First Interstate BancSystem (NASDAQ:FIBK) Coverage Initiated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods started coverage on shares of First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) in a report issued on Monday. The firm set an "outperform" rating and a $32.00 price target on the financial services provider's stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 18.88% from the company's current price.

Several other equities analysts have also commented on FIBK. Wells Fargo & Company cut their price target on First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 9th. Wall Street Zen raised shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a report on Saturday, May 10th. Finally, Barclays dropped their price objective on shares of First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $34.43.

First Interstate BancSystem Stock Performance

Shares of FIBK traded up $0.55 during mid-day trading on Monday, hitting $26.92. 226,554 shares of the company traded hands, compared to its average volume of 696,114. The stock has a 50-day moving average price of $26.99 and a two-hundred day moving average price of $29.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.77 and a current ratio of 0.77. First Interstate BancSystem has a 1 year low of $22.95 and a 1 year high of $36.77. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 12.73 and a beta of 0.79.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07). The business had revenue of $42.00 million during the quarter, compared to the consensus estimate of $253.50 million. First Interstate BancSystem had a return on equity of 6.57% and a net margin of 14.93%. The business's revenue was up 2.0% on a year-over-year basis. During the same period last year, the company earned $0.57 EPS. Equities analysts anticipate that First Interstate BancSystem will post 2.53 earnings per share for the current year.

Institutional Trading of First Interstate BancSystem

Several large investors have recently modified their holdings of FIBK. Quarry LP boosted its holdings in shares of First Interstate BancSystem by 63.8% during the first quarter. Quarry LP now owns 1,155 shares of the financial services provider's stock worth $33,000 after purchasing an additional 450 shares during the last quarter. Deutsche Bank AG increased its stake in shares of First Interstate BancSystem by 0.7% during the 1st quarter. Deutsche Bank AG now owns 70,065 shares of the financial services provider's stock valued at $2,007,000 after acquiring an additional 455 shares during the last quarter. Evergreen Capital Management LLC lifted its holdings in shares of First Interstate BancSystem by 1.9% during the 4th quarter. Evergreen Capital Management LLC now owns 24,580 shares of the financial services provider's stock worth $798,000 after acquiring an additional 468 shares during the period. Covestor Ltd grew its holdings in First Interstate BancSystem by 25.8% in the fourth quarter. Covestor Ltd now owns 2,485 shares of the financial services provider's stock valued at $81,000 after purchasing an additional 510 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in First Interstate BancSystem by 7.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,872 shares of the financial services provider's stock worth $385,000 after purchasing an additional 807 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

About First Interstate BancSystem

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.

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