First Interstate BancSystem (NASDAQ:FIBK) PT Raised to $24.00

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) had its price target hoisted by investment analysts at Wells Fargo & Company from $23.00 to $24.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's price target would suggest a potential downside of 3.88% from the stock's previous close.

Several other brokerages have also recently issued reports on FIBK. Barclays initiated coverage on First Interstate BancSystem in a research note on Friday, March 8th. They issued an "equal weight" rating and a $28.00 price objective on the stock. TheStreet cut First Interstate BancSystem from a "b-" rating to a "c+" rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $29.00.

First Interstate BancSystem Trading Down 7.5 %

Shares of FIBK traded down $2.03 during mid-day trading on Wednesday, reaching $24.97. 986,380 shares of the company's stock traded hands, compared to its average volume of 858,455. The stock has a market cap of $2.60 billion, a P/E ratio of 10.07 and a beta of 0.87. The stock's 50-day moving average is $26.24 and its two-hundred day moving average is $26.62. First Interstate BancSystem has a 12 month low of $20.81 and a 12 month high of $32.54. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.77 and a quick ratio of 0.76.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released its earnings results on Tuesday, January 30th. The financial services provider reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.04. The firm had revenue of $252.30 million for the quarter, compared to analysts' expectations of $254.50 million. First Interstate BancSystem had a return on equity of 8.47% and a net margin of 18.04%. Research analysts forecast that First Interstate BancSystem will post 2.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Interstate BancSystem news, EVP Karlyn M. Knieriem sold 2,900 shares of the company's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $26.76, for a total transaction of $77,604.00. Following the completion of the sale, the executive vice president now owns 20,599 shares in the company, valued at $551,229.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other First Interstate BancSystem news, EVP Karlyn M. Knieriem sold 2,900 shares of the company's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $26.76, for a total transaction of $77,604.00. Following the completion of the sale, the executive vice president now owns 20,599 shares in the company, valued at $551,229.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Lorrie F. Asker sold 1,921 shares of the company's stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $26.05, for a total value of $50,042.05. Following the sale, the insider now owns 6,909 shares of the company's stock, valued at approximately $179,979.45. The disclosure for this sale can be found here. Insiders sold a total of 7,531 shares of company stock worth $197,645 over the last 90 days. Company insiders own 6.80% of the company's stock.

Institutional Trading of First Interstate BancSystem

Hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC lifted its holdings in First Interstate BancSystem by 132.8% during the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider's stock worth $26,000 after buying an additional 530 shares during the period. Wolverine Asset Management LLC purchased a new stake in shares of First Interstate BancSystem during the 4th quarter valued at $39,000. Parallel Advisors LLC lifted its holdings in shares of First Interstate BancSystem by 205.3% during the 4th quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 856 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of First Interstate BancSystem by 263.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,081 shares of the financial services provider's stock valued at $77,000 after purchasing an additional 1,508 shares during the last quarter. Finally, Clear Street Markets LLC purchased a new stake in shares of First Interstate BancSystem during the 4th quarter valued at $71,000. Hedge funds and other institutional investors 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.