First Interstate BancSystem (NASDAQ:FIBK) Raised to “Hold” at StockNews.com

First Interstate BancSystem (NASDAQ:FIBK) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

Several other research firms have also recently commented on FIBK. UBS Group started coverage on First Interstate BancSystem in a research note on Tuesday, December 17th. They set a “neutral” rating and a $35.00 target price for the company. Piper Sandler reduced their price objective on shares of First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Barclays boosted their target price on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research report on Thursday, December 5th. Wells Fargo & Company raised their price target on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Two equities research 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, the company currently has an average rating of “Hold” and an average price target of $36.14.

First Interstate BancSystem Trading Down 0.3 %

Shares of NASDAQ:FIBK traded down $0.10 during trading on Monday, reaching $30.60. The stock had a trading volume of 765,963 shares, compared to its average volume of 580,564. First Interstate BancSystem has a 52 week low of $24.16 and a 52 week high of $36.77. 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 firm’s fifty day moving average is $32.19 and its 200 day moving average is $31.91. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 13.97 and a beta of 0.85.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. As a group, equities analysts forecast that First Interstate BancSystem will post 2.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $32.56, for a total transaction of $43,467.60. Following the completion of the sale, the director now directly owns 1,414,886 shares of the company’s stock, valued at $46,068,688.16. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On First Interstate BancSystem

Several large investors have recently added to or reduced their stakes in the business. GTS Securities LLC purchased a new stake in shares of First Interstate BancSystem in the fourth quarter worth approximately $203,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in First Interstate BancSystem by 2.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,294 shares of the financial services provider’s stock valued at $8,549,000 after buying an additional 7,328 shares during the last quarter. WBI Investments LLC raised its position in First Interstate BancSystem by 39.0% in the 4th quarter. WBI Investments LLC now owns 11,645 shares of the financial services provider’s stock valued at $378,000 after buying an additional 3,269 shares during the last quarter. Two Sigma Advisers LP lifted its stake in First Interstate BancSystem by 13.6% during the 4th quarter. Two Sigma Advisers LP now owns 32,548 shares of the financial services provider’s stock valued at $1,057,000 after acquiring an additional 3,900 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new position in First Interstate BancSystem during the 4th quarter worth $360,000. 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.