Keefe, Bruyette & Woods Boosts First Interstate BancSystem (NASDAQ:FIBK) Price Target to $29.00

First Interstate BancSystem (NASDAQ:FIBK) had its target price boosted by Keefe, Bruyette & Woods from $28.00 to $29.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 7.41% from the stock’s current price.

Several other research firms have also weighed in on FIBK. Stephens restated an “overweight” rating and set a $32.00 price target on shares of First Interstate BancSystem in a research report on Thursday. TheStreet lowered First Interstate BancSystem from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. Barclays started coverage on First Interstate BancSystem in a research report on Friday, March 8th. They set an “equal weight” rating and a $28.00 price target on the stock. Finally, Wells Fargo & Company lifted their price target on First Interstate BancSystem from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, First Interstate BancSystem has an average rating of “Hold” and an average target price of $29.20.

First Interstate BancSystem Price Performance

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. First Interstate BancSystem has a 52-week low of $20.81 and a 52-week high of $32.54. The stock has a market capitalization of $2.81 billion, a PE ratio of 10.76 and a beta of 0.87. The stock’s 50 day moving average price is $26.10 and its 200-day moving average price is $26.70.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. First Interstate BancSystem had a return on equity of 8.55% and a net margin of 18.04%. The firm had revenue of $252.30 million for the quarter, compared to analysts’ expectations of $254.50 million. On average, equities research analysts predict that First Interstate BancSystem will post 2.17 EPS for the current year.

Insiders Place Their Bets

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 stock was sold at an average price of $26.76, for a total value of $77,604.00. Following the completion of the sale, the executive vice president now owns 20,599 shares in the company, valued at $551,229.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Karlyn M. Knieriem sold 2,900 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $26.76, for a total transaction of $77,604.00. Following the completion of the sale, the executive vice president now owns 20,599 shares in the company, valued at $551,229.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lorrie F. Asker sold 1,921 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $26.05, for a total value of $50,042.05. Following the sale, the insider now owns 6,909 shares of the company’s stock, valued at approximately $179,979.45. The disclosure for this sale can be found here. Insiders sold a total of 7,531 shares of company stock worth $197,645 over the last quarter. 6.90% of the stock is currently owned by corporate insiders.

Institutional Trading of First Interstate BancSystem

Several institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC boosted its stake in First Interstate BancSystem by 132.8% during the fourth quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock valued at $26,000 after buying an additional 530 shares during the last quarter. Wolverine Asset Management LLC bought a new position in First Interstate BancSystem during the fourth quarter valued at approximately $39,000. Parallel Advisors LLC boosted its stake in First Interstate BancSystem by 205.3% during the fourth quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock valued at $39,000 after buying an additional 856 shares during the last quarter. CWM LLC boosted its stake in First Interstate BancSystem by 42.1% during the fourth quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock valued at $73,000 after buying an additional 702 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in First Interstate BancSystem during the third quarter valued at approximately $81,000. 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.