First Interstate BancSystem (NASDAQ:FIBK) Receives Overweight Rating from Stephens

First Interstate BancSystem (NASDAQ:FIBK)‘s stock had its “overweight” rating restated by equities researchers at Stephens in a note issued to investors on Thursday, Benzinga reports. They presently have a $32.00 target price on the financial services provider’s stock. Stephens’ target price points to a potential upside of 18.52% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on FIBK. Barclays assumed coverage on First Interstate BancSystem in a report on Friday, March 8th. They set an “equal weight” rating and a $28.00 price objective for the company. Wells Fargo & Company boosted their price objective on First Interstate BancSystem from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Finally, TheStreet cut First Interstate BancSystem from a “b-” rating to a “c+” rating in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $29.20.

First Interstate BancSystem Price Performance

Shares of NASDAQ FIBK opened at $27.00 on Thursday. The business’s 50 day moving average price is $26.10 and its two-hundred day moving average price is $26.68. The company has a market cap of $2.81 billion, a PE ratio of 10.76 and a beta of 0.87. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.89. First Interstate BancSystem has a twelve month low of $20.81 and a twelve month high of $32.54.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $252.30 million for the quarter, compared to the consensus estimate of $254.50 million. First Interstate BancSystem had a return on equity of 8.55% and a net margin of 18.04%. On average, analysts predict that First Interstate BancSystem will post 2.17 EPS for the current year.

Insider Transactions at First Interstate BancSystem

In other news, EVP Kristina Robbins sold 2,710 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total transaction of $69,999.30. Following the completion of the transaction, the executive vice president now directly owns 9,047 shares in the company, valued at $233,684.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Kristina Robbins sold 2,710 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total transaction of $69,999.30. Following the completion of the transaction, the executive vice president now directly owns 9,047 shares in the company, valued at $233,684.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Karlyn M. Knieriem sold 2,900 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $26.76, for a total transaction of $77,604.00. Following the transaction, the executive vice president now owns 20,599 shares of the company’s stock, valued at $551,229.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,531 shares of company stock worth $197,645. Corporate insiders own 6.90% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Institutional investors and hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC increased its holdings in First Interstate BancSystem by 132.8% in the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 530 shares during the period. Wolverine Asset Management LLC acquired a new stake in First Interstate BancSystem in the fourth quarter valued at $39,000. Parallel Advisors LLC increased its holdings in First Interstate BancSystem by 205.3% in the fourth quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 856 shares during the period. CWM LLC increased its holdings in First Interstate BancSystem by 42.1% in the fourth quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 702 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in First Interstate BancSystem in the third quarter valued at $81,000. 88.71% of the stock is currently owned by institutional investors and hedge funds.

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.