First Interstate BancSystem (NASDAQ:FIBK) Stock Rating Lowered by StockNews.com

First Interstate BancSystem (NASDAQ:FIBK) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

A number of other brokerages also recently weighed in on FIBK. Barclays downgraded First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $32.00 to $30.00 in a research report on Thursday, October 31st. Stephens reiterated an “overweight” rating and issued a $36.00 price target on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Piper Sandler decreased their price target on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Wells Fargo & Company cut First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $30.00 to $28.00 in a research note on Tuesday, October 1st. Finally, Keefe, Bruyette & Woods raised their price objective on First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, First Interstate BancSystem currently has an average rating of “Hold” and an average target price of $32.50.

First Interstate BancSystem Price Performance

FIBK opened at $33.42 on Wednesday. First Interstate BancSystem has a 12-month low of $24.16 and a 12-month high of $34.53. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. The business’s fifty day simple moving average is $31.16 and its 200-day simple moving average is $29.36. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 14.66 and a beta of 0.81.

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 analysts’ consensus estimates 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 company posted $0.70 EPS. On average, equities research analysts anticipate that First Interstate BancSystem will post 2.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other First Interstate BancSystem news, major shareholder Julie A. Scott sold 20,220 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $32.78, for a total value of $662,811.60. Following the sale, the insider now directly owns 635,069 shares of the company’s stock, valued at approximately $20,817,561.82. This trade represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan R. Scott sold 6,500 shares of the firm’s stock in a transaction that occurred on 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 directly owns 958,710 shares in the company, valued at approximately $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 a total of 49,320 shares of company stock valued at $1,647,096 over the last ninety days. Company insiders own 6.90% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of First Interstate BancSystem by 3.1% in the third quarter. Geode Capital Management LLC now owns 1,992,873 shares of the financial services provider’s stock worth $61,152,000 after acquiring an additional 59,367 shares during the last quarter. Barclays PLC lifted its position in First Interstate BancSystem by 18.6% during the third quarter. Barclays PLC now owns 206,213 shares of the financial services provider’s stock worth $6,326,000 after buying an additional 32,298 shares in the last quarter. Jane Street Group LLC lifted its position in First Interstate BancSystem by 13.9% during the third quarter. Jane Street Group LLC now owns 188,084 shares of the financial services provider’s stock worth $5,770,000 after buying an additional 22,899 shares in the last quarter. Wellington Management Group LLP lifted its position in First Interstate BancSystem by 6.5% during the third quarter. Wellington Management Group LLP now owns 1,288,214 shares of the financial services provider’s stock worth $39,522,000 after buying an additional 78,596 shares in the last quarter. Finally, Systematic Financial Management LP purchased a new position in First Interstate BancSystem during the third quarter worth approximately $840,000. 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.