First Interstate Bancsystem Inc (NASDAQ:FIBK) – Equities research analysts at FIG Partners increased their FY2019 earnings estimates for First Interstate Bancsystem in a note issued to investors on Wednesday. FIG Partners analyst T. Coffey now anticipates that the financial services provider will post earnings per share of $3.11 for the year, up from their previous forecast of $2.73.
Other analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $45.00 target price on shares of First Interstate Bancsystem in a research note on Friday, December 22nd. Barclays lifted their target price 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. Finally, Zacks Investment Research upgraded shares of First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Wednesday, November 1st. One 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’s stock. First Interstate Bancsystem currently has an average rating of “Hold” and a consensus price target of $44.75.
A number of hedge funds and other institutional investors have recently made changes to their positions in FIBK. JPMorgan Chase & Co. lifted its stake in First Interstate Bancsystem by 105.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,670,474 shares of the financial services provider’s stock valued at $62,142,000 after acquiring an additional 858,775 shares during the period. Bank of New York Mellon Corp lifted its stake in First Interstate Bancsystem by 43.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,291,679 shares of the financial services provider’s stock valued at $87,657,000 after acquiring an additional 688,666 shares during the period. Laurion Capital Management LP acquired a new stake in First Interstate Bancsystem during the 2nd quarter valued at approximately $23,962,000. Koch Industries Inc. acquired a new stake in First Interstate Bancsystem during the 2nd quarter valued at approximately $584,000. Finally, Macquarie Group Ltd. lifted its stake in First Interstate Bancsystem by 46.0% during the 3rd quarter. Macquarie Group Ltd. now owns 1,885,343 shares of the financial services provider’s stock valued at $72,114,000 after acquiring an additional 594,414 shares during the period. Institutional investors and hedge funds own 45.22% of the company’s stock.
In other First Interstate Bancsystem news, Director Randall I. Scott sold 6,175 shares of First Interstate Bancsystem stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $40.46, for a total transaction of $249,840.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ross E. Leckie sold 2,000 shares of First Interstate Bancsystem stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $39.61, for a total transaction of $79,220.00. Following the sale, the director now owns 21,028 shares of the company’s stock, valued at $832,919.08. The disclosure for this sale can be found here. Insiders sold a total of 114,525 shares of company stock valued at $4,240,874 over the last quarter. 38.22% of the stock is owned by company insiders.
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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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