First Interstate BancSystem (NASDAQ:FIBK) Raised to “Hold” at StockNews.com

First Interstate BancSystem (NASDAQ:FIBK) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

Several other research analysts have also weighed in on FIBK. Piper Sandler lowered their price objective on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. DA Davidson upgraded shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $32.00 to $42.00 in a research note on Tuesday. Stephens restated an “overweight” rating and set a $36.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Barclays lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $32.00 to $30.00 in a research note on Thursday, October 31st. Finally, Wells Fargo & Company lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $30.00 to $28.00 in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three 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 price target of $33.83.

First Interstate BancSystem Trading Down 0.2 %

Shares of NASDAQ:FIBK opened at $35.35 on Thursday. The company’s 50-day moving average price is $31.79 and its two-hundred day moving average price is $29.68. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. First Interstate BancSystem has a one year low of $24.16 and a one year high of $36.77. The stock has a market capitalization of $3.70 billion, a PE ratio of 15.50 and a beta of 0.81.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate 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 prior year, the firm earned $0.70 EPS. On average, equities analysts forecast that First Interstate BancSystem will post 2.28 EPS for the current fiscal year.

Insiders Place Their Bets

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 shares were sold at an average price of $34.18, for a total transaction of $222,170.00. Following the completion of the sale, the director now owns 958,710 shares of the company’s stock, valued at approximately $32,768,707.80. This represents a 0.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Julie A. Scott sold 20,220 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $32.78, for a total transaction of $662,811.60. Following the sale, the insider now directly owns 635,069 shares of the company’s stock, valued at approximately $20,817,561.82. This trade represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,837 shares of company stock worth $1,839,583 in the last quarter. Corporate insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On First Interstate BancSystem

Several institutional investors and hedge funds have recently added to or reduced their stakes in FIBK. Point72 DIFC Ltd bought a new position in First Interstate BancSystem in the 3rd quarter valued at approximately $34,000. Point72 Asia Singapore Pte. Ltd. bought a new position in First Interstate BancSystem in the 3rd quarter valued at approximately $69,000. CWM LLC lifted its stake 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 purchasing an additional 430 shares during the last quarter. Innealta Capital LLC bought a new position in First Interstate BancSystem in the 2nd quarter valued at approximately $106,000. Finally, nVerses Capital LLC increased its position in First Interstate BancSystem by 412.5% in the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 3,300 shares during the period. 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.