Barclays Has Lowered Expectations for First Interstate BancSystem (NASDAQ:FIBK) Stock Price

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) had its price target dropped by equities researchers at Barclays from $31.00 to $28.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an "underweight" rating on the financial services provider's stock. Barclays's target price would indicate a potential upside of 15.08% from the stock's previous close.

A number of other analysts also recently commented on FIBK. StockNews.com upgraded First Interstate BancSystem from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. Piper Sandler dropped their price objective on shares of First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company boosted their target price on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the company an "underweight" rating in a research note on Monday, February 3rd. Stephens dropped their price target on shares of First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Finally, UBS Group initiated coverage on shares of First Interstate BancSystem in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $35.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $35.00.

First Interstate BancSystem Stock Down 0.8 %

Shares of FIBK stock traded down $0.19 during trading hours on Tuesday, reaching $24.33. 854,323 shares of the company's stock were exchanged, compared to its average volume of 630,958. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem has a 1 year low of $22.95 and a 1 year high of $36.77. The stock has a market cap of $2.54 billion, a PE ratio of 11.11 and a beta of 0.81. The stock's fifty day moving average price is $29.25 and its two-hundred day moving average price is $31.32.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last released its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. Research analysts predict that First Interstate BancSystem will post 2.53 EPS for the current year.

Insider Activity at First Interstate BancSystem

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $32.56, for a total value of $43,467.60. Following the completion of the sale, the director now directly owns 1,414,886 shares in the company, valued at $46,068,688.16. This represents a 0.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On First Interstate BancSystem

Several institutional investors and hedge funds have recently bought and sold shares of FIBK. Wood Tarver Financial Group LLC purchased a new stake in First Interstate BancSystem in the fourth quarter valued at $26,000. Point72 DIFC Ltd purchased a new stake in shares of First Interstate BancSystem during the third quarter worth $34,000. Meeder Asset Management Inc. acquired a new stake in First Interstate BancSystem in the 4th quarter valued at about $69,000. Covestor Ltd raised its holdings in First Interstate BancSystem by 25.8% in the fourth quarter. Covestor Ltd now owns 2,485 shares of the financial services provider's stock valued at $81,000 after acquiring an additional 510 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position in shares of First Interstate BancSystem by 826.3% during the 4th quarter. Sterling Capital Management LLC now owns 2,501 shares of the financial services provider's stock worth $81,000 after purchasing an additional 2,231 shares during the last quarter. 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.