First Interstate BancSystem (NASDAQ:FIBK) Rating Increased to Hold at StockNews.com

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) was upgraded by investment analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued on Saturday.

FIBK has been the subject of a number of other reports. Barclays reduced their price objective on shares of First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company lowered their price objective on shares of First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 9th. Stephens lowered their price objective on shares of First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. DA Davidson reaffirmed a "buy" rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a research report on Thursday, January 30th. Finally, Piper Sandler lowered their price objective on shares of First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating on the stock in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $35.00.

First Interstate BancSystem Stock Down 0.8%

FIBK traded down $0.24 during midday trading on Friday, hitting $27.60. The company had a trading volume of 140,817 shares, compared to its average volume of 662,002. First Interstate BancSystem has a 52 week low of $22.95 and a 52 week high of $36.77. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 12.57 and a beta of 0.76. The stock's 50 day moving average price is $27.19 and its 200 day moving average price is $30.71.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07). The business had revenue of $42.00 million for the quarter, compared to analyst estimates of $253.50 million. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. The firm's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 earnings per share. On average, research analysts anticipate that First Interstate BancSystem will post 2.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $32.56, for a total transaction of $43,467.60. Following the sale, the director now owns 1,414,886 shares of the company's stock, valued at approximately $46,068,688.16. This represents a 0.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.20% of the stock is currently owned by insiders.

Institutional Trading of First Interstate BancSystem

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Deutsche Bank AG increased its holdings in First Interstate BancSystem by 0.7% during the 1st quarter. Deutsche Bank AG now owns 70,065 shares of the financial services provider's stock worth $2,007,000 after acquiring an additional 455 shares during the period. Evergreen Capital Management LLC increased its holdings in First Interstate BancSystem by 1.9% during the 4th quarter. Evergreen Capital Management LLC now owns 24,580 shares of the financial services provider's stock worth $798,000 after acquiring an additional 468 shares during the period. Covestor Ltd increased its holdings in First Interstate BancSystem by 25.8% during the 4th quarter. Covestor Ltd now owns 2,485 shares of the financial services provider's stock worth $81,000 after acquiring an additional 510 shares during the period. Tower Research Capital LLC TRC increased its holdings in First Interstate BancSystem by 7.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,872 shares of the financial services provider's stock worth $385,000 after acquiring an additional 807 shares during the period. Finally, Wood Tarver Financial Group LLC bought a new stake in First Interstate BancSystem during the 4th quarter worth approximately $26,000. 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.