First Interstate BancSystem (NASDAQ:FIBK) Sets New 12-Month High at $32.54

First Interstate BancSystem, Inc. (NASDAQ:FIBK) reached a new 52-week high on Tuesday . The stock traded as high as $32.54 and last traded at $32.38, with a volume of 271063 shares. The stock had previously closed at $31.57.

Analysts Set New Price Targets

Several equities analysts have weighed in on FIBK shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $29.00 price objective on shares of First Interstate BancSystem in a research report on Monday, June 17th. Stephens reissued an “overweight” rating and set a $32.00 target price on shares of First Interstate BancSystem in a research note on Monday, June 24th. Barclays lifted their target price on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. StockNews.com lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th. Finally, Wells Fargo & Company lifted their target price on shares of First Interstate BancSystem from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, First Interstate BancSystem currently has a consensus rating of “Hold” and a consensus price target of $30.40.

First Interstate BancSystem Stock Up 1.7 %

The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.78. The business’s 50 day simple moving average is $27.68 and its 200-day simple moving average is $27.16. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 12.81 and a beta of 0.82.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. First Interstate BancSystem had a net margin of 17.76% and a return on equity of 8.51%. The firm had revenue of $242.20 million during the quarter, compared to analyst estimates of $236.80 million. Sell-side analysts expect that First Interstate BancSystem, Inc. will post 2.28 earnings per share for the current year.

Insider Transactions at First Interstate BancSystem

In related news, major shareholder Julie A. Scott sold 209,831 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $25.29, for a total value of $5,306,625.99. Following the completion of the transaction, the insider now owns 879,869 shares of the company’s stock, valued at $22,251,887.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Julie A. Scott sold 209,831 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $25.29, for a total transaction of $5,306,625.99. Following the completion of the sale, the insider now owns 879,869 shares of the company’s stock, valued at $22,251,887.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jonathan R. Scott sold 29,499 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $25.29, for a total transaction of $746,029.71. Following the sale, the director now directly owns 1,021,663 shares of the company’s stock, valued at approximately $25,837,857.27. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Several hedge funds have recently modified their holdings of FIBK. Global Retirement Partners LLC grew its stake in shares of First Interstate BancSystem by 132.8% during the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 530 shares during the last quarter. Caprock Group LLC boosted its stake in First Interstate BancSystem by 1.8% in the fourth quarter. Caprock Group LLC now owns 24,814 shares of the financial services provider’s stock valued at $763,000 after acquiring an additional 443 shares during the last quarter. AlphaMark Advisors LLC bought a new position in First Interstate BancSystem in the fourth quarter valued at approximately $302,000. Nisa Investment Advisors LLC boosted its stake in First Interstate BancSystem by 99.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,870 shares of the financial services provider’s stock valued at $150,000 after acquiring an additional 2,430 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in First Interstate BancSystem by 5.9% in the fourth quarter. Mutual of America Capital Management LLC now owns 253,522 shares of the financial services provider’s stock valued at $7,796,000 after acquiring an additional 14,111 shares during the last quarter. 88.71% of the stock is owned by institutional investors.

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.