First Interstate BancSystem (NASDAQ:FIBK) Downgraded by Wall Street Zen to Sell

First Interstate BancSystem (NASDAQ:FIBK) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

Other equities research analysts have also issued research reports about the stock. Stephens lowered shares of First Interstate BancSystem from an “overweight” rating to an “equal weight” rating in a research note on Thursday, February 5th. Weiss Ratings restated a “hold (c+)” rating on shares of First Interstate BancSystem in a research note on Monday, December 29th. Keefe, Bruyette & Woods upped their target price 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. UBS Group reaffirmed a “neutral” rating and set a $38.00 target price on shares of First Interstate BancSystem in a report on Wednesday, February 4th. Finally, DA Davidson reissued a “buy” rating and issued a $42.00 price target on shares of First Interstate BancSystem in a report on Thursday, January 29th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $38.17.

First Interstate BancSystem Trading Up 0.9%

Shares of NASDAQ FIBK opened at $37.66 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.73 and a debt-to-equity ratio of 0.09. The stock’s 50 day moving average price is $36.46 and its two-hundred day moving average price is $33.30. First Interstate BancSystem has a 52-week low of $22.95 and a 52-week high of $39.26. The stock has a market capitalization of $3.87 billion, a P/E ratio of 12.77 and a beta of 0.80.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.44. First Interstate BancSystem had a return on equity of 8.83% and a net margin of 17.62%.The business had revenue of $205.10 million during the quarter, compared to the consensus estimate of $256.89 million. During the same period in the previous year, the business earned $0.50 EPS. The business’s quarterly revenue was up 19.8% on a year-over-year basis. On average, analysts anticipate that First Interstate BancSystem will post 2.53 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John M. Heyneman, Jr. sold 30,432 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $31.03, for a total value of $944,304.96. Following the completion of the sale, the director owned 1,414,636 shares of the company’s stock, valued at $43,896,155.08. This trade represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Jonathan R. Scott sold 1,827 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $36.92, for a total value of $67,452.84. Following the transaction, the insider directly owned 936,024 shares in the company, valued at $34,558,006.08. The trade was a 0.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 45,432 shares of company stock worth $1,454,120 over the last quarter. Corporate insiders own 8.20% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Several institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its position in First Interstate BancSystem by 37.2% in the 1st quarter. AQR Capital Management LLC now owns 67,214 shares of the financial services provider’s stock worth $1,926,000 after buying an additional 18,210 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of First Interstate BancSystem by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,230 shares of the financial services provider’s stock worth $1,353,000 after acquiring an additional 2,070 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in First Interstate BancSystem during the first quarter valued at $238,000. Jones Financial Companies Lllp boosted its position in First Interstate BancSystem by 24,352.5% during the first quarter. Jones Financial Companies Lllp now owns 24,697 shares of the financial services provider’s stock valued at $708,000 after purchasing an additional 24,596 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in First Interstate BancSystem in the first quarter valued at about $5,125,000. 88.71% of the stock is currently owned by institutional investors and hedge funds.

About First Interstate BancSystem

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.