Wells Fargo & Company Issues Pessimistic Forecast for First Interstate BancSystem (NASDAQ:FIBK) Stock Price

First Interstate BancSystem (NASDAQ:FIBK) had its price target lowered by equities researchers at Wells Fargo & Company from $30.00 to $29.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential downside of 8.55% from the company’s current price.

A number of other equities analysts also recently weighed in on FIBK. Keefe, Bruyette & Woods lifted their target price on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Stephens restated an “overweight” rating and set a $36.00 target price on shares of First Interstate BancSystem in a research report on Thursday, October 10th. UBS Group started coverage on First Interstate BancSystem in a report on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 target price for the company. Barclays increased their price target on First Interstate BancSystem from $30.00 to $31.00 and gave the stock an “underweight” rating in a report on Thursday, December 5th. Finally, StockNews.com downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Tuesday, December 24th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $35.00.

First Interstate BancSystem Trading Down 1.5 %

NASDAQ FIBK opened at $31.71 on Monday. The firm has a market capitalization of $3.31 billion, a PE ratio of 13.91 and a beta of 0.84. The business’s 50-day moving average price is $33.24 and its two-hundred day moving average price is $31.04. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem has a 12 month low of $24.16 and a 12 month high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same period in the prior year, the firm earned $0.70 earnings per share. On average, analysts expect that First Interstate BancSystem will post 2.28 EPS for the current year.

Insider Transactions at First Interstate BancSystem

In related news, major shareholder Julie A. Scott sold 20,220 shares of First Interstate BancSystem stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $32.78, for a total transaction of $662,811.60. Following the transaction, the insider now owns 635,069 shares of the company’s stock, valued at $20,817,561.82. The trade was a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $34.50, for a total value of $209,311.50. Following the completion of the sale, the insider now directly owns 75,387 shares of the company’s stock, valued at $2,600,851.50. The trade was a 7.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,837 shares of company stock valued at $1,839,583 over the last three months. Corporate insiders own 6.90% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in First Interstate BancSystem by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider’s stock valued at $127,204,000 after buying an additional 367,212 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of First Interstate BancSystem by 57.3% in the third quarter. Jennison Associates LLC now owns 885,802 shares of the financial services provider’s stock valued at $27,176,000 after acquiring an additional 322,578 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in First Interstate BancSystem by 100.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 211,390 shares of the financial services provider’s stock worth $6,485,000 after acquiring an additional 105,670 shares during the period. Wellington Management Group LLP boosted its position in First Interstate BancSystem by 6.5% in the third quarter. Wellington Management Group LLP now owns 1,288,214 shares of the financial services provider’s stock worth $39,522,000 after purchasing an additional 78,596 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in First Interstate BancSystem in the 3rd quarter valued at $2,362,000. 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.