First Interstate BancSystem (NASDAQ:FIBK) PT Raised to $29.00

First Interstate BancSystem (NASDAQ:FIBK) had its target price increased by Barclays from $28.00 to $29.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective would suggest a potential upside of 6.23% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Stephens restated an “overweight” rating and set a $32.00 price target on shares of First Interstate BancSystem in a research note on Thursday. Wells Fargo & Company increased their price objective on First Interstate BancSystem from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Keefe, Bruyette & Woods increased their price objective on First Interstate BancSystem from $28.00 to $29.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, TheStreet cut First Interstate BancSystem from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $29.20.

First Interstate BancSystem Stock Up 1.3 %

Shares of FIBK stock traded up $0.35 during trading hours on Friday, reaching $27.30. 112,056 shares of the stock were exchanged, compared to its average volume of 825,561. The business’s fifty day moving average is $26.08 and its two-hundred day moving average is $26.66. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.77 and a quick ratio of 0.76. First Interstate BancSystem has a 12-month low of $20.81 and a 12-month high of $32.54. The firm has a market capitalization of $2.84 billion, a P/E ratio of 10.91 and a beta of 0.87.

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

Insider Activity at First Interstate BancSystem

In other First Interstate BancSystem news, EVP Karlyn M. Knieriem sold 2,900 shares of the firm’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 sale, the executive vice president now directly owns 20,599 shares of the company’s stock, valued at approximately $551,229.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other First Interstate BancSystem news, insider Lorrie F. Asker sold 1,921 shares of First Interstate BancSystem stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $26.05, for a total transaction of $50,042.05. Following the sale, the insider now directly owns 6,909 shares in the company, valued at approximately $179,979.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Karlyn M. Knieriem sold 2,900 shares of First Interstate BancSystem stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $26.76, for a total value of $77,604.00. Following the sale, the executive vice president now owns 20,599 shares in the company, valued at $551,229.24. The disclosure for this sale can be found here. Insiders have sold a total of 7,531 shares of company stock valued at $197,645 over the last quarter. Insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FIBK. Global Retirement Partners LLC boosted its position in First Interstate BancSystem by 132.8% during the 4th quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 530 shares during the period. Wolverine Asset Management LLC acquired a new position in First Interstate BancSystem during the 4th quarter valued at approximately $39,000. Parallel Advisors LLC boosted its position in First Interstate BancSystem by 205.3% during the 4th quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 856 shares during the period. CWM LLC boosted its position in First Interstate BancSystem by 42.1% during the 4th quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 702 shares during the period. Finally, Headlands Technologies LLC acquired a new position in First Interstate BancSystem during the 3rd quarter worth $81,000. 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.