First Interstate BancSystem (NASDAQ:FIBK) Rating Increased to Hold at StockNews.com

First Interstate BancSystem (NASDAQ:FIBK) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

A number of other analysts have also commented on FIBK. Stephens reiterated an “overweight” rating and issued a $32.00 price target on shares of First Interstate BancSystem in a research note on Monday. Wells Fargo & Company lifted their price target on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $29.00 price target on shares of First Interstate BancSystem in a research note on Monday, June 17th. Barclays boosted their target price on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Finally, TheStreet lowered shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.20.

First Interstate BancSystem Stock Down 2.4 %

Shares of First Interstate BancSystem stock opened at $26.29 on Monday. 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 $2.75 billion, a PE ratio of 10.47 and a beta of 0.82. First Interstate BancSystem has a 52-week low of $20.81 and a 52-week high of $32.54. The company has a 50-day simple moving average of $26.67 and a two-hundred day simple moving average of $27.34.

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

Insiders Place Their Bets

In other First Interstate BancSystem news, Director Jonathan R. Scott sold 29,499 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $25.29, for a total value of $746,029.71. Following the completion of the transaction, the director now directly owns 1,021,663 shares in the company, valued at $25,837,857.27. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder Julie A. Scott sold 209,831 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $25.29, for a total transaction of $5,306,625.99. Following the sale, the insider now owns 879,869 shares of the company’s stock, valued at $22,251,887.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jonathan R. Scott sold 29,499 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were 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 approximately $25,837,857.27. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On First Interstate BancSystem

Hedge funds and other institutional investors have recently made changes to their positions in the company. abrdn plc raised its stake in shares of First Interstate BancSystem by 8.4% in the fourth quarter. abrdn plc now owns 923,489 shares of the financial services provider’s stock valued at $28,397,000 after acquiring an additional 71,839 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of First Interstate BancSystem by 4.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 931,047 shares of the financial services provider’s stock valued at $28,630,000 after acquiring an additional 42,580 shares during the period. Rafferty Asset Management LLC grew its holdings in shares of First Interstate BancSystem by 27.7% in the fourth quarter. Rafferty Asset Management LLC now owns 146,191 shares of the financial services provider’s stock worth $4,495,000 after purchasing an additional 31,710 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of First Interstate BancSystem by 25.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,099 shares of the financial services provider’s stock worth $618,000 after purchasing an additional 4,040 shares during the last quarter. Finally, FourThought Financial Partners LLC bought a new position in shares of First Interstate BancSystem in the fourth quarter worth about $208,000. Hedge funds and other institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Company 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.