First Interstate BancSystem’s (FIBK) Overweight Rating Reaffirmed at Stephens

First Interstate BancSystem (NASDAQ:FIBK)‘s stock had its “overweight” rating reiterated by investment analysts at Stephens in a research report issued on Monday, Benzinga reports. They presently have a $32.00 price objective on the financial services provider’s stock. Stephens’ target price would suggest a potential upside of 21.72% from the company’s previous close.

Other analysts also recently issued reports about the company. Barclays boosted their target price on First Interstate BancSystem from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Piper Sandler upped their price target on First Interstate BancSystem from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $29.00 price target on shares of First Interstate BancSystem in a research note on Monday, June 17th. StockNews.com downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Friday, June 14th. Finally, Wells Fargo & Company raised their target price on First Interstate BancSystem from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.20.

First Interstate BancSystem Trading Down 2.4 %

FIBK opened at $26.29 on Monday. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 10.47 and a beta of 0.82. First Interstate BancSystem has a 52 week low of $20.81 and a 52 week high of $32.54. The business’s 50 day moving average is $26.67 and its two-hundred day moving average is $27.34. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.90.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. The business had revenue of $242.20 million for the quarter, compared to analyst estimates of $236.80 million. First Interstate BancSystem had a return on equity of 8.51% and a net margin of 17.76%. On average, research analysts predict that First Interstate BancSystem will post 2.28 EPS for the current year.

Insider Activity

In related news, Director Jonathan R. Scott sold 29,499 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $25.29, for a total transaction of $746,029.71. Following the completion of the transaction, the director now owns 1,021,663 shares of the company’s stock, valued at approximately $25,837,857.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other First Interstate BancSystem news, Director Jonathan R. Scott sold 29,499 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $25.29, for a total value of $746,029.71. Following the transaction, the director now directly owns 1,021,663 shares in the company, valued at approximately $25,837,857.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Julie A. Scott sold 209,831 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $25.29, for a total value of $5,306,625.99. Following the completion of the transaction, the insider now directly owns 879,869 shares in the company, valued at approximately $22,251,887.01. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On First Interstate BancSystem

Several hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC grew its holdings in First Interstate BancSystem by 132.8% during the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 530 shares during the period. Wolverine Asset Management LLC acquired a new stake in shares of First Interstate BancSystem in the fourth quarter valued at approximately $39,000. Parallel Advisors LLC raised its position in shares of First Interstate BancSystem by 205.3% in the fourth quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock valued at $39,000 after buying an additional 856 shares in the last quarter. CWM LLC raised its position in shares of First Interstate BancSystem by 42.1% in the fourth quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock valued at $73,000 after buying an additional 702 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in First Interstate BancSystem by 28.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,378 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 744 shares in the last quarter. Institutional investors own 88.71% of the company’s stock.

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.