First Interstate BancSystem (NASDAQ:FIBK) Downgraded to Sell Rating by StockNews.com

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Wednesday.

Several other equities research analysts have also commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the stock a "market perform" rating in a research note on Monday, July 29th. Stephens reissued an "overweight" rating and issued a $36.00 price target on shares of First Interstate BancSystem in a report on Thursday, October 10th. DA Davidson upped their target price on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the stock a "neutral" rating in a research report on Monday, July 29th. Wells Fargo & Company downgraded First Interstate BancSystem from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $30.00 to $28.00 in a research note on Tuesday, October 1st. Finally, Barclays lowered shares of First Interstate BancSystem from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $32.00 to $30.00 in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, First Interstate BancSystem currently has an average rating of "Hold" and a consensus target price of $32.50.

First Interstate BancSystem Trading Down 0.1 %

FIBK stock traded down $0.03 during trading on Wednesday, reaching $33.39. 432,494 shares of the stock were exchanged, compared to its average volume of 673,458. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 14.66 and a beta of 0.81. First Interstate BancSystem has a 1 year low of $24.16 and a 1 year high of $34.53. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. The business has a 50 day moving average price of $31.24 and a 200-day moving average price of $29.40.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share 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. On average, research analysts predict that First Interstate BancSystem will post 2.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Julie A. Scott sold 22,050 shares of the business's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total transaction of $745,290.00. Following the transaction, the insider now directly owns 613,019 shares of the company's stock, valued at approximately $20,720,042.20. The trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jonathan R. Scott sold 6,500 shares of First Interstate BancSystem stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $34.18, for a total transaction of $222,170.00. Following the sale, the director now directly owns 958,710 shares in the company, valued at $32,768,707.80. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,320 shares of company stock valued at $1,647,096. Insiders own 6.90% of the company's stock.

Institutional Trading of First Interstate BancSystem

Institutional investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd acquired a new stake in First Interstate BancSystem during the third quarter valued at approximately $34,000. Point72 Asia Singapore Pte. Ltd. bought a new position in First Interstate BancSystem in the 3rd quarter worth about $69,000. CWM LLC raised its stake in First Interstate BancSystem by 16.0% during the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider's stock valued at $87,000 after acquiring an additional 430 shares in the last quarter. Innealta Capital LLC acquired a new stake in First Interstate BancSystem in the second quarter worth about $106,000. Finally, nVerses Capital LLC boosted its holdings in shares of First Interstate BancSystem by 412.5% in the second quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider's stock valued at $114,000 after acquiring an additional 3,300 shares in the last quarter. 88.71% of the stock is 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.