First Interstate BancSystem (NASDAQ:FIBK) Stock Rating Lowered by StockNews.com

First Interstate BancSystem (NASDAQ:FIBK) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

Several other brokerages also recently issued reports on FIBK. Wells Fargo & Company downgraded shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $30.00 to $28.00 in a research note on Tuesday, October 1st. Stephens restated an “overweight” rating and set a $36.00 price objective on shares of First Interstate BancSystem in a research report on Thursday, October 10th. DA Davidson increased their price objective on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods increased their price objective on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Finally, Barclays downgraded shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $32.00 to $30.00 in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $32.50.

First Interstate BancSystem Price Performance

FIBK stock opened at $33.42 on Wednesday. The firm’s 50-day moving average price is $31.16 and its two-hundred day moving average price is $29.36. First Interstate BancSystem has a 12-month low of $24.16 and a 12-month high of $34.53. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 14.66 and a beta of 0.81. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same quarter in the previous year, the firm posted $0.70 earnings per share. As a group, equities analysts predict that First Interstate BancSystem will post 2.28 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Jonathan R. Scott sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total transaction of $222,170.00. Following the sale, the director now directly owns 958,710 shares of the company’s stock, valued at $32,768,707.80. This represents a 0.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Julie A. Scott sold 22,050 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $33.80, for a total value of $745,290.00. Following the sale, the insider now directly owns 613,019 shares in the company, valued at $20,720,042.20. This trade represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,320 shares of company stock valued at $1,647,096. Corporate insiders own 6.90% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. raised its holdings in First Interstate BancSystem by 28.5% during the 1st quarter. Russell Investments Group Ltd. now owns 44,410 shares of the financial services provider’s stock valued at $1,209,000 after buying an additional 9,860 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in First Interstate BancSystem by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,919 shares of the financial services provider’s stock valued at $1,413,000 after buying an additional 2,940 shares during the period. Bayesian Capital Management LP bought a new position in First Interstate BancSystem in the 1st quarter valued at $286,000. CWM LLC grew its position in 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. Finally, SG Americas Securities LLC grew its position in First Interstate BancSystem by 79.5% in the 2nd quarter. SG Americas Securities LLC now owns 18,021 shares of the financial services provider’s stock valued at $500,000 after acquiring an additional 7,979 shares during the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

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.