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

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

Other analysts have also recently issued research reports about the company. Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 target price on shares of First Interstate BancSystem in a research report on Monday, August 26th. Wells Fargo & Company lifted their target price on First Interstate BancSystem from $25.00 to $30.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Barclays upped their target price on First Interstate BancSystem from $29.00 to $31.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Stephens raised their price target on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, DA Davidson upped their price objective on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $33.33.

First Interstate BancSystem Price Performance

FIBK stock opened at $30.20 on Thursday. First Interstate BancSystem has a one year low of $20.81 and a one year high of $33.00. The firm has a 50-day moving average of $29.87 and a two-hundred day moving average of $27.67. The firm has a market capitalization of $3.16 billion, a PE ratio of 12.03 and a beta of 0.82. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.92.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC increased its position in First Interstate BancSystem by 205.3% during the fourth quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock worth $39,000 after buying an additional 856 shares during the last quarter. CWM LLC increased its holdings in shares of First Interstate BancSystem by 16.0% during the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 430 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of First Interstate BancSystem by 28.2% in 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 acquiring an additional 744 shares in the last quarter. Innealta Capital LLC acquired a new stake in First Interstate BancSystem in the 2nd quarter worth approximately $106,000. Finally, nVerses Capital LLC boosted its position in First Interstate BancSystem by 412.5% during the second quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 3,300 shares during the period. Institutional investors own 88.71% of the company’s stock.

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.