased its stake in First Interstate Bancsystem by 13.6% during the fourth quarter. BlackRock Inc. now owns 2,472,238 shares of the financial services provider’s stock worth $90,384,000 after purchasing an additional 295,345 shares during the period. 49.56% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for First Interstate Bancsystem (NASDAQ:FIBK)

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