First Interstate Bancsystem Inc (NASDAQ:FIBK) major shareholder Thomas W. Scott sold 250,000 shares of First Interstate Bancsystem stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $39.50, for a total transaction of $9,875,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
First Interstate Bancsystem Inc (NASDAQ:FIBK) traded up $0.25 on Monday, hitting $40.40. 224,500 shares of the company were exchanged, compared to its average volume of 171,919. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $2,280.78, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 1.51 and a beta of 1.11. First Interstate Bancsystem Inc has a one year low of $33.33 and a one year high of $45.35.
First Interstate Bancsystem (NASDAQ:FIBK) last posted its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.08). The business had revenue of $138.03 million during the quarter, compared to analysts’ expectations of $138.00 million. First Interstate Bancsystem had a return on equity of 9.37% and a net margin of 19.90%. research analysts predict that First Interstate Bancsystem Inc will post 2.97 EPS for the current fiscal year.
A number of analysts have recently commented on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $45.00 price target on shares of First Interstate Bancsystem in a research note on Friday, December 22nd. Piper Jaffray Companies reiterated a “buy” rating on shares of First Interstate Bancsystem in a research note on Wednesday, January 31st. Barclays lifted their price target on shares of First Interstate Bancsystem from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Zacks Investment Research upgraded shares of First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $44.75.
Several institutional investors and hedge funds have recently bought and sold shares of FIBK. New York State Common Retirement Fund boosted its holdings in shares of First Interstate Bancsystem by 45.4% in the second quarter. New York State Common Retirement Fund now owns 44,855 shares of the financial services provider’s stock worth $1,669,000 after buying an additional 13,998 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new position in shares of First Interstate Bancsystem in the second quarter worth approximately $213,000. Northern Trust Corp boosted its holdings in shares of First Interstate Bancsystem by 18.7% in the second quarter. Northern Trust Corp now owns 439,183 shares of the financial services provider’s stock worth $16,338,000 after buying an additional 69,213 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of First Interstate Bancsystem by 28.0% in the second quarter. Vanguard Group Inc. now owns 2,298,523 shares of the financial services provider’s stock worth $85,505,000 after buying an additional 503,474 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of First Interstate Bancsystem by 53.3% in the second quarter. California Public Employees Retirement System now owns 42,769 shares of the financial services provider’s stock worth $1,591,000 after buying an additional 14,869 shares during the last quarter. 45.90% of the stock is currently owned by institutional investors.
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First Interstate Bancsystem Company Profile
First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.
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