First Interstate BancSystem (NASDAQ:FIBK) Cut to “Sell” at StockNews.com

First Interstate BancSystem (NASDAQ:FIBK) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Several other research analysts have also commented on the company. Barclays raised their price target on First Interstate BancSystem from $29.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Stephens lifted their target price on First Interstate BancSystem from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Wells Fargo & Company increased their price target on shares of First Interstate BancSystem from $25.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Piper Sandler reissued an “overweight” rating and issued a $38.00 price objective on shares of First Interstate BancSystem in a research note on Monday, August 26th. Finally, Keefe, Bruyette & Woods upped their target price on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, First Interstate BancSystem presently has an average rating of “Hold” and an average target price of $33.33.

First Interstate BancSystem Stock Up 3.5 %

Shares of FIBK opened at $32.01 on Friday. The company’s 50-day moving average price is $30.10 and its 200 day moving average price is $27.81. First Interstate BancSystem has a 12-month low of $20.81 and a 12-month high of $33.00. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.92. The firm has a market cap of $3.35 billion, a P/E ratio of 12.75 and a beta of 0.82.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The business had revenue of $244.30 million for the quarter, compared to the consensus estimate of $246.07 million. First Interstate BancSystem had a net margin of 17.22% and a return on equity of 8.19%. During the same period in the previous year, the firm earned $0.66 EPS. On average, sell-side analysts forecast that First Interstate BancSystem will post 2.34 earnings per share for the current year.

Institutional Investors Weigh In On First Interstate BancSystem

A number of hedge funds and other institutional investors have recently modified their holdings of FIBK. Parallel Advisors LLC grew its stake in shares of First Interstate BancSystem by 205.3% during the fourth quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 856 shares in the last quarter. CWM LLC increased its holdings in shares of First Interstate BancSystem by 16.0% in the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 430 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of First Interstate BancSystem by 28.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,378 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 744 shares during the last quarter. Innealta Capital LLC purchased a new stake in First Interstate BancSystem during the second quarter worth approximately $106,000. Finally, nVerses Capital LLC lifted its stake in First Interstate BancSystem by 412.5% during the second quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 3,300 shares during the last quarter. 88.71% of the stock is currently owned by institutional investors and hedge funds.

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.