First Interstate BancSystem's (FIBK) Buy Rating Reiterated at DA Davidson

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report)'s stock had its "buy" rating restated by equities researchers at DA Davidson in a note issued to investors on Thursday,Benzinga reports. They currently have a $42.00 target price on the financial services provider's stock. DA Davidson's target price indicates a potential upside of 32.28% from the company's previous close.

A number of other equities analysts have also weighed in on the stock. StockNews.com lowered shares of First Interstate BancSystem from a "hold" rating to a "sell" rating in a research note on Tuesday, December 24th. UBS Group initiated coverage on shares of First Interstate BancSystem in a research report on Tuesday, December 17th. They set a "neutral" rating and a $35.00 price target on the stock. Piper Sandler cut their price target on shares of First Interstate BancSystem from $38.00 to $36.00 and set an "overweight" rating on the stock in a research report on Monday, October 28th. Wells Fargo & Company cut their price target on shares of First Interstate BancSystem from $30.00 to $29.00 and set an "underweight" rating on the stock in a research report on Monday, January 6th. Finally, Barclays boosted their price target on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the stock an "underweight" rating in a research report on Thursday, December 5th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, First Interstate BancSystem has a consensus rating of "Hold" and an average target price of $36.14.

First Interstate BancSystem Stock Down 3.6 %

NASDAQ FIBK traded down $1.20 on Thursday, reaching $31.75. The company had a trading volume of 989,304 shares, compared to its average volume of 632,608. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 14.50 and a beta of 0.85. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. First Interstate BancSystem has a 1-year low of $24.16 and a 1-year high of $36.77. The company's fifty day moving average is $33.10 and its 200-day moving average is $31.61.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. On average, research analysts forecast that First Interstate BancSystem will post 2.54 earnings per share for the current fiscal year.

Insider Activity at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder James R. Scott, Jr. sold 6,067 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $34.50, for a total transaction of $209,311.50. Following the transaction, the insider now owns 75,387 shares in the company, valued at $2,600,851.50. This represents a 7.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Julie A. Scott sold 20,220 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $32.78, for a total transaction of $662,811.60. Following the transaction, the insider now owns 635,069 shares in the company, valued at approximately $20,817,561.82. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,837 shares of company stock worth $1,839,583. Insiders own 6.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FIBK. Point72 DIFC Ltd acquired a new position in shares of First Interstate BancSystem during the 3rd quarter worth approximately $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of First Interstate BancSystem during the 3rd quarter worth approximately $69,000. KBC Group NV boosted its position in shares of First Interstate BancSystem by 34.1% during the 4th quarter. KBC Group NV now owns 4,018 shares of the financial services provider's stock worth $130,000 after acquiring an additional 1,022 shares in the last quarter. CWM LLC boosted its position in shares of First Interstate BancSystem by 65.0% during the 3rd quarter. CWM LLC now owns 5,152 shares of the financial services provider's stock worth $158,000 after acquiring an additional 2,029 shares in the last quarter. Finally, Telos Capital Management Inc. acquired a new stake in shares of First Interstate BancSystem during the 3rd quarter worth approximately $201,000. Institutional investors and hedge funds own 88.71% of the company's stock.

First Interstate BancSystem Company Profile

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.