First Interstate BancSystem (NASDAQ:FIBK) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

First Interstate BancSystem (NASDAQ:FIBK) had its price objective raised by Wells Fargo & Company from $29.00 to $30.00 in a report released on Monday,Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 7.52% from the company’s current price.

A number of other analysts have also commented on the stock. DA Davidson reaffirmed a “buy” rating and set a $42.00 target price on shares of First Interstate BancSystem in a report on Thursday, January 30th. Piper Sandler dropped their price objective on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Barclays increased their target price 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. StockNews.com cut First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Tuesday, December 24th. Finally, Stephens reduced their price objective on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $36.14.

First Interstate BancSystem Trading Up 2.2 %

Shares of FIBK opened at $32.44 on Monday. The stock’s fifty day simple moving average is $32.97 and its 200-day simple moving average is $31.62. The firm has a market capitalization of $3.39 billion, a PE ratio of 14.81 and a beta of 0.85. First Interstate BancSystem has a 12-month low of $24.16 and a 12-month high of $36.77. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. As a group, research analysts predict that First Interstate BancSystem will post 2.54 earnings per share for the current year.

Insider Activity

In related news, Director Jonathan R. Scott sold 6,500 shares of First Interstate BancSystem stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total value of $222,170.00. Following the sale, the director now owns 958,710 shares of the company’s stock, valued at approximately $32,768,707.80. This trade represents a 0.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $34.50, for a total value of $209,311.50. Following the transaction, the insider now directly owns 75,387 shares of the company’s stock, valued at approximately $2,600,851.50. This trade represents a 7.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,837 shares of company stock worth $1,839,583 over the last quarter. 6.90% of the stock is currently owned by company insiders.

Institutional Trading of First Interstate BancSystem

A number of institutional investors have recently made changes to their positions in the business. Point72 DIFC Ltd bought a new position in First Interstate BancSystem in the third quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of First Interstate BancSystem during the 3rd quarter worth about $69,000. KBC Group NV increased its position in shares of First Interstate BancSystem by 34.1% in the fourth quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 1,022 shares during the last quarter. CWM LLC raised its holdings in First Interstate BancSystem by 65.0% during the third quarter. CWM LLC now owns 5,152 shares of the financial services provider’s stock worth $158,000 after acquiring an additional 2,029 shares in the last quarter. Finally, Telos Capital Management Inc. bought a new stake in First Interstate BancSystem during the third quarter worth about $201,000. 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.