First Interstate BancSystem (NASDAQ:FIBK) Earns “Neutral” Rating from DA Davidson

First Interstate BancSystem (NASDAQ:FIBK)‘s stock had its “neutral” rating reaffirmed by equities research analysts at DA Davidson in a note issued to investors on Monday,Benzinga reports. They currently have a $39.00 price objective on the financial services provider’s stock. DA Davidson’s price target would indicate a potential upside of 1.24% from the stock’s current price.

Several other research firms also recently issued reports on FIBK. Barclays upped their price objective on First Interstate BancSystem from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 7th. Wall Street Zen raised shares of First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a report on Monday, June 22nd. UBS Group raised their price target on shares of First Interstate BancSystem from $30.00 to $33.00 and gave the company a “sell” rating in a research note on Friday, May 1st. Weiss Ratings upgraded shares of First Interstate BancSystem from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $37.00 price objective (down from $38.00) on shares of First Interstate BancSystem in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $37.33.

First Interstate BancSystem Price Performance

NASDAQ:FIBK traded up $0.40 during trading hours on Monday, reaching $38.52. 283,793 shares of the company were exchanged, compared to its average volume of 1,167,814. First Interstate BancSystem has a 1-year low of $27.60 and a 1-year high of $40.60. The business has a 50 day moving average of $37.17 and a 200 day moving average of $36.02. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $3.74 billion, a P/E ratio of 11.85 and a beta of 0.76.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.19. First Interstate BancSystem had a return on equity of 9.55% and a net margin of 29.44%.The firm had revenue of $99.10 million for the quarter, compared to the consensus estimate of $249.32 million. Research analysts forecast that First Interstate BancSystem will post 2.66 EPS for the current year.

Insider Transactions at First Interstate BancSystem

In related news, major shareholder Jonathan R. Scott sold 12,892 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $35.58, for a total transaction of $458,697.36. Following the sale, the insider owned 866,628 shares in the company, valued at $30,834,624.24. This represents a 1.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Julie A. Scott sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $35.97, for a total value of $539,550.00. Following the sale, the insider directly owned 488,359 shares of the company’s stock, valued at $17,566,273.23. This represents a 2.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 32,392 shares of company stock worth $1,161,552 over the last three months. 8.00% of the stock is owned by company insiders.

Institutional Trading of First Interstate BancSystem

Large investors have recently added to or reduced their stakes in the stock. Eurizon Capital SGR S.p.A. bought a new stake in First Interstate BancSystem in the fourth quarter worth about $25,000. Kestra Advisory Services LLC purchased a new position in shares of First Interstate BancSystem in the 4th quarter worth about $29,000. EverSource Wealth Advisors LLC boosted its holdings in shares of First Interstate BancSystem by 139.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 862 shares in the last quarter. First Horizon Corp increased its position in shares of First Interstate BancSystem by 56.0% during the 4th quarter. First Horizon Corp now owns 1,268 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 455 shares during the last quarter. Finally, CIBC Private Wealth Group LLC bought a new position in shares of First Interstate BancSystem during the 3rd quarter valued at about $52,000. 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.