First Interstate BancSystem (NASDAQ:FIBK) Stock Rating Reaffirmed by Stephens

First Interstate BancSystem (NASDAQ:FIBK)‘s stock had its “overweight” rating restated by research analysts at Stephens in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $32.00 price target on the financial services provider’s stock. Stephens’ price objective would suggest a potential upside of 18.83% from the company’s previous close.

A number of other equities research analysts also recently weighed in on FIBK. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $29.00 target price on shares of First Interstate BancSystem in a report on Monday, June 17th. StockNews.com downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Friday, June 14th. Piper Sandler lifted their target price on First Interstate BancSystem from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Barclays raised their price objective on 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. Finally, Wells Fargo & Company raised their price objective on First Interstate BancSystem from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, First Interstate BancSystem presently has a consensus rating of “Hold” and an average price target of $30.20.

First Interstate BancSystem Trading Up 3.6 %

Shares of FIBK traded up $0.94 during mid-day trading on Monday, reaching $26.93. 151,750 shares of the company were exchanged, compared to its average volume of 739,474. First Interstate BancSystem has a 52 week low of $20.81 and a 52 week high of $32.54. 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 stock has a market capitalization of $2.82 billion, a PE ratio of 10.73 and a beta of 0.82. The business has a 50 day simple moving average of $26.59 and a two-hundred day simple moving average of $27.36.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. First Interstate BancSystem had a return on equity of 8.51% and a net margin of 17.76%. The company had revenue of $242.20 million during the quarter, compared to the consensus estimate of $236.80 million. On average, analysts predict that First Interstate BancSystem will post 2.28 earnings per share for the current fiscal year.

Insider Activity at First Interstate BancSystem

In related news, Director Jonathan R. Scott sold 29,499 shares of First Interstate BancSystem stock in a transaction 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 in the company, valued at $25,837,857.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Jonathan R. Scott sold 29,499 shares of First Interstate BancSystem stock in a transaction 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 in the company, valued at $25,837,857.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Julie A. Scott sold 209,831 shares of the business’s stock in a transaction on 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 sale, the insider now owns 879,869 shares in the company, valued at $22,251,887.01. The disclosure for this sale can be found here. 6.90% of the stock is owned by insiders.

Institutional Trading of First Interstate BancSystem

Hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC raised its stake in shares of First Interstate BancSystem by 132.8% during the 4th 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 period. Wolverine Asset Management LLC bought a new stake in shares of First Interstate BancSystem during the 4th quarter valued at $39,000. Parallel Advisors LLC raised its stake in shares of First Interstate BancSystem by 205.3% during the 4th quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 856 shares during the period. CWM LLC raised its stake in shares of First Interstate BancSystem by 42.1% during the 4th quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 702 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of First Interstate BancSystem by 28.2% during the 4th 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 during the period. 88.71% of the stock is currently owned by institutional investors.

About First Interstate BancSystem

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.