First Interstate BancSystem (NASDAQ:FIBK) Price Target Lowered to $38.00 at Stephens

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) had its price objective lowered by investment analysts at Stephens from $39.00 to $38.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Stephens' target price suggests a potential upside of 17.14% from the stock's previous close.

A number of other analysts have also issued reports on the company. DA Davidson reiterated a "buy" rating and set a $42.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Keefe, Bruyette & Woods upped their price target on First Interstate BancSystem from $32.00 to $36.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Barclays raised their price objective on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the company an "underweight" rating in a research report on Thursday, December 5th. StockNews.com lowered shares of First Interstate BancSystem from a "hold" rating to a "sell" rating in a report on Tuesday, December 24th. Finally, Wells Fargo & Company lowered their target price on shares of First Interstate BancSystem from $30.00 to $29.00 and set an "underweight" rating on the stock in a research note on Monday, January 6th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $36.14.

First Interstate BancSystem Stock Performance

First Interstate BancSystem stock traded up $0.69 during midday trading on Friday, reaching $32.44. The stock had a trading volume of 599,300 shares, compared to its average volume of 631,404. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $3.39 billion, a PE ratio of 14.81 and a beta of 0.85. First Interstate BancSystem has a 12 month low of $24.16 and a 12 month high of $36.77. The firm's 50-day moving average price is $33.10 and its 200 day moving average price is $31.61.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, beating 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%. As a group, research analysts predict that First Interstate BancSystem will post 2.54 earnings per share for the current fiscal year.

Insider Transactions at First Interstate BancSystem

In other news, Director Jonathan R. Scott sold 6,500 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total value of $222,170.00. Following the completion of the sale, the director now directly owns 958,710 shares in the company, valued at approximately $32,768,707.80. The trade was a 0.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Julie A. Scott sold 22,050 shares of the 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 in the company, valued at approximately $20,720,042.20. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,837 shares of company stock valued at $1,839,583. Insiders own 6.90% of the company's stock.

Institutional Trading of First Interstate BancSystem

Several institutional investors have recently added to or reduced their stakes in FIBK. Point72 DIFC Ltd bought a new stake in shares of First Interstate BancSystem in the 3rd quarter valued at about $34,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in First Interstate BancSystem in the third quarter valued at approximately $69,000. KBC Group NV boosted its stake in shares of First Interstate BancSystem by 34.1% during the fourth quarter. KBC Group NV now owns 4,018 shares of the financial services provider's stock valued at $130,000 after purchasing an additional 1,022 shares during the period. CWM LLC grew its holdings in shares of First Interstate BancSystem by 65.0% in the third quarter. CWM LLC now owns 5,152 shares of the financial services provider's stock worth $158,000 after purchasing an additional 2,029 shares during the last quarter. Finally, Telos Capital Management Inc. purchased a new position in shares of First Interstate BancSystem in the third quarter worth $201,000. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

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.