Analysts Set First Interstate BancSystem, Inc. (NASDAQ:FIBK) PT at $33.17

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has earned an average rating of “Hold” from the six ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $33.17.

Several equities analysts have recently issued reports on FIBK shares. StockNews.com lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Stephens reaffirmed an “overweight” rating and issued a $36.00 price target on shares of First Interstate BancSystem in a research report on Thursday, October 10th. DA Davidson boosted their target price on First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Piper Sandler reissued an “overweight” rating and issued a $38.00 target price on shares of First Interstate BancSystem in a research report on Monday, August 26th. Finally, Wells Fargo & Company lowered First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $30.00 to $28.00 in a research report on Tuesday, October 1st.

Institutional Investors Weigh In On First Interstate BancSystem

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mount Yale Investment Advisors LLC purchased a new stake in shares of First Interstate BancSystem during the 3rd quarter valued at about $311,000. Hennion & Walsh Asset Management Inc. increased its position in shares of First Interstate BancSystem by 5.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 507 shares during the last quarter. Altus Wealth Group LLC increased its position in shares of First Interstate BancSystem by 21.4% during the 3rd quarter. Altus Wealth Group LLC now owns 24,512 shares of the financial services provider’s stock valued at $752,000 after purchasing an additional 4,316 shares during the last quarter. Telos Capital Management Inc. purchased a new stake in shares of First Interstate BancSystem during the 3rd quarter valued at about $201,000. Finally, Creative Planning increased its position in shares of First Interstate BancSystem by 23.0% during the 3rd quarter. Creative Planning now owns 30,033 shares of the financial services provider’s stock valued at $921,000 after purchasing an additional 5,618 shares during the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Price Performance

FIBK opened at $31.96 on Thursday. The stock has a 50-day moving average price of $30.36 and a 200-day moving average price of $28.55. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market cap of $3.34 billion, a PE ratio of 12.73 and a beta of 0.81. First Interstate BancSystem has a 1 year low of $20.81 and a 1 year high of $33.00.

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

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.