Wells Fargo & Company Has Lowered Expectations for First Interstate BancSystem (NASDAQ:FIBK) Stock Price

First Interstate BancSystem (NASDAQ:FIBK) had its target price reduced by Wells Fargo & Company from $30.00 to $25.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 1.96% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Barclays decreased their price target on shares of First Interstate BancSystem from $31.00 to $28.00 and set an “underweight” rating on the stock in a research note on Tuesday. Piper Sandler dropped 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 assumed coverage on shares of First Interstate BancSystem in a research note on Tuesday, December 17th. They set a “neutral” rating and a $35.00 price objective for the company. DA Davidson reissued a “buy” rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a research report on Thursday, January 30th. Finally, Stephens lowered their target price on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, First Interstate BancSystem currently has an average rating of “Hold” and an average price target of $35.00.

First Interstate BancSystem Trading Down 5.7 %

Shares of First Interstate BancSystem stock opened at $24.52 on Wednesday. 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 $22.95 and a 12-month high of $36.77. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 11.20 and a beta of 0.81. The company has a fifty day simple moving average of $29.41 and a 200-day simple moving average of $31.36.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 EPS 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%. On average, equities analysts forecast that First Interstate BancSystem will post 2.53 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $32.56, for a total value of $43,467.60. Following the completion of the sale, the director now owns 1,414,886 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FIBK. Vanguard Group Inc. raised its holdings in First Interstate BancSystem by 6.8% during the fourth quarter. Vanguard Group Inc. now owns 9,229,785 shares of the financial services provider’s stock valued at $299,691,000 after buying an additional 587,975 shares in the last quarter. FMR LLC grew its holdings in First Interstate BancSystem by 35.5% in the 4th quarter. FMR LLC now owns 6,786,334 shares of the financial services provider’s stock valued at $220,352,000 after buying an additional 1,778,269 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of First Interstate BancSystem by 2.7% in the fourth quarter. Franklin Resources Inc. now owns 5,474,757 shares of the financial services provider’s stock worth $177,765,000 after acquiring an additional 145,842 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of First Interstate BancSystem by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,045,741 shares of the financial services provider’s stock valued at $163,836,000 after buying an additional 138,050 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in First Interstate BancSystem by 3.8% in the 4th quarter. JPMorgan Chase & Co. now owns 2,936,868 shares of the financial services provider’s stock valued at $95,360,000 after acquiring an additional 107,774 shares in the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

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.