First Interstate BancSystem (NASDAQ:FIBK) Stock Rating Upgraded by DA Davidson

First Interstate BancSystem (NASDAQ:FIBK) was upgraded by research analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. The brokerage presently has a $42.00 target price on the financial services provider’s stock, up from their previous target price of $32.00. DA Davidson’s target price suggests a potential upside of 18.81% from the stock’s previous close.

FIBK has been the topic of a number of other research reports. Barclays cut First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $32.00 to $30.00 in a report on Thursday, October 31st. Keefe, Bruyette & Woods lifted their target price on First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. StockNews.com cut First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Stephens restated an “overweight” rating and set a $36.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Finally, Wells Fargo & Company lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $30.00 to $28.00 in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $33.83.

First Interstate BancSystem Trading Down 0.2 %

NASDAQ:FIBK opened at $35.35 on Tuesday. The firm has a market capitalization of $3.70 billion, a P/E ratio of 15.50 and a beta of 0.81. The business has a 50 day simple moving average of $31.79 and a 200 day simple moving average of $29.68. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. First Interstate BancSystem has a 12-month low of $24.16 and a 12-month high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%. During the same quarter in the prior year, the business posted $0.70 EPS. Equities research analysts predict that First Interstate BancSystem will post 2.28 EPS for the current year.

Insider Activity

In other news, major shareholder James R. Scott, Jr. sold 6,067 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $34.50, for a total transaction of $209,311.50. Following the completion of the sale, the insider now owns 75,387 shares in the company, valued at approximately $2,600,851.50. This represents a 7.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Julie A. Scott sold 22,050 shares of First Interstate BancSystem stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $33.80, for a total value of $745,290.00. Following the completion of the transaction, the insider now owns 613,019 shares in the company, valued at $20,720,042.20. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,837 shares of company stock worth $1,839,583. Corporate insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On First Interstate BancSystem

Hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its stake in First Interstate BancSystem by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 51,919 shares of the financial services provider’s stock valued at $1,413,000 after buying an additional 2,940 shares in the last quarter. Bayesian Capital Management LP acquired a new position in First Interstate BancSystem in the 1st quarter worth approximately $286,000. CWM LLC grew its position in First Interstate BancSystem by 16.0% during the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 430 shares in the last quarter. SG Americas Securities LLC raised its stake in First Interstate BancSystem by 79.5% during the 2nd quarter. SG Americas Securities LLC now owns 18,021 shares of the financial services provider’s stock valued at $500,000 after purchasing an additional 7,979 shares during the period. Finally, SteelPeak Wealth LLC purchased a new stake in shares of First Interstate BancSystem in the second quarter valued at $241,000. Institutional investors and hedge funds 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.