Telos Capital Management Inc. Makes New $201,000 Investment in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Telos Capital Management Inc. bought a new position in First Interstate BancSystem, Inc. (NASDAQ:FIBK) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,563 shares of the financial services provider’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of First Interstate BancSystem by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 9,180,595 shares of the financial services provider’s stock worth $282,303,000 after buying an additional 533,293 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in First Interstate BancSystem by 28.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,378 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 744 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in First Interstate BancSystem by 4.2% during the first quarter. Commonwealth Equity Services LLC now owns 49,982 shares of the financial services provider’s stock valued at $1,360,000 after purchasing an additional 2,015 shares in the last quarter. Caprock Group LLC boosted its position in First Interstate BancSystem by 1.8% during the first quarter. Caprock Group LLC now owns 25,251 shares of the financial services provider’s stock valued at $687,000 after purchasing an additional 437 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in First Interstate BancSystem by 235.6% during the first quarter. BNP Paribas Financial Markets now owns 78,311 shares of the financial services provider’s stock valued at $2,131,000 after purchasing an additional 54,973 shares in the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Trading Up 1.1 %

Shares of NASDAQ:FIBK opened at $31.60 on Wednesday. First Interstate BancSystem, Inc. has a 52-week low of $20.81 and a 52-week high of $33.00. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 12.59 and a beta of 0.81. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.92. The business has a 50-day moving average price of $30.29 and a 200-day moving average price of $28.53.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.03. The company had revenue of $244.30 million during the quarter, compared to analysts’ expectations of $246.07 million. First Interstate BancSystem had a return on equity of 8.19% and a net margin of 17.22%. During the same period last year, the business earned $0.66 earnings per share. Equities analysts predict that First Interstate BancSystem, Inc. will post 2.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FIBK shares. StockNews.com downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. DA Davidson raised their price objective on First Interstate BancSystem from $27.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Piper Sandler reaffirmed an “overweight” rating and set a $38.00 price objective on shares of First Interstate BancSystem in a research report on Monday, August 26th. Keefe, Bruyette & Woods raised their price target on First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Finally, Barclays raised their price target on First Interstate BancSystem from $31.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $33.17.

First Interstate BancSystem 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.