First Interstate BancSystem (NASDAQ:FIBK) Upgraded to Sell at Wall Street Zen

First Interstate BancSystem (NASDAQ:FIBK) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a note issued to investors on Saturday.

FIBK has been the topic of a number of other reports. Piper Sandler dropped their price objective on shares of First Interstate BancSystem from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Weiss Ratings upgraded shares of First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 15th. UBS Group lifted their target price on shares of First Interstate BancSystem from $30.00 to $33.00 and gave the company a “sell” rating in a report on Friday, May 1st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $37.00 target price (down from $38.00) on shares of First Interstate BancSystem in a report on Friday, May 1st. Finally, DA Davidson downgraded shares of First Interstate BancSystem from a “buy” rating to a “neutral” rating and lowered their target price for the company from $41.00 to $39.00 in a report on Wednesday, May 27th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $37.00.

First Interstate BancSystem Trading Down 0.4%

NASDAQ FIBK opened at $35.57 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $3.46 billion, a PE ratio of 11.59 and a beta of 0.76. First Interstate BancSystem has a one year low of $25.81 and a one year high of $39.26. The firm’s fifty day moving average is $34.67 and its two-hundred day moving average is $35.04.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The company had revenue of $5.10 million for the quarter, compared to analyst estimates of $242.78 million. First Interstate BancSystem had a net margin of 22.64% and a return on equity of 9.13%. During the same period in the previous year, the business posted $0.49 earnings per share. Analysts expect that First Interstate BancSystem will post 2.66 earnings per share for the current year.

Insider Buying and Selling at First Interstate BancSystem

In other news, major shareholder Jonathan R. Scott sold 12,892 shares of First Interstate BancSystem stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $35.58, for a total value of $458,697.36. Following the sale, the insider owned 866,628 shares of the company’s stock, valued at $30,834,624.24. The trade was a 1.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.00% of the stock is currently owned by insiders.

Institutional Trading of First Interstate BancSystem

A number of institutional investors have recently added to or reduced their stakes in the stock. Northern Capital Management Inc. boosted its holdings in First Interstate BancSystem by 0.5% during the fourth quarter. Northern Capital Management Inc. now owns 52,100 shares of the financial services provider’s stock worth $1,803,000 after buying an additional 275 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in First Interstate BancSystem by 17.7% during the first quarter. EverSource Wealth Advisors LLC now owns 2,099 shares of the financial services provider’s stock worth $70,000 after buying an additional 315 shares in the last quarter. HighTower Advisors LLC boosted its holdings in First Interstate BancSystem by 2.7% during the fourth quarter. HighTower Advisors LLC now owns 14,177 shares of the financial services provider’s stock worth $491,000 after buying an additional 375 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in First Interstate BancSystem by 0.4% during the third quarter. Alliancebernstein L.P. now owns 108,600 shares of the financial services provider’s stock worth $3,461,000 after buying an additional 397 shares in the last quarter. Finally, First Horizon Corp boosted its holdings 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. Hedge funds and other institutional investors own 88.71% of the company’s stock.

About First Interstate BancSystem

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.