First Interstate BancSystem, Inc. (NASDAQ:FIBK) Receives $35.00 Consensus Target Price from Analysts

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has earned a consensus rating of “Hold” from the seven analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $35.00.

FIBK has been the subject of several analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Wells Fargo & Company decreased their price target on First Interstate BancSystem from $30.00 to $29.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Barclays increased their price objective on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. UBS Group initiated coverage on First Interstate BancSystem in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 price target for the company. Finally, Stephens reaffirmed an “overweight” rating and issued a $36.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, October 10th.

Insider Buying and Selling at First Interstate BancSystem

In related news, major shareholder Julie A. Scott sold 20,220 shares of First Interstate BancSystem stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $32.78, for a total transaction of $662,811.60. Following the transaction, the insider now directly owns 635,069 shares of the company’s stock, valued at $20,817,561.82. This trade represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jonathan R. Scott sold 6,500 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total transaction of $222,170.00. Following the transaction, the director now owns 958,710 shares in the company, valued at approximately $32,768,707.80. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,837 shares of company stock valued at $1,839,583 over the last 90 days. 6.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On First Interstate BancSystem

A number of large investors have recently bought and sold shares of FIBK. Geode Capital Management LLC boosted its stake in First Interstate BancSystem by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,992,873 shares of the financial services provider’s stock worth $61,152,000 after buying an additional 59,367 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of First Interstate BancSystem by 73.9% during the fourth quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider’s stock valued at $50,020,000 after buying an additional 654,688 shares during the last quarter. Wellington Management Group LLP grew its position in First Interstate BancSystem by 6.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,288,214 shares of the financial services provider’s stock valued at $39,522,000 after buying an additional 78,596 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of First Interstate BancSystem by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,073,814 shares of the financial services provider’s stock valued at $32,945,000 after buying an additional 52,919 shares during the period. Finally, Empower Advisory Group LLC boosted its stake in shares of First Interstate BancSystem by 4.8% during the 3rd quarter. Empower Advisory Group LLC now owns 466,687 shares of the financial services provider’s stock worth $14,318,000 after acquiring an additional 21,191 shares in the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Stock Up 2.2 %

Shares of FIBK stock opened at $33.30 on Friday. The stock’s 50 day simple moving average is $33.16 and its 200 day simple moving average is $31.51. First Interstate BancSystem has a twelve month low of $24.16 and a twelve month high of $36.77. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 14.61 and a beta of 0.85. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78.

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. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.