First Interstate Bancsystem (NASDAQ:FIBK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “First Interstate BancSystem, Inc. is a financial and bank holding company. Through its wholly-owned subsidiary, First Interstate Bank, it delivers a range of banking products and services to individuals, businesses, municipalities and other entities throughout its market areas. The Company’s banking products and services include demand, time, checking, and savings deposits. The Company’s loan portfolio consists of a mix of real estate, consumer, commercial, agricultural, and other loans, including fixed and variable rate loans. Its real estate loans comprise commercial real estate, construction, residential, agricultural, and other real estate loans. It also provides a range of trust, employee benefit, investment management, insurance, agency, and custodial services to individuals, businesses, and nonprofit organizations. First Interstate BancSystem, Inc. is headquartered in Billings, Montana. “

A number of other research firms also recently weighed in on FIBK. BidaskClub downgraded shares of First Interstate Bancsystem from a “hold” rating to a “sell” rating in a research report on Thursday, January 24th. Stephens began coverage on shares of First Interstate Bancsystem in a research report on Monday, January 14th. They issued an “overweight” rating and a $37.90 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $47.38.

Shares of NASDAQ FIBK traded down $0.11 during trading on Tuesday, reaching $40.53. The company had a trading volume of 207,202 shares, compared to its average volume of 196,450. The firm has a market capitalization of $2.46 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.45 and a beta of 1.15. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06. First Interstate Bancsystem has a 12 month low of $34.61 and a 12 month high of $47.05.

First Interstate Bancsystem (NASDAQ:FIBK) last issued its quarterly earnings data on Wednesday, January 30th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $151.76 million. As a group, analysts forecast that First Interstate Bancsystem will post 3.11 earnings per share for the current fiscal year.

In related news, Director Jonathan R. Scott sold 15,670 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $41.14, for a total transaction of $644,663.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ross E. Leckie sold 2,204 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 17,027 shares of the company’s stock, valued at approximately $717,347.51. The disclosure for this sale can be found here. Company insiders own 24.93% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Quantamental Technologies LLC bought a new stake in shares of First Interstate Bancsystem in the 4th quarter valued at $26,000. Captrust Financial Advisors boosted its stake in First Interstate Bancsystem by 122.3% during the fourth quarter. Captrust Financial Advisors now owns 767 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 422 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in First Interstate Bancsystem by 19.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,479 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 411 shares during the period. Great West Life Assurance Co. Can grew its holdings in First Interstate Bancsystem by 71.4% in the fourth quarter. Great West Life Assurance Co. Can now owns 3,760 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 1,566 shares during the period. Finally, Tower Research Capital LLC TRC bought a new stake in First Interstate Bancsystem in the third quarter valued at $181,000. Institutional investors and hedge funds own 49.56% 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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