First Interstate BancSystem (NASDAQ:FIBK) Receives “Buy” Rating from DA Davidson

First Interstate BancSystem (NASDAQ:FIBK)‘s stock had its “buy” rating restated by research analysts at DA Davidson in a research report issued on Thursday,Benzinga reports. They currently have a $42.00 price target on the financial services provider’s stock. DA Davidson’s price target indicates a potential upside of 27.47% from the company’s previous close.

Several other equities research analysts have also weighed in on FIBK. Barclays lifted their price target on First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods lifted their price target on First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Stephens restated an “overweight” rating and set a $36.00 price target on shares of First Interstate BancSystem in a research report on Thursday, October 10th. Wells Fargo & Company dropped their target price on First Interstate BancSystem from $30.00 to $29.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. Finally, Piper Sandler dropped their target price on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Three analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $35.29.

First Interstate BancSystem Price Performance

Shares of FIBK stock opened at $32.95 on Thursday. The firm has a market cap of $3.44 billion, a P/E ratio of 15.05 and a beta of 0.85. First Interstate BancSystem has a fifty-two week low of $24.16 and a fifty-two week high of $36.77. The business’s 50 day moving average price is $33.10 and its 200-day moving average price is $31.61. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. On average, equities research analysts anticipate that First Interstate BancSystem will post 2.53 earnings per share for the current year.

Insider Transactions at First Interstate BancSystem

In other news, major shareholder James R. Scott, Jr. sold 6,067 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $34.50, for a total value of $209,311.50. Following the completion of the transaction, the insider now owns 75,387 shares in the company, valued at $2,600,851.50. The trade was a 7.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan R. Scott sold 6,500 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total value of $222,170.00. Following the completion of the transaction, the director now owns 958,710 shares of the company’s stock, valued at $32,768,707.80. This represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,837 shares of company stock worth $1,839,583 over the last quarter. 6.90% of the stock is currently owned by insiders.

Institutional Trading of First Interstate BancSystem

Hedge funds have recently bought and sold shares of the company. Point72 DIFC Ltd purchased a new stake in First Interstate BancSystem during the third quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in First Interstate BancSystem during the third quarter valued at $69,000. KBC Group NV increased its position in First Interstate BancSystem by 34.1% during the fourth quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 1,022 shares during the last quarter. CWM LLC increased its position in First Interstate BancSystem by 65.0% during the third quarter. CWM LLC now owns 5,152 shares of the financial services provider’s stock valued at $158,000 after acquiring an additional 2,029 shares during the last quarter. Finally, Telos Capital Management Inc. purchased a new stake in First Interstate BancSystem during the third quarter valued at $201,000. Hedge funds and other 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.