First Interstate BancSystem (NASDAQ:FIBK) Stock Rating Upgraded by StockNews.com

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

Several other brokerages have also weighed in on FIBK. Stephens reduced their price objective on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Piper Sandler cut their price target on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. UBS Group started coverage on First Interstate BancSystem in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 price objective on the stock. Keefe, Bruyette & Woods upped their price objective on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Barclays lifted their target price on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the stock an “underweight” rating in a research note on Thursday, December 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $36.14.

First Interstate BancSystem Stock Performance

Shares of NASDAQ:FIBK traded down $0.10 during midday trading on Monday, reaching $30.60. The company had a trading volume of 765,963 shares, compared to its average volume of 580,564. First Interstate BancSystem has a 52-week low of $24.16 and a 52-week high of $36.77. The company’s 50 day moving average price is $32.19 and its 200 day moving average price is $31.91. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. The stock has a market cap of $3.20 billion, a P/E ratio of 13.97 and a beta of 0.85.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. As a group, sell-side analysts anticipate that First Interstate BancSystem will post 2.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $32.56, for a total value of $43,467.60. Following the transaction, the director now owns 1,414,886 shares of the company’s stock, valued at approximately $46,068,688.16. This represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On First Interstate BancSystem

Large investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd purchased a new stake in shares of First Interstate BancSystem in the 3rd quarter valued at about $34,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of First Interstate BancSystem in the third quarter worth approximately $69,000. Meeder Asset Management Inc. purchased a new stake in First Interstate BancSystem in the fourth quarter valued at approximately $69,000. Covestor Ltd raised its stake in First Interstate BancSystem by 25.8% in the fourth quarter. Covestor Ltd now owns 2,485 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 510 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position in First Interstate BancSystem by 826.3% during the fourth quarter. Sterling Capital Management LLC now owns 2,501 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 2,231 shares during the last quarter. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Company Profile

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.