Teachers Retirement System of The State of Kentucky Has $3.46 Million Stock Holdings in First Interstate BancSystem, Inc. $FIBK

Key Points

• Teachers Retirement System of The State of Kentucky boosted its position in First Interstate BancSystem (NASDAQ:FIBK) by 50.7% in Q4 to 99,986 shares, worth about $3.46 million (0.10% of the company).
• Analysts are mixed—four Buy, two Hold and two Sell—resulting in a MarketBeat consensus rating of Hold with a $38.00 average target, versus the stock's recent price near $35.33.
• First Interstate reported Q4 EPS of $1.08, beating estimates by $0.44, while revenue was $205.1 million (up 19.8% year‑over‑year) but fell short of the ~$256.9 million analyst estimate.

Teachers Retirement System of The State of Kentucky grew its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 50.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 99,986 shares of the financial services provider's stock after buying an additional 33,627 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.10% of First Interstate BancSystem worth $3,459,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. First Horizon Corp bought a new position in First Interstate BancSystem in the third quarter valued at about $26,000. EverSource Wealth Advisors LLC increased its position in First Interstate BancSystem by 139.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider's stock worth $43,000 after purchasing an additional 862 shares during the period. Jones Financial Companies Lllp raised its holdings in First Interstate BancSystem by 1,485.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,601 shares of the financial services provider's stock worth $52,000 after purchasing an additional 1,500 shares during the last quarter. CIBC Private Wealth Group LLC bought a new stake in First Interstate BancSystem during the 3rd quarter worth about $52,000. Finally, GAMMA Investing LLC lifted its position in First Interstate BancSystem by 49.6% during the 4th quarter. GAMMA Investing LLC now owns 1,556 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 516 shares during the period. Institutional investors own 88.71% of the company's stock.

Wall Street Analyst Weigh In

FIBK has been the topic of several recent research reports. DA Davidson reaffirmed a "buy" rating and issued a $42.00 target price on shares of First Interstate BancSystem in a research note on Thursday, January 29th. Wells Fargo & Company increased their price objective on shares of First Interstate BancSystem from $30.00 to $36.00 and gave the company an "underweight" rating in a report on Monday, March 30th. Barclays reduced their price objective on shares of First Interstate BancSystem from $38.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Friday, January 30th. Keefe, Bruyette & Woods lowered their target price on shares of First Interstate BancSystem from $39.00 to $38.00 and set an "outperform" rating for the company in a report on Thursday, April 9th. Finally, Wall Street Zen cut shares of First Interstate BancSystem from a "hold" rating to a "sell" rating in a research report on Saturday. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $38.00.

First Interstate BancSystem Stock Performance

Shares of FIBK stock opened at $35.33 on Tuesday. The stock has a market cap of $3.57 billion, a PE ratio of 11.98 and a beta of 0.77. The stock has a 50-day moving average of $34.33 and a 200-day moving average of $34.36. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.72 and a quick ratio of 0.72. First Interstate BancSystem, Inc. has a one year low of $24.76 and a one year high of $39.26.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.44. First Interstate BancSystem had a net margin of 21.40% and a return on equity of 8.83%. The business had revenue of $205.10 million for the quarter, compared to analyst estimates of $256.89 million. During the same quarter last year, the firm earned $0.50 EPS. First Interstate BancSystem's quarterly revenue was up 19.8% compared to the same quarter last year. As a group, sell-side analysts expect that First Interstate BancSystem, Inc. will post 2.71 earnings per share for the current year.

About First Interstate BancSystem

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.

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