First Interstate BancSystem (NASDAQ:FIBK) Now Covered by Analysts at UBS Group

Equities research analysts at UBS Group initiated coverage on shares of First Interstate BancSystem (NASDAQ:FIBK) in a note issued to investors on Tuesday. The brokerage set a “neutral” rating on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler lowered their target price on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. DA Davidson raised shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and lifted their price target for the company from $32.00 to $42.00 in a report on Tuesday, November 26th. Keefe, Bruyette & Woods boosted their target price on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Finally, Wells Fargo & Company increased their price target on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, First Interstate BancSystem presently has a consensus rating of “Hold” and a consensus target price of $35.17.

First Interstate BancSystem Stock Performance

FIBK stock traded down $0.55 during trading on Tuesday, hitting $33.79. The company had a trading volume of 71,199 shares, compared to its average volume of 670,643. The firm has a 50-day moving average price of $32.88 and a 200-day moving average price of $30.35. The firm has a market cap of $3.53 billion, a PE ratio of 14.86 and a beta of 0.84. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem has a 1-year low of $24.16 and a 1-year high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same quarter last year, the business posted $0.70 earnings per share. On average, analysts expect that First Interstate BancSystem will post 2.28 earnings per share for the current year.

Insider Activity

In other First Interstate BancSystem news, major shareholder James R. Scott, Jr. sold 6,067 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were 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 directly owns 75,387 shares in the company, valued at approximately $2,600,851.50. This represents a 7.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan R. Scott sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total transaction of $222,170.00. Following the completion of the transaction, the director now directly owns 958,710 shares in the company, valued at approximately $32,768,707.80. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,837 shares of company stock valued at $1,839,583. Insiders own 6.90% of the company’s stock.

Institutional Trading of First Interstate BancSystem

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in First Interstate BancSystem by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,992,873 shares of the financial services provider’s stock valued at $61,152,000 after acquiring an additional 59,367 shares in the last quarter. Barclays PLC raised its holdings in shares of First Interstate BancSystem by 18.6% in the 3rd quarter. Barclays PLC now owns 206,213 shares of the financial services provider’s stock worth $6,326,000 after purchasing an additional 32,298 shares during the period. Jane Street Group LLC grew its position in shares of First Interstate BancSystem by 13.9% in the 3rd quarter. Jane Street Group LLC now owns 188,084 shares of the financial services provider’s stock worth $5,770,000 after acquiring an additional 22,899 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of First Interstate BancSystem by 6.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,288,214 shares of the financial services provider’s stock worth $39,522,000 after purchasing an additional 78,596 shares during the last quarter. Finally, Systematic Financial Management LP bought a new stake in shares of First Interstate BancSystem in the 3rd quarter worth $840,000. 88.71% of the stock is owned by hedge funds and other institutional investors.

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.