First Interstate Bancsystem Inc (FIBK) Receives $46.33 Consensus Price Target from Brokerages
First Interstate Bancsystem Inc (NASDAQ:FIBK) has been assigned a consensus recommendation of “Buy” from the eight analysts that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $46.33.
A number of research analysts have recently issued reports on the company. Zacks Investment Research cut First Interstate Bancsystem from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. BidaskClub cut First Interstate Bancsystem from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 30th. ValuEngine cut First Interstate Bancsystem from a “buy” rating to a “hold” rating in a research note on Monday, June 11th. Finally, Barclays reaffirmed a “buy” rating and set a $48.00 price objective on shares of First Interstate Bancsystem in a research note on Sunday, July 29th.
FIBK opened at $45.55 on Friday. The firm has a market capitalization of $2.59 billion, a P/E ratio of 22.66, a PEG ratio of 1.71 and a beta of 1.10. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.07. First Interstate Bancsystem has a 52 week low of $36.00 and a 52 week high of $47.05.
In other First Interstate Bancsystem news, Director Ross E. Leckie sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $45.91, for a total value of $183,640.00. Following the completion of the sale, the director now directly owns 17,599 shares in the company, valued at $807,970.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John M. Heyneman, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Sunday, November 25th. The stock was sold at an average price of $37.35, for a total transaction of $74,700.00. Following the completion of the sale, the director now owns 3,621 shares of the company’s stock, valued at $135,244.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,000 shares of company stock valued at $300,210. 40.23% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in shares of First Interstate Bancsystem during the first quarter valued at approximately $107,000. Envestnet Asset Management Inc. increased its position in shares of First Interstate Bancsystem by 68.3% during the first quarter. Envestnet Asset Management Inc. now owns 4,507 shares of the financial services provider’s stock valued at $178,000 after acquiring an additional 1,829 shares in the last quarter. Stevens Capital Management LP bought a new stake in shares of First Interstate Bancsystem during the first quarter valued at approximately $219,000. Stifel Financial Corp bought a new stake in shares of First Interstate Bancsystem during the first quarter valued at approximately $223,000. Finally, Koch Industries Inc. bought a new stake in shares of First Interstate Bancsystem during the first quarter valued at approximately $233,000. Institutional investors and hedge funds own 49.94% of the company’s stock.
First Interstate Bancsystem Company Profile
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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