Barclays Raises First Interstate BancSystem (NASDAQ:FIBK) Price Target to $29.00

First Interstate BancSystem (NASDAQ:FIBK) had its price target upped by Barclays from $28.00 to $29.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target indicates a potential upside of 7.41% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. Wells Fargo & Company boosted their price target on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Stephens reiterated an “overweight” rating and set a $32.00 price target on shares of First Interstate BancSystem in a research note on Thursday. Keefe, Bruyette & Woods boosted their price target on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the stock a “market perform” rating in a research note on Friday. Finally, TheStreet lowered shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, First Interstate BancSystem presently has a consensus rating of “Hold” and a consensus price target of $29.20.

First Interstate BancSystem Trading Up 0.2 %

NASDAQ FIBK opened at $27.00 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.76 and a current ratio of 0.77. The firm has a market cap of $2.81 billion, a PE ratio of 10.76 and a beta of 0.87. First Interstate BancSystem has a one year low of $20.81 and a one year high of $32.54. The firm’s fifty day moving average is $26.10 and its two-hundred day moving average is $26.70.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.55%. The company had revenue of $252.30 million for the quarter, compared to analyst estimates of $254.50 million. Analysts expect that First Interstate BancSystem will post 2.17 earnings per share for the current year.

Insider Buying and Selling

In other First Interstate BancSystem news, EVP Karlyn M. Knieriem sold 2,900 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $26.76, for a total value of $77,604.00. Following the sale, the executive vice president now owns 20,599 shares of the company’s stock, valued at $551,229.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other First Interstate BancSystem news, EVP Karlyn M. Knieriem sold 2,900 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $26.76, for a total value of $77,604.00. Following the sale, the executive vice president now owns 20,599 shares of the company’s stock, valued at $551,229.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lorrie F. Asker sold 1,921 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total transaction of $50,042.05. Following the completion of the sale, the insider now directly owns 6,909 shares in the company, valued at approximately $179,979.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,531 shares of company stock valued at $197,645. Corporate insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On First Interstate BancSystem

Several institutional investors and hedge funds have recently modified their holdings of FIBK. Raymond James & Associates lifted its stake in shares of First Interstate BancSystem by 4.9% during the third quarter. Raymond James & Associates now owns 18,532 shares of the financial services provider’s stock valued at $462,000 after buying an additional 871 shares during the period. Jennison Associates LLC lifted its stake in shares of First Interstate BancSystem by 93.4% during the third quarter. Jennison Associates LLC now owns 1,426,641 shares of the financial services provider’s stock valued at $35,580,000 after buying an additional 688,906 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of First Interstate BancSystem by 37.7% during the third quarter. Teacher Retirement System of Texas now owns 12,153 shares of the financial services provider’s stock valued at $303,000 after buying an additional 3,328 shares during the period. Mesirow Institutional Investment Management Inc. purchased a new position in shares of First Interstate BancSystem during the third quarter valued at approximately $10,857,000. Finally, Bahl & Gaynor Inc. increased its position in First Interstate BancSystem by 2.2% during the third quarter. Bahl & Gaynor Inc. now owns 704,986 shares of the financial services provider’s stock worth $17,582,000 after purchasing an additional 15,092 shares during the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

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.