First Interstate BancSystem, Inc. (NASDAQ:FIBK) Given Consensus Recommendation of “Hold” by Analysts

First Interstate BancSystem, Inc. (NASDAQ:FIBK) has been assigned a consensus recommendation of “Hold” from the six brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $33.17.

A number of research analysts recently issued reports on FIBK shares. Stephens reiterated an “overweight” rating and set a $36.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Piper Sandler reiterated an “overweight” rating and set a $38.00 price objective on shares of First Interstate BancSystem in a research note on Monday, August 26th. Wells Fargo & Company downgraded First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $30.00 to $28.00 in a research note on Tuesday, October 1st. Barclays upped their price target on First Interstate BancSystem from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Finally, DA Davidson upped their price target on First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th.

Institutional Trading of First Interstate BancSystem

Hedge funds have recently modified their holdings of the company. CWM LLC raised its holdings in shares of First Interstate BancSystem by 16.0% during the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 430 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of First Interstate BancSystem by 28.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,378 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 744 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of First Interstate BancSystem during the 2nd quarter worth approximately $106,000. nVerses Capital LLC raised its holdings in shares of First Interstate BancSystem by 412.5% during the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Telos Capital Management Inc. purchased a new stake in shares of First Interstate BancSystem during the 3rd quarter worth approximately $201,000. 88.71% of the stock is owned by hedge funds and other institutional investors.

First Interstate BancSystem Trading Up 1.1 %

Shares of NASDAQ:FIBK opened at $31.96 on Thursday. The stock has a 50 day moving average of $30.36 and a 200 day moving average of $28.55. The company has a market cap of $3.34 billion, a PE ratio of 12.73 and a beta of 0.81. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.92. First Interstate BancSystem has a 12-month low of $20.81 and a 12-month high of $33.00.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The company had revenue of $244.30 million during the quarter, compared to the consensus estimate of $246.07 million. First Interstate BancSystem had a return on equity of 8.19% and a net margin of 17.22%. During the same period in the previous year, the company posted $0.66 EPS. As a group, equities research analysts expect that First Interstate BancSystem will post 2.34 EPS for the current year.

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.