First Interstate BancSystem (NASDAQ:FIBK) Price Target Cut to $41.00 by Analysts at Piper Sandler

First Interstate BancSystem (NASDAQ:FIBK) had its target price cut by equities research analysts at Piper Sandler from $42.00 to $41.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target suggests a potential upside of 27.69% from the stock’s previous close.

FIBK has been the topic of a number of other research reports. DA Davidson reissued a “buy” rating and issued a $42.00 price target on shares of First Interstate BancSystem in a research report on Thursday. UBS Group began coverage on shares of First Interstate BancSystem in a research report on Tuesday, December 17th. They set a “neutral” rating and a $35.00 target price for the company. StockNews.com lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Tuesday, December 24th. Stephens dropped their target price on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Keefe, Bruyette & Woods raised their price target on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.14.

First Interstate BancSystem Stock Down 2.6 %

Shares of FIBK stock traded down $0.84 on Monday, hitting $32.11. The company’s stock had a trading volume of 170,000 shares, compared to its average volume of 592,578. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 14.62 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 firm’s fifty 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 current ratio of 0.78 and a quick ratio of 0.78.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results 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%. Research analysts anticipate that First Interstate BancSystem will post 2.54 EPS for the current year.

Insiders Place Their Bets

In other First Interstate BancSystem news, major shareholder James R. Scott, Jr. sold 6,067 shares of First Interstate BancSystem 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 approximately $2,600,851.50. The trade was a 7.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Julie A. Scott sold 20,220 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $32.78, for a total value of $662,811.60. Following the completion of the sale, the insider now owns 635,069 shares of the company’s stock, valued at approximately $20,817,561.82. This trade represents a 3.09 % 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 worth $1,839,583 over the last quarter. Company insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On First Interstate BancSystem

A number of hedge funds have recently added to or reduced their stakes in FIBK. BNP Paribas Financial Markets lifted its position in shares of First Interstate BancSystem by 97.0% during the third quarter. BNP Paribas Financial Markets now owns 31,779 shares of the financial services provider’s stock worth $975,000 after purchasing an additional 15,649 shares in the last quarter. Jane Street Group LLC increased its position in First Interstate BancSystem by 13.9% in the third quarter. Jane Street Group LLC now owns 188,084 shares of the financial services provider’s stock worth $5,770,000 after purchasing an additional 22,899 shares during the period. Barclays PLC grew its position in shares of First Interstate BancSystem by 18.6% during the 3rd quarter. Barclays PLC now owns 206,213 shares of the financial services provider’s stock worth $6,326,000 after buying an additional 32,298 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in First Interstate BancSystem by 37,734.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 141,502 shares of the financial services provider’s stock valued at $4,595,000 after buying an additional 141,128 shares during the period. Finally, Empower Advisory Group LLC boosted its stake in First Interstate BancSystem by 4.8% in the third quarter. Empower Advisory Group LLC now owns 466,687 shares of the financial services provider’s stock valued at $14,318,000 after acquiring an additional 21,191 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.