First Interstate BancSystem (NASDAQ:FIBK) Now Covered by UBS Group

Analysts at UBS Group began coverage on shares of First Interstate BancSystem (NASDAQ:FIBK – Get Rating) in a note issued to investors on Wednesday, The Fly reports. The firm set a “neutral” rating and a $33.00 price target on the financial services provider’s stock. UBS Group’s price target points to a potential upside of 4.04% from the stock’s previous close.

A number of other analysts also recently weighed in on FIBK. Wells Fargo & Company cut their price target on shares of First Interstate BancSystem from $48.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday, January 30th. Keefe, Bruyette & Woods downgraded shares of First Interstate BancSystem from an “outperform” rating to a “market perform” rating and cut their price target for the company from $49.00 to $38.00 in a research report on Monday, January 30th. Stephens upgraded shares of First Interstate BancSystem from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $44.00 to $43.00 in a research report on Wednesday, February 1st. Finally, Janney Montgomery Scott downgraded shares of First Interstate BancSystem from a “buy” rating to a “neutral” rating in a research report on Monday, January 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $42.00.

First Interstate BancSystem Stock Performance

First Interstate BancSystem stock opened at $31.72 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.85. First Interstate BancSystem has a 1 year low of $29.50 and a 1 year high of $46.34. The company has a market cap of $3.31 billion, a PE ratio of 17.15 and a beta of 0.86. The company’s 50-day moving average is $36.20 and its two-hundred day moving average is $39.80.

Insider Transactions at First Interstate BancSystem

In other news, Director James Brannen sold 9,300 shares of the firm’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $36.71, for a total transaction of $341,403.00. Following the completion of the transaction, the director now directly owns 8,385 shares of the company’s stock, valued at approximately $307,813.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Julie A. Scott sold 288,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $35.63, for a total transaction of $10,261,440.00. Following the completion of the transaction, the director now directly owns 2,517,351 shares of the company’s stock, valued at approximately $89,693,216.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Brannen sold 9,300 shares of the firm’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $36.71, for a total transaction of $341,403.00. Following the transaction, the director now directly owns 8,385 shares of the company’s stock, valued at $307,813.35. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On First Interstate BancSystem

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cladis Investment Advisory LLC grew its stake in shares of First Interstate BancSystem by 1.6% in the third quarter. Cladis Investment Advisory LLC now owns 25,719 shares of the financial services provider’s stock valued at $1,038,000 after buying an additional 401 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC grew its stake in shares of First Interstate BancSystem by 23.2% in the second quarter. Philadelphia Financial Management of San Francisco LLC now owns 220,549 shares of the financial services provider’s stock valued at $8,405,000 after buying an additional 41,468 shares in the last quarter. Naples Global Advisors LLC grew its stake in shares of First Interstate BancSystem by 14.1% in the second quarter. Naples Global Advisors LLC now owns 26,850 shares of the financial services provider’s stock valued at $1,023,000 after buying an additional 3,325 shares in the last quarter. RMB Capital Management LLC bought a new position in shares of First Interstate BancSystem in the second quarter valued at $15,244,000. Finally, Advisory Research Inc. grew its stake in shares of First Interstate BancSystem by 19.2% in the second quarter. Advisory Research Inc. now owns 97,131 shares of the financial services provider’s stock valued at $3,702,000 after buying an additional 15,674 shares in the last quarter. 77.78% of the stock is owned by institutional investors.

First Interstate BancSystem Company Profile

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First Interstate BancSystem, Inc is a financial holding company, which engages in the provision of community banking solutions. The firm offers commercial and consumer banking services to individuals, businesses, municipalities, and other entities. The company was founded by Homer Scott Sr. in 1968 and is headquartered in Billings, MT.