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

First Interstate BancSystem (NASDAQ:FIBK – Get Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

A number of other analysts also recently commented on the company. Zacks Investment Research upgraded First Interstate BancSystem from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Friday, April 8th. Keefe, Bruyette & Woods initiated coverage on First Interstate BancSystem in a research report on Friday, February 11th. They set a “market perform” rating on the stock. Finally, Wells Fargo & Company lowered their price target on First Interstate BancSystem from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $42.00.

NASDAQ:FIBK traded down $0.02 during mid-day trading on Monday, hitting $34.63. 481,668 shares of the company’s stock traded hands, compared to its average volume of 937,972. The stock has a fifty day moving average of $37.37. First Interstate BancSystem has a twelve month low of $33.83 and a twelve month high of $49.25. The company has a market cap of $2.15 billion, a P/E ratio of 11.14 and a beta of 1.03. The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 0.10.

First Interstate BancSystem (NASDAQ:FIBK – Get Rating) last posted its quarterly earnings results on Thursday, January 27th. The financial services provider reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.03. The business had revenue of $159.20 million for the quarter, compared to the consensus estimate of $161.03 million. First Interstate BancSystem had a return on equity of 10.07% and a net margin of 29.28%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.76 EPS. Analysts expect that First Interstate BancSystem will post 2.38 earnings per share for the current year.

In other news, Director Ross E. Leckie purchased 1,000 shares of the stock in a transaction dated Wednesday, February 2nd. The stock was acquired at an average cost of $36.79 per share, for a total transaction of $36,790.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Philip G. Gaglia sold 1,921 shares of the firm’s stock in a transaction on Wednesday, February 23rd. The stock was sold at an average price of $38.94, for a total value of $74,803.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,634 shares of company stock valued at $841,767. Insiders own 21.99% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. FourThought Financial LLC increased its position in First Interstate BancSystem by 990.4% in the 3rd quarter. FourThought Financial LLC now owns 796 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 723 shares during the period. UMB Bank N A MO boosted its stake in shares of First Interstate BancSystem by 567.4% during the 1st quarter. UMB Bank N A MO now owns 941 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 800 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of First Interstate BancSystem during the 3rd quarter worth approximately $74,000. Harbor Investment Advisory LLC raised its position in shares of First Interstate BancSystem by 97.8% during the 1st quarter. Harbor Investment Advisory LLC now owns 2,395 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 1,184 shares during the last quarter. Finally, West Financial Advisors LLC acquired a new position in shares of First Interstate BancSystem during the 1st quarter worth approximately $155,000. Institutional investors and hedge funds own 66.78% of the company’s stock.

First Interstate BancSystem Company Profile (Get Rating)

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.

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