StockNews.com Upgrades First Interstate BancSystem (NASDAQ:FIBK) to “Hold”

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

A number of other research firms also recently issued reports on FIBK. DA Davidson boosted their price target 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. Stephens restated an “overweight” rating and set a $36.00 price target on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Barclays lowered First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $32.00 to $30.00 in a research report on Thursday, October 31st. Keefe, Bruyette & Woods boosted their price objective on First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Finally, Piper Sandler lowered their target price on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $32.50.

First Interstate BancSystem Trading Down 0.6 %

FIBK traded down $0.19 during trading hours on Tuesday, reaching $33.74. The company’s stock had a trading volume of 619,981 shares, compared to its average volume of 679,086. The business’s 50-day moving average is $30.81 and its 200-day moving average is $29.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.79. The stock has a market cap of $3.53 billion, a PE ratio of 14.80 and a beta of 0.81. First Interstate BancSystem has a fifty-two week low of $22.89 and a fifty-two week high of $34.53.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same period in the previous year, the firm earned $0.70 EPS. As a group, equities research analysts predict that First Interstate BancSystem will post 2.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Julie A. Scott sold 22,050 shares of First Interstate BancSystem stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total transaction of $745,290.00. Following the completion of the sale, the insider now directly owns 613,019 shares of the company’s stock, valued at approximately $20,720,042.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 22,050 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $33.80, for a total value of $745,290.00. Following the completion of the sale, the insider now owns 613,019 shares in the company, valued at approximately $20,720,042.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Julie A. Scott sold 20,220 shares of First Interstate BancSystem stock in a transaction on Friday, November 8th. The shares were sold at an average price of $32.78, for a total transaction of $662,811.60. Following the completion of the transaction, the insider now owns 635,069 shares in the company, valued at approximately $20,817,561.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,820 shares of company stock worth $1,424,926 in the last 90 days. Corporate insiders own 6.90% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Large investors have recently bought and sold shares of the company. CWM LLC raised its stake in First Interstate BancSystem by 16.0% in the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 430 shares during the last quarter. Innealta Capital LLC purchased a new position in First Interstate BancSystem in the second quarter valued at about $106,000. nVerses Capital LLC grew its holdings in First Interstate BancSystem by 412.5% during the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 3,300 shares in the last quarter. Telos Capital Management Inc. bought a new stake in First Interstate BancSystem during the third quarter valued at $201,000. Finally, Washington Trust Bank bought a new position in shares of First Interstate BancSystem during the second quarter valued at approximately $204,000. Institutional investors and hedge funds 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.