The stock of First Interstate Bancsystem Inc (NASDAQ:FIBK) hit a new 52-week high and has $54.94 target or 43.00% above today’s $38.42 share price. The 7 months bullish chart indicates low risk for the $1.75B company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $54.94 price target is reached, the company will be worth $752.50M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 87,056 shares traded hands or 4.94% up from the average. First Interstate Bancsystem Inc (NASDAQ:FIBK) has risen 32.53% since April 15, 2016 and is uptrending. It has outperformed by 27.90% the S&P500.
First Interstate Bancsystem Inc (NASDAQ:FIBK) Ratings Coverage
Out of 5 analysts covering First Interstate Bancsystem (NASDAQ:FIBK), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. First Interstate Bancsystem has been the topic of 7 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock of First Interstate Bancsystem Inc (NASDAQ:FIBK) earned “Market Perform” rating by FIG Partners on Wednesday, July 27. On Wednesday, July 22 the stock rating was upgraded by Sandler O’Neill to “Buy”. The stock has “Overweight” rating given by Piper Jaffray on Thursday, July 30. The firm earned “Outperform” rating on Tuesday, February 9 by FIG Partners. The stock has “Market Perform” rating given by Wood on Wednesday, April 27.
According to Zacks Investment Research, “First Interstate BancSystem, Inc. is a financial and bank holding company. Through its wholly-owned subsidiary, First Interstate Bank, it delivers a range of banking products and services to individuals, businesses, municipalities and other entities throughout its market areas. The Company’s banking products and services include demand, time, checking, and savings deposits. The Company’s loan portfolio consists of a mix of real estate, consumer, commercial, agricultural, and other loans, including fixed and variable rate loans. Its real estate loans comprise commercial real estate, construction, residential, agricultural, and other real estate loans. It also provides a range of trust, employee benefit, investment management, insurance, agency, and custodial services to individuals, businesses, and nonprofit organizations. First Interstate BancSystem, Inc. is headquartered in Billings, Montana.”
Insitutional Activity: The institutional sentiment decreased to 1.25 in 2016 Q2. Its down 0.04, from 1.29 in 2016Q1. The ratio dived, as 10 funds sold all First Interstate Bancsystem Inc shares owned while 34 reduced positions. 8 funds bought stakes while 47 increased positions. They now own 14.53 million shares or 2.65% less from 14.93 million shares in 2016Q1.
Johnson Inv Counsel Incorporated has invested 0.02% of its portfolio in First Interstate Bancsystem Inc (NASDAQ:FIBK). Guggenheim Capital last reported 17,042 shares in the company. Gsa Prns Limited Liability Partnership accumulated 0.05% or 30,244 shares. State Common Retirement Fund holds 22,600 shares or 0% of its portfolio. Bridgeway Cap Mngmt owns 189,800 shares or 0.08% of their US portfolio. Lsv Asset Mngmt holds 0.03% of its portfolio in First Interstate Bancsystem Inc (NASDAQ:FIBK) for 553,197 shares. Qs Invsts accumulated 0% or 17 shares. Envestnet Asset Management reported 3,864 shares or 0% of all its holdings. Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in the company for 1,283 shares. State Street accumulated 408,785 shares or 0% of the stock. Bogle Invest Management Lp De last reported 0.04% of its portfolio in the stock. Ladenburg Thalmann Finance Ser, a Florida-based fund reported 915 shares. Nationwide Fund Advisors accumulated 0.01% or 57,212 shares. Dubuque Bankshares Trust Company accumulated 900 shares or 0% of the stock. State Board Of Administration Of Florida Retirement System holds 11,865 shares or 0% of its portfolio.
Insider Transactions: Since May 23, 2016, the stock had 0 insider purchases, and 8 selling transactions for $527,786 net activity. 1,545 shares with value of $45,037 were sold by Leckie Ross E. on Thursday, August 4. $196,987 worth of shares were sold by Scott James R. Jr on Friday, August 12. On Monday, May 23 the insider Scott Jonathan R sold $56,500. Another trade for 897 shares valued at $25,878 was sold by GUENTHNER KEVIN.
More recent First Interstate Bancsystem Inc (NASDAQ:FIBK) news were published by: Businesswire.com which released: “First Interstate BancSystem, Inc. Agrees to Acquire Flathead Bank of Bigfork …” on April 06, 2016. Also Businesswire.com published the news titled: “First Interstate BancSystem, Inc. Announces Appointment of Chief Credit Officer” on March 10, 2016. Businesswire.com‘s news article titled: “First Interstate BancSystem, Inc. Announces Appointment of Chief Banking Officer” with publication date: October 30, 2015 was also an interesting one.
FIBK Company Profile
First Interstate BancSystem, Inc., incorporated on March 15, 1971, is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking services and products to individuals, businesses, municipalities and other entities. The Firm operates through community banking segment. The Company’s community banking segment provides clients with commercial and consumer banking services and products in its market areas through community service activities. The Firm also offers Internet and mobile banking services. In addition to its primary emphasis on commercial and consumer banking services, the Company also offers trust, employee benefit, investment and insurance services through its bank subsidiary. It operates approximately 80 banking offices, including detached drive up facilities, in over 40 communities located in Montana, Wyoming and western South Dakota.
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