First Interstate BancSystem (NASDAQ:FIBK) Stock Rating Upgraded by Wall Street Zen

First Interstate BancSystem (NASDAQ:FIBK) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other brokerages have also recently weighed in on FIBK. Barclays dropped their price target on First Interstate BancSystem from $38.00 to $36.00 and set an “equal weight” rating for the company in a research report on Friday, January 30th. Keefe, Bruyette & Woods boosted their price objective on shares of First Interstate BancSystem from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. UBS Group reissued a “neutral” rating and issued a $38.00 price objective on shares of First Interstate BancSystem in a research note on Wednesday, February 4th. Piper Sandler lifted their target price on shares of First Interstate BancSystem from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday, February 2nd. Finally, Stephens cut First Interstate BancSystem from an “overweight” rating to an “equal weight” rating in a report on Thursday, February 5th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $38.17.

First Interstate BancSystem Price Performance

FIBK stock opened at $34.19 on Friday. The firm has a 50 day moving average of $36.64 and a 200-day moving average of $34.01. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 11.59 and a beta of 0.77. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.09. First Interstate BancSystem has a 12-month low of $22.95 and a 12-month high of $39.26.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.44. The firm had revenue of $205.10 million during the quarter, compared to the consensus estimate of $256.89 million. First Interstate BancSystem had a return on equity of 8.83% and a net margin of 21.40%.First Interstate BancSystem’s quarterly revenue was up 19.8% on a year-over-year basis. During the same period last year, the business posted $0.50 EPS. As a group, equities analysts expect that First Interstate BancSystem will post 2.53 EPS for the current fiscal year.

Insider Activity at First Interstate BancSystem

In related news, major shareholder Jonathan R. Scott sold 1,827 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $36.92, for a total transaction of $67,452.84. Following the transaction, the insider directly owned 936,024 shares of the company’s stock, valued at approximately $34,558,006.08. The trade was a 0.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 8.20% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Several large investors have recently bought and sold shares of the company. HoldCo Asset Management LP acquired a new position in shares of First Interstate BancSystem during the second quarter worth $102,890,000. Capital International Investors acquired a new stake in First Interstate BancSystem during the 4th quarter valued at $92,504,000. State Street Corp increased its stake in First Interstate BancSystem by 29.7% during the 4th quarter. State Street Corp now owns 5,482,245 shares of the financial services provider’s stock worth $189,686,000 after buying an additional 1,254,321 shares during the period. Vanguard Group Inc. lifted its holdings in First Interstate BancSystem by 13.7% in the 4th quarter. Vanguard Group Inc. now owns 10,048,419 shares of the financial services provider’s stock worth $347,675,000 after buying an additional 1,214,454 shares in the last quarter. Finally, Azora Capital LP lifted its holdings in First Interstate BancSystem by 1,538.7% in the 3rd quarter. Azora Capital LP now owns 1,275,693 shares of the financial services provider’s stock worth $40,656,000 after buying an additional 1,197,843 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.