First Interstate BancSystem (NASDAQ:FIBK) Coverage Initiated at UBS Group

Stock analysts at UBS Group initiated coverage on shares of First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage set a "neutral" rating and a $35.00 price target on the financial services provider's stock. UBS Group's price target would indicate a potential upside of 4.10% from the company's current price.

FIBK has been the subject of a number of other research reports. Wells Fargo & Company lifted their price target on First Interstate BancSystem from $28.00 to $30.00 and gave the company an "underweight" rating in a research note on Tuesday, December 3rd. Stephens reaffirmed an "overweight" rating and set a $36.00 target price on shares of First Interstate BancSystem in a research report on Thursday, October 10th. Piper Sandler lowered their price target on First Interstate BancSystem from $38.00 to $36.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. Keefe, Bruyette & Woods raised their price objective on First Interstate BancSystem from $32.00 to $36.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Finally, StockNews.com upgraded shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a research note on Thursday, November 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $35.14.

First Interstate BancSystem Stock Down 2.1 %

Shares of NASDAQ FIBK traded down $0.72 during trading on Tuesday, hitting $33.62. 675,768 shares of the company traded hands, compared to its average volume of 673,186. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 14.75 and a beta of 0.84. The business's fifty day moving average is $32.88 and its 200 day moving average is $30.35. 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 fifty-two week low of $24.16 and a fifty-two week high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same quarter last year, the company posted $0.70 earnings per share. Equities research analysts predict that First Interstate BancSystem will post 2.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Julie A. Scott sold 22,050 shares of the business's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $33.80, for a total value of $745,290.00. Following the sale, the insider now directly owns 613,019 shares in the company, valued at approximately $20,720,042.20. The trade was a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of the stock in a transaction dated Friday, November 22nd. The stock was 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 of the company's stock, valued at $2,600,851.50. This represents a 7.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,837 shares of company stock valued at $1,839,583. 6.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Interstate BancSystem

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in First Interstate BancSystem by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider's stock valued at $127,204,000 after buying an additional 367,212 shares during the last quarter. Jennison Associates LLC boosted its stake in First Interstate BancSystem by 57.3% during the third quarter. Jennison Associates LLC now owns 885,802 shares of the financial services provider's stock valued at $27,176,000 after buying an additional 322,578 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in First Interstate BancSystem during the second quarter valued at $3,003,000. Hotchkis & Wiley Capital Management LLC raised its position in shares of First Interstate BancSystem by 100.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 211,390 shares of the financial services provider's stock valued at $6,485,000 after buying an additional 105,670 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of First Interstate BancSystem by 6.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,288,214 shares of the financial services provider's stock worth $39,522,000 after purchasing an additional 78,596 shares during the period. 88.71% of the stock is owned by institutional investors.

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.