First Interstate BancSystem (NASDAQ:FIBK) Downgraded by StockNews.com to Sell

First Interstate BancSystem (NASDAQ:FIBK) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

A number of other analysts have also recently issued reports on the company. Wells Fargo & Company increased their price objective on First Interstate BancSystem from $28.00 to $30.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. Stephens restated an “overweight” rating and set a $36.00 price target on shares of First Interstate BancSystem in a research report on Thursday, October 10th. Piper Sandler decreased their price objective on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Barclays raised their price target on First Interstate BancSystem from $30.00 to $31.00 and gave the stock an “underweight” rating in a research note on Thursday, December 5th. Finally, UBS Group began coverage on First Interstate BancSystem in a report on Tuesday, December 17th. They set a “neutral” rating and a $35.00 target price on the stock. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $35.14.

First Interstate BancSystem Stock Performance

Shares of FIBK opened at $32.77 on Tuesday. 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 one year low of $24.16 and a one year high of $36.77. The stock has a 50-day moving average of $33.14 and a 200-day moving average of $30.62. The company has a market cap of $3.43 billion, a PE ratio of 14.37 and a beta of 0.84.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same period in the prior year, the firm earned $0.70 EPS. On average, equities research analysts predict that First Interstate BancSystem will post 2.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other First Interstate BancSystem news, major shareholder James R. Scott, Jr. sold 6,067 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $34.50, for a total value of $209,311.50. Following the transaction, the insider now directly owns 75,387 shares in the company, valued at $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 available at this hyperlink. Also, Director Jonathan R. Scott sold 6,500 shares of First Interstate BancSystem stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total value of $222,170.00. Following the completion of the sale, the director now owns 958,710 shares of the company’s stock, valued at $32,768,707.80. The trade was a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,837 shares of company stock valued at $1,839,583 over the last ninety days. 6.90% of the stock is owned by insiders.

Hedge Funds Weigh In On First Interstate BancSystem

Several hedge funds have recently made changes to their positions in FIBK. TNF LLC lifted its stake in shares of First Interstate BancSystem by 1.5% in the 3rd quarter. TNF LLC now owns 25,376 shares of the financial services provider’s stock valued at $812,000 after purchasing an additional 367 shares during the period. Caprock Group LLC increased its position in shares of First Interstate BancSystem by 1.7% during the second quarter. Caprock Group LLC now owns 25,673 shares of the financial services provider’s stock worth $713,000 after purchasing an additional 422 shares in the last quarter. Wrapmanager Inc. boosted its position in First Interstate BancSystem by 5.0% during the third quarter. Wrapmanager Inc. now owns 8,979 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 429 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of First Interstate BancSystem by 5.3% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 507 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of First Interstate BancSystem by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,348 shares of the financial services provider’s stock worth $1,370,000 after acquiring an additional 598 shares during the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

First Interstate BancSystem Company Profile

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.