First Interstate BancSystem (NASDAQ:FIBK) Upgraded at Keefe, Bruyette & Woods

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) was upgraded by analysts at Keefe, Bruyette & Woods from a "hold" rating to a "moderate buy" rating in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm presently has a $32.00 price objective on the financial services provider's stock. Keefe, Bruyette & Woods' target price points to a potential upside of 10.31% from the stock's previous close.

FIBK has been the subject of several other reports. Barclays cut their price objective on First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company dropped 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. Finally, Wall Street Zen upgraded shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a report on Saturday, May 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $34.43.

First Interstate BancSystem Price Performance

NASDAQ FIBK traded up $0.86 during mid-day trading on Monday, hitting $29.01. The stock had a trading volume of 1,054,401 shares, compared to its average volume of 705,603. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.37. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 13.75 and a beta of 0.79. First Interstate BancSystem has a 52-week low of $22.95 and a 52-week high of $36.77. The company has a 50 day simple moving average of $27.13 and a 200 day simple moving average of $29.42.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). First Interstate BancSystem had a net margin of 14.93% and a return on equity of 6.57%. The business had revenue of $42.00 million for the quarter, compared to analysts' expectations of $253.50 million. During the same quarter last year, the business posted $0.57 earnings per share. The business's revenue was up 2.0% compared to the same quarter last year. Equities analysts forecast that First Interstate BancSystem will post 2.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC purchased a new stake in First Interstate BancSystem during the fourth quarter worth approximately $26,000. JNBA Financial Advisors acquired a new stake in shares of First Interstate BancSystem during the first quarter worth $29,000. Quarry LP boosted its position in First Interstate BancSystem by 63.8% during the 1st quarter. Quarry LP now owns 1,155 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 450 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of First Interstate BancSystem in the fourth quarter valued at approximately $69,000. Finally, Covestor Ltd raised its stake in shares of First Interstate BancSystem by 25.8% during the fourth quarter. Covestor Ltd now owns 2,485 shares of the financial services provider's stock valued at $81,000 after purchasing an additional 510 shares in the last quarter. Institutional investors and hedge funds 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.