Stock On Watch: First Interstate Bancsystem Inc Sets 52-Week High; Strong Momentum for Holders

Stock On Watch: First Interstate Bancsystem Inc Sets 52 Week High; Strong Momentum for Holders

The stock of First Interstate Bancsystem Inc (NASDAQ:FIBK) hit a new 52-week high and has $45.97 target or 36.00% above today’s $33.80 share price. The 5 months bullish chart indicates low risk for the $1.51 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $45.97 price target is reached, the company will be worth $543.60M 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. The stock increased 4.97% or $1.6 during the last trading session, hitting $33.8. About 135,709 shares traded hands or 87.50% up from the average. First Interstate Bancsystem Inc (NASDAQ:FIBK) has risen 18.34% since April 7, 2016 and is uptrending. It has outperformed by 13.56% 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 has “Overweight” rating given by Piper Jaffray on Thursday, July 30. The firm has “Market Perform” rating by FIG Partners given on Wednesday, July 27. The stock has “Outperform” rating given by FIG Partners on Tuesday, February 9. Sandler O’Neill upgraded the shares of FIBK in a report on Wednesday, July 22 to “Buy” rating. As per Wednesday, April 27, the company rating was downgraded by Wood.

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.
Engineers Gate Manager L P last reported 12,593 shares in the company. Financial Bank Of New York Mellon holds 1.17 million shares or 0.01% of its portfolio. Cypress Mngmt Limited Liability Co (Wy) reported 144,001 shares or 0.01% of all its holdings. Moreover, Citigroup has 0% invested in First Interstate Bancsystem Inc (NASDAQ:FIBK) for 11,318 shares. Moreover, Blackrock Fund Advisors has 0% invested in First Interstate Bancsystem Inc (NASDAQ:FIBK) for 478,997 shares. Aqr Cap Mngmt has 410,433 shares for 0.02% of their US portfolio. Glenmede Comm Na, a Pennsylvania-based fund reported 165 shares. Guggenheim Limited Liability Company holds 0% or 17,042 shares in its portfolio. Stockman Asset holds 1.2% or 54,365 shares in its portfolio. Gsa Prtnrs Ltd Liability Partnership last reported 30,244 shares in the company. Prudential Financial holds 0.02% of its portfolio in First Interstate Bancsystem Inc (NASDAQ:FIBK) for 414,743 shares. The North Carolina-based Wedge Mngmt L L P Nc has invested 0% in First Interstate Bancsystem Inc (NASDAQ:FIBK). The New York-based Metropolitan Life Insurance Communication Ny has invested 0% in First Interstate Bancsystem Inc (NASDAQ:FIBK). Blackrock Advsrs Ltd Liability Co last reported 0% of its portfolio in the stock. Becker Capital holds 18,250 shares or 0.02% of its portfolio.

Insider Transactions: Since May 23, 2016, the stock had 0 insider purchases, and 8 selling transactions for $527,786 net activity. 2,000 shares were sold by Scott Jonathan R, worth $56,500. $45,037 worth of shares were sold by Leckie Ross E. on Thursday, August 4. $25,878 worth of First Interstate Bancsystem Inc (NASDAQ:FIBK) was sold by GUENTHNER KEVIN. 6,707 shares were sold by Scott James R. Jr, worth $196,987 on Friday, August 12.

More notable 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 with their article: “First Interstate BancSystem, Inc. Announces Board Leadership Transition” published on November 24, 2015, Businesswire.com published: “First Interstate BancSystem, Inc. Announces Appointment of Chief Credit Officer” on March 10, 2016. More interesting news about First Interstate Bancsystem Inc (NASDAQ:FIBK) were released by: Businesswire.com and their article: “First Interstate BancSystem, Inc.’s Bank Subsidiary Acquires Flathead Bank of …” published on August 12, 2016 as well as Businesswire.com‘s news article titled: “First Interstate BancSystem, Inc. Announces Appointment of Chief Banking Officer” with publication date: October 30, 2015.

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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