First Interstate BancSystem (NASDAQ:FIBK) was downgraded from a “buy” rating to a “hold” rating by Zacks Investment Research in a report published Friday, Zacks.com reports.

According to Zacks, “First Interstate BancSystem, Inc. is a financial and banking holding company. Through its wholly owned subsidiary, First Interstate Bank, it offers a variety of banking products and services to individuals, businesses, municipalities and other entities. The Company’s banking products and services include sight, time, check and savings deposits. The Company’s loan portfolio consists of a mix of real estate, consumer, commercial, farm and other loans, including fixed and adjustable rate loans Real estate loans include commercial real estate, construction, home, farm and other real estate loans, as well as a range of trust, benefit and , investment management, insurance, agency and custodian services for individuals, businesses and not-for-profit organizations. First Interstate BancSystem, Inc. is headquartered in Billings, Montana.”

Separately, Wells Fargo & Company lowered its target price on First Interstate BancSystem to $45.00 from $47.00 and rated the company “overweight” in a research report on Tuesday, January 4.

FIBK shares rose $0.51 on Friday to hit $36.71. The company’s shares had a trading volume of 1,023,238 shares compared to an average volume of 1,059,731. First Interstate BancSystem has a 52-week low of $36.01 and a 52-week high of $51.24. The company has a market cap of $2.28 billion, a P/E of 11.80 and a beta of 1.12. The company has a 50-day moving average of $40.58 and a 200-day moving average of $41.78. The company has a gearing ratio of 0.10, a current ratio of 0.69 and a quick ratio of 0.69.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Thursday, January 27th. The financial services firm reported earnings per share (EPS) of $0.83 for the quarter, beating analyst consensus estimates of $0.72 by $0.11. The company had revenue of $159.20 million for the quarter, compared to analyst estimates of $161.03 million. First Interstate BancSystem had a return on equity of 10.10% and a net margin of 28.45%. The company’s quarterly revenue declined 1.9% year over year. In the same period last year, the company posted $0.76 per share. As a group, equity analysts expect First Interstate BancSystem to post 2.61 EPS for the current fiscal year.

Also, CEO Kevin P. Riley acquired 2,880 shares of the company’s stock in a transaction that took place on Monday, December 13th. The stock was acquired at an average price of $39.39 per share for a total transaction of $113,443.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this link. In addition, Director Ross E. Leckie purchased 1,000 shares of the company’s stock in a transaction that took place on Wednesday, February 2nd. The shares were purchased at an average price of $36.79 per share for a total value of $36,790.00. The disclosure for this purchase can be found here. Insiders bought 4,880 shares of the company’s shares for $192,148 last quarter. 21.99% of the shares are owned by company insiders.

A number of institutional investors have been buying and selling FIBK shares recently. FourThought Financial LLC increased its position in First Interstate BancSystem shares by 990.4% in the third quarter. FourThought Financial LLC now owns 796 shares of the financial services provider, valued at $32,000, after purchasing an additional 723 shares last quarter. FORA Capital LLC acquired a new interest in First Interstate BancSystem stock valued at approximately $51,000 during the second quarter. Point72 Hong Kong Ltd acquired a new interest in First Interstate BancSystem stock valued at approximately $74,000 during the third quarter. Amalgamated Bank acquired a new interest in First Interstate BancSystem stock valued at approximately $241,000 during the second quarter. Finally, during the second quarter, Man Group plc acquired a new interest in First Interstate BancSystem stock valued at approximately $243,000. 57.33% of the shares are currently owned by hedge funds and other institutional investors.

About First Interstate BancSystem

First Interstate BancSystem, Inc is a financial holding company engaged in the provision of community banking solutions. The Company provides business and consumer banking services to individuals, businesses, municipalities and other entities. It also offers internet, mobile and other banking and financial services.

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