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

First Interstate BancSystem (NASDAQ:FIBK) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

Other equities analysts have also recently issued research reports about the stock. DA Davidson raised shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $32.00 to $42.00 in a research note on Tuesday, November 26th. Stephens restated an “overweight” rating and set a $36.00 price target on shares of First Interstate BancSystem in a research report on Thursday, October 10th. Keefe, Bruyette & Woods increased their price objective on First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Barclays lifted their price objective on First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a research note on Thursday, December 5th. Finally, UBS Group began coverage on First Interstate BancSystem in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 target price on the stock. Three investment 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. According to MarketBeat, First Interstate BancSystem currently has a consensus rating of “Hold” and an average price target of $35.14.

First Interstate BancSystem Price Performance

First Interstate BancSystem stock opened at $32.53 on Tuesday. The firm has a market capitalization of $3.40 billion, a P/E ratio of 14.27 and a beta of 0.84. First Interstate BancSystem has a one year low of $24.16 and a one year high of $36.77. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The business has a fifty day moving average price of $33.12 and a 200-day moving average price of $30.57.

First Interstate BancSystem (NASDAQ:FIBK) last issued its 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 period in the prior year, the company posted $0.70 earnings per share. As a group, equities research analysts forecast that First Interstate BancSystem will post 2.28 EPS for the current year.

Insider Activity

In related news, major shareholder James R. Scott, Jr. sold 6,067 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $34.50, for a total transaction of $209,311.50. Following the completion of the sale, the insider now directly owns 75,387 shares in the company, valued at $2,600,851.50. This represents a 7.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Julie A. Scott sold 22,050 shares of the firm’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 transaction, the insider now owns 613,019 shares in the company, valued at approximately $20,720,042.20. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,837 shares of company stock valued at $1,839,583. Corporate insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On First Interstate BancSystem

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new stake in First Interstate BancSystem in the 3rd quarter worth $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of First Interstate BancSystem during the third quarter worth about $69,000. Innealta Capital LLC bought a new stake in shares of First Interstate BancSystem in the second quarter worth about $106,000. nVerses Capital LLC raised its position in First Interstate BancSystem by 412.5% during the 2nd quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 3,300 shares during the last quarter. Finally, CWM LLC lifted its holdings in First Interstate BancSystem by 65.0% in the 3rd quarter. CWM LLC now owns 5,152 shares of the financial services provider’s stock worth $158,000 after buying an additional 2,029 shares during the period. 88.71% of the stock is currently owned by 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.