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

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

Other equities research analysts also recently issued research reports about the company. TheStreet downgraded First Interstate BancSystem from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. Piper Sandler increased their target price on First Interstate BancSystem from $32.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Keefe, Bruyette & Woods increased their target price on First Interstate BancSystem from $28.00 to $29.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. Stephens reissued an “overweight” rating and issued a $32.00 target price on shares of First Interstate BancSystem in a research note on Thursday, April 25th. Finally, Wells Fargo & Company increased their target price on First Interstate BancSystem from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.20.

First Interstate BancSystem Stock Performance

Shares of FIBK opened at $27.11 on Wednesday. The firm has a market capitalization of $2.83 billion, a P/E ratio of 10.80 and a beta of 0.85. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a 50 day moving average price of $26.56 and a two-hundred day moving average price of $27.24. First Interstate BancSystem has a 52 week low of $20.81 and a 52 week high of $32.54.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.53 by $0.04. First Interstate BancSystem had a return on equity of 8.51% and a net margin of 17.76%. The business had revenue of $242.20 million for the quarter, compared to the consensus estimate of $236.80 million. Equities analysts forecast that First Interstate BancSystem will post 2.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Karlyn M. Knieriem sold 2,900 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $26.76, for a total transaction of $77,604.00. Following the transaction, the executive vice president now directly owns 20,599 shares in the company, valued at $551,229.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Lorrie F. Asker sold 1,921 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total value of $50,042.05. Following the transaction, the insider now directly owns 6,909 shares in the company, valued at approximately $179,979.45. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Karlyn M. Knieriem sold 2,900 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $26.76, for a total transaction of $77,604.00. Following the sale, the executive vice president now directly owns 20,599 shares in the company, valued at $551,229.24. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Interstate BancSystem

A number of large investors have recently modified their holdings of FIBK. Vanguard Group Inc. boosted its stake in First Interstate BancSystem by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 9,180,595 shares of the financial services provider’s stock worth $282,303,000 after purchasing an additional 533,293 shares during the period. FMR LLC lifted its stake in shares of First Interstate BancSystem by 0.4% in the 3rd quarter. FMR LLC now owns 6,451,758 shares of the financial services provider’s stock worth $160,907,000 after acquiring an additional 28,343 shares during the period. Franklin Resources Inc. lifted its stake in shares of First Interstate BancSystem by 36.2% in the 4th quarter. Franklin Resources Inc. now owns 5,453,783 shares of the financial services provider’s stock worth $167,704,000 after acquiring an additional 1,449,219 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of First Interstate BancSystem by 20.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,590,707 shares of the financial services provider’s stock worth $110,418,000 after acquiring an additional 620,682 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of First Interstate BancSystem by 5.0% in the 4th quarter. Wellington Management Group LLP now owns 2,970,727 shares of the financial services provider’s stock worth $91,350,000 after acquiring an additional 142,069 shares during the period. 88.71% of the stock is owned by hedge funds and other institutional investors.

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.