First Interstate BancSystem (NASDAQ:FIBK) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded First Interstate BancSystem (FIBK) from a "sell" to a "hold"; analysts are mixed overall (3 Buy, 3 Hold, 2 Sell) with an average rating of Hold and an average price target of $37.33.
• FIBK beat quarterly EPS estimates ($0.61 vs. $0.60), reported a 9.13% return on equity and a 28.19% net margin, and the stock trades around $35.45 with a market cap of $3.58 billion and a P/E of 11.55.
• Institutional investors own about 88.71% of the shares, with several funds making modest recent adjustments to their positions.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Sunday.

FIBK has been the topic of several other reports. UBS Group lifted their target price on First Interstate BancSystem from $30.00 to $33.00 and gave the company a "sell" rating in a research report on Friday. Piper Sandler lowered their target price on First Interstate BancSystem from $44.00 to $41.00 and set an "overweight" rating on the stock in a research report on Thursday, April 2nd. Weiss Ratings upgraded First Interstate BancSystem from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, April 2nd. Stephens downgraded First Interstate BancSystem from an "overweight" rating to an "equal weight" rating in a research report on Thursday, February 5th. Finally, DA Davidson lifted their target price on First Interstate BancSystem from $39.00 to $41.00 and gave the company a "buy" rating in a research report on Friday. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $37.33.

First Interstate BancSystem Stock Performance

Shares of FIBK opened at $35.45 on Friday. The stock's fifty day moving average price is $34.19 and its two-hundred day moving average price is $34.43. The firm has a market cap of $3.58 billion, a PE ratio of 11.55 and a beta of 0.77. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.71 and a quick ratio of 0.72. First Interstate BancSystem has a 1 year low of $25.81 and a 1 year high of $39.26.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. The business had revenue of $41.10 million during the quarter, compared to analyst estimates of $242.78 million. First Interstate BancSystem had a return on equity of 9.13% and a net margin of 28.19%.During the same quarter in the prior year, the company posted $0.49 EPS. On average, equities research analysts forecast that First Interstate BancSystem will post 2.69 EPS for the current year.

Institutional Investors Weigh In On First Interstate BancSystem

Large investors have recently added to or reduced their stakes in the stock. Northern Capital Management Inc. boosted its position in shares of First Interstate BancSystem by 0.5% during the fourth quarter. Northern Capital Management Inc. now owns 52,100 shares of the financial services provider's stock valued at $1,803,000 after buying an additional 275 shares during the period. HighTower Advisors LLC boosted its position in shares of First Interstate BancSystem by 2.7% during the fourth quarter. HighTower Advisors LLC now owns 14,177 shares of the financial services provider's stock valued at $491,000 after buying an additional 375 shares during the period. Alliancebernstein L.P. boosted its position in shares of First Interstate BancSystem by 0.4% during the third quarter. Alliancebernstein L.P. now owns 108,600 shares of the financial services provider's stock valued at $3,461,000 after buying an additional 397 shares during the period. First Horizon Corp boosted its position in shares of First Interstate BancSystem by 56.0% during the fourth quarter. First Horizon Corp now owns 1,268 shares of the financial services provider's stock valued at $44,000 after buying an additional 455 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of First Interstate BancSystem by 49.6% during the fourth quarter. GAMMA Investing LLC now owns 1,556 shares of the financial services provider's stock valued at $54,000 after buying an additional 516 shares during the period. 88.71% of the stock is owned by institutional investors.

About First Interstate BancSystem

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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