First Interstate BancSystem (NASDAQ:FIBK) Stock Rating Lowered by Wall Street Zen

First Interstate BancSystem (NASDAQ:FIBK) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

Several other equities analysts have also weighed in on FIBK. Piper Sandler raised their target price on First Interstate BancSystem from $41.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods increased their price objective on First Interstate BancSystem from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, December 17th. Barclays reduced their target price on First Interstate BancSystem from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Friday, January 30th. UBS Group reaffirmed a “neutral” rating and set a $38.00 target price on shares of First Interstate BancSystem in a research report on Wednesday, February 4th. Finally, DA Davidson reissued a “buy” rating and issued a $42.00 price target on shares of First Interstate BancSystem in a research report on Thursday, January 29th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $38.17.

First Interstate BancSystem Price Performance

NASDAQ FIBK opened at $37.66 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $3.87 billion, a PE ratio of 12.77 and a beta of 0.80. The company has a 50 day moving average price of $36.46 and a two-hundred day moving average price of $33.30. First Interstate BancSystem has a 12-month low of $22.95 and a 12-month high of $39.26.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $1.08 EPS for the quarter, topping the consensus estimate of $0.64 by $0.44. First Interstate BancSystem had a net margin of 17.62% and a return on equity of 8.83%. The company had revenue of $205.10 million for the quarter, compared to analyst estimates of $256.89 million. During the same quarter in the prior year, the business posted $0.50 EPS. First Interstate BancSystem’s quarterly revenue was up 19.8% on a year-over-year basis. As a group, equities analysts predict that First Interstate BancSystem will post 2.53 earnings per share for the current fiscal year.

Insider Activity at First Interstate BancSystem

In other news, major shareholder Jonathan R. Scott sold 3,173 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $36.20, for a total transaction of $114,862.60. Following the completion of the transaction, the insider owned 937,851 shares of the company’s stock, valued at approximately $33,950,206.20. This represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John M. Heyneman, Jr. sold 30,432 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $31.03, for a total transaction of $944,304.96. Following the completion of the sale, the director owned 1,414,636 shares of the company’s stock, valued at approximately $43,896,155.08. The trade was a 2.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 45,432 shares of company stock worth $1,454,120 in the last ninety days. 8.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Interstate BancSystem

Several large investors have recently added to or reduced their stakes in FIBK. Northern Capital Management Inc. grew its holdings in shares of First Interstate BancSystem by 0.5% during the 4th quarter. Northern Capital Management Inc. now owns 52,100 shares of the financial services provider’s stock worth $1,803,000 after purchasing an additional 275 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of First Interstate BancSystem by 2.7% in the fourth quarter. HighTower Advisors LLC now owns 14,177 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 375 shares in the last quarter. Alliancebernstein L.P. lifted its position in First Interstate BancSystem by 0.4% in the third quarter. Alliancebernstein L.P. now owns 108,600 shares of the financial services provider’s stock worth $3,461,000 after purchasing an additional 397 shares during the period. First Horizon Corp boosted its stake in First Interstate BancSystem by 56.0% during the fourth quarter. First Horizon Corp now owns 1,268 shares of the financial services provider’s stock worth $44,000 after buying an additional 455 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in First Interstate BancSystem by 49.6% during the fourth quarter. GAMMA Investing LLC now owns 1,556 shares of the financial services provider’s stock worth $54,000 after buying an additional 516 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.