First Interstate BancSystem (NASDAQ:FIBK) Stock Rating Upgraded by Wall Street Zen

First Interstate BancSystem (NASDAQ:FIBK) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Other research analysts have also recently issued reports about the stock. Barclays decreased their price objective on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Friday, January 30th. Piper Sandler raised their target price on First Interstate BancSystem from $41.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. DA Davidson reiterated a “buy” rating and issued a $42.00 price target on shares of First Interstate BancSystem in a research note on Thursday, January 29th. UBS Group reissued a “neutral” rating and set a $38.00 price target on shares of First Interstate BancSystem in a report on Wednesday, February 4th. Finally, Keefe, Bruyette & Woods upped their price objective on First Interstate BancSystem from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, First Interstate BancSystem currently has an average rating of “Hold” and an average target price of $38.17.

First Interstate BancSystem Trading Down 2.3%

Shares of First Interstate BancSystem stock opened at $34.19 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.09. First Interstate BancSystem has a 12-month low of $22.95 and a 12-month high of $39.26. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 11.59 and a beta of 0.77. The firm’s 50-day moving average price is $36.64 and its two-hundred day moving average price is $33.96.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Wednesday, January 28th. The financial services provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.64 by $0.44. First Interstate BancSystem had a net margin of 21.40% and a return on equity of 8.83%. The company had revenue of $205.10 million during the quarter, compared to analysts’ expectations of $256.89 million. During the same period in the previous year, the company earned $0.50 EPS. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, analysts forecast that First Interstate BancSystem will post 2.53 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Jonathan R. Scott sold 3,173 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $36.20, for a total value of $114,862.60. Following the sale, the insider directly owned 937,851 shares of the company’s stock, valued at approximately $33,950,206.20. This represents a 0.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 8.20% of the company’s stock.

Institutional Trading of First Interstate BancSystem

A number of institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC acquired a new stake in First Interstate BancSystem during the fourth quarter worth approximately $2,127,000. Capstone Wealth Management Inc. acquired a new position in First Interstate BancSystem in the fourth quarter valued at approximately $776,000. Invesco Ltd. lifted its stake in First Interstate BancSystem by 21.7% in the fourth quarter. Invesco Ltd. now owns 370,064 shares of the financial services provider’s stock valued at $12,804,000 after buying an additional 66,038 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in shares of First Interstate BancSystem by 32.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 19,865 shares of the financial services provider’s stock worth $687,000 after buying an additional 4,829 shares in the last quarter. Finally, State of Tennessee Department of Treasury acquired a new stake in shares of First Interstate BancSystem during the 4th quarter worth approximately $705,000. Institutional investors own 88.71% of the company’s stock.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.