First Interstate BancSystem (NASDAQ:FIBK) Upgraded at StockNews.com

First Interstate BancSystem (NASDAQ:FIBK) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other brokerages have also commented on FIBK. Wells Fargo & Company lowered their price objective on First Interstate BancSystem from $30.00 to $25.00 and set an “underweight” rating for the company in a research report on Wednesday, April 9th. Stephens lowered their price target on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Barclays dropped their price objective 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, April 8th. Piper Sandler decreased their target price on shares of 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. Finally, DA Davidson reiterated a “buy” rating and set a $42.00 target price on shares of First Interstate BancSystem in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, First Interstate BancSystem currently has an average rating of “Hold” and a consensus target price of $35.00.

First Interstate BancSystem Price Performance

FIBK opened at $26.97 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market capitalization of $2.82 billion, a PE ratio of 12.32 and a beta of 0.76. The stock’s 50 day moving average price is $27.23 and its 200-day moving average price is $30.77. First Interstate BancSystem has a 52-week low of $22.95 and a 52-week high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Tuesday, April 29th. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The company had revenue of $42.00 million for the quarter, compared to the consensus estimate of $253.50 million. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.57 EPS. On average, equities research analysts predict that First Interstate BancSystem will post 2.53 EPS for the current year.

Insiders Place Their Bets

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of the stock in a transaction that occurred 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 directly owns 1,414,886 shares in the company, valued at approximately $46,068,688.16. This trade represents a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FIBK. Wood Tarver Financial Group LLC purchased a new stake in shares of First Interstate BancSystem in the 4th quarter worth $26,000. JNBA Financial Advisors bought a new stake in First Interstate BancSystem during the first quarter valued at about $29,000. Meeder Asset Management Inc. purchased a new stake in First Interstate BancSystem in the fourth quarter worth about $69,000. Covestor Ltd raised its stake in shares of First Interstate BancSystem by 25.8% in the fourth quarter. Covestor Ltd now owns 2,485 shares of the financial services provider’s stock worth $81,000 after buying an additional 510 shares during the period. Finally, Sterling Capital Management LLC raised its stake in shares of First Interstate BancSystem by 826.3% in the fourth quarter. Sterling Capital Management LLC now owns 2,501 shares of the financial services provider’s stock worth $81,000 after buying an additional 2,231 shares during the period. Hedge funds and other 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.