First Interstate BancSystem (NASDAQ:FIBK) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded First Interstate BancSystem (FIBK) from "hold" to "sell," and UBS also cut its rating to "sell"; analysts' consensus remains an average "Hold" with a mean price target of $38.00.
• The stock opened at $34.85, has a market capitalization of $3.52 billion and a P/E of 11.8, and trades in a 52‑week range of $24.76–$39.26.
• FIBK reported quarterly EPS of $1.08 (beating estimates by $0.44) while revenue of $205.1M missed consensus despite a 19.8% year-over-year increase, and institutional investors own about 88.71% of the shares.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Other research analysts have also recently issued reports about the company. UBS Group cut First Interstate BancSystem from a "neutral" rating to a "sell" rating and reduced their price target for the company from $38.00 to $35.00 in a research report on Tuesday, April 7th. Keefe, Bruyette & Woods reduced their price target on First Interstate BancSystem from $39.00 to $38.00 and set an "outperform" rating for the company in a research report on Thursday, April 9th. Piper Sandler reduced their price target on First Interstate BancSystem from $44.00 to $41.00 and set an "overweight" rating for the company in a research report on Thursday, April 2nd. Wells Fargo & Company lifted their price target on First Interstate BancSystem from $30.00 to $36.00 and gave the company an "underweight" rating in a research report on Monday, March 30th. Finally, DA Davidson reiterated a "buy" rating and set a $42.00 price target on shares of First Interstate BancSystem in a research report on Thursday, January 29th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $38.00.

First Interstate BancSystem Trading Down 0.0%

First Interstate BancSystem stock opened at $34.85 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.09. First Interstate BancSystem has a 52 week low of $24.76 and a 52 week high of $39.26. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 11.81 and a beta of 0.77. The stock has a 50-day moving average price of $34.37 and a 200 day moving average price of $34.30.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released its earnings results on Wednesday, January 28th. The financial services provider reported $1.08 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.44. First Interstate BancSystem had a return on equity of 8.83% and a net margin of 21.40%.The firm had revenue of $205.10 million during the quarter, compared to the consensus estimate of $256.89 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company's revenue was up 19.8% compared to the same quarter last year. Sell-side analysts anticipate that First Interstate BancSystem will post 2.71 EPS for the current year.

Institutional Trading of First Interstate BancSystem

A number of institutional investors and hedge funds have recently made changes to their positions in FIBK. Dimensional Fund Advisors LP increased its position in shares of First Interstate BancSystem by 1.5% during the third quarter. Dimensional Fund Advisors LP now owns 5,495,403 shares of the financial services provider's stock worth $175,140,000 after purchasing an additional 78,835 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in First Interstate BancSystem during the third quarter worth $2,115,000. HoldCo Asset Management LP boosted its stake in First Interstate BancSystem by 10.6% during the third quarter. HoldCo Asset Management LP now owns 3,950,107 shares of the financial services provider's stock worth $125,890,000 after buying an additional 380,000 shares during the last quarter. Cambria Investment Management L.P. acquired a new position in First Interstate BancSystem during the third quarter worth $9,083,000. Finally, Vestmark Advisory Solutions Inc. acquired a new position in First Interstate BancSystem during the third quarter worth $895,000. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.

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