Todays Report: The First Interstate BancSystem Inc. (FIBK) Price Target Raised to $34.00 at Barclays PLC

The First Interstate BancSystem Inc. (FIBK) Price Target Raised to $34.00 at Barclays PLC

First Interstate BancSystem Inc. (NASDAQ:FIBK) had its price target upped by Barclays PLC from $31.00 to $34.00 in a research report report published on Tuesday. Barclays PLC currently has an overweight rating on the financial services provider’s stock.

Several other equities research analysts have also weighed in on the company. Zacks Investment Research raised First Interstate BancSystem from a sell rating to a hold rating in a research report on Friday, July 29th. FIG Partners reaffirmed a market perform rating on shares of First Interstate BancSystem in a research report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. First Interstate BancSystem presently has an average rating of Hold and a consensus target price of $31.00.

First Interstate BancSystem (NASDAQ:FIBK) traded up 1.09% during midday trading on Tuesday, reaching $32.35. 10,832 shares of the company’s stock were exchanged. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 16.34 and a beta of 1.09. The firm’s 50 day moving average is $31.21 and its 200 day moving average is $29.04. First Interstate BancSystem has a 52 week low of $24.92 and a 52 week high of $32.67.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Monday, July 25th. The financial services provider reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. First Interstate BancSystem had a return on equity of 9.52% and a net margin of 21.57%. On average, equities analysts anticipate that First Interstate BancSystem will post $2.11 earnings per share for the current year.

In other news, Director Jonathan R. Scott sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $29.07, for a total value of $116,280.00. Following the transaction, the director now owns 4,958 shares of the company’s stock, valued at $144,129.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jonathan R. Scott sold 960 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $30.20, for a total value of $28,992.00. Following the completion of the transaction, the director now directly owns 49,858 shares in the company, valued at approximately $1,505,711.60. The disclosure for this sale can be found here. Company insiders own 38.22% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Calvert Investment Management Inc. raised its position in First Interstate BancSystem by 86.2% in the second quarter. Calvert Investment Management Inc. now owns 130,687 shares of the financial services provider’s stock worth $3,672,000 after buying an additional 60,482 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in First Interstate BancSystem during the second quarter worth about $4,937,000. Mutual of America Capital Management LLC raised its position in First Interstate BancSystem by 2.9% in the second quarter. Mutual of America Capital Management LLC now owns 140,774 shares of the financial services provider’s stock worth $3,956,000 after buying an additional 3,939 shares during the last quarter. Bank of New York Mellon Corp raised its position in First Interstate BancSystem by 5.5% in the second quarter. Bank of New York Mellon Corp now owns 1,174,028 shares of the financial services provider’s stock worth $32,989,000 after buying an additional 61,576 shares during the last quarter. Finally, Cypress Capital Management LLC WY bought a new position in First Interstate BancSystem during the second quarter worth about $4,046,000. 32.96% of the stock is currently owned by institutional investors and hedge funds.

First Interstate BancSystem Company Profile

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