First Interstate BancSystem’s (FIBK) “Overweight” Rating Reiterated at Stephens

First Interstate BancSystem (NASDAQ:FIBK)‘s stock had its “overweight” rating reaffirmed by investment analysts at Stephens in a report issued on Thursday, Benzinga reports. They presently have a $32.00 price target on the financial services provider’s stock. Stephens’ price objective suggests a potential upside of 18.56% from the stock’s current price.

Several other brokerages have also recently issued reports on FIBK. Barclays initiated coverage on shares of First Interstate BancSystem in a report on Friday, March 8th. They issued an “equal weight” rating and a $28.00 target price on the stock. Wells Fargo & Company raised their target price on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Finally, TheStreet cut shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $29.00.

First Interstate BancSystem Stock Up 1.6 %

Shares of NASDAQ:FIBK traded up $0.42 during trading on Thursday, reaching $26.99. 782,607 shares of the stock traded hands, compared to its average volume of 826,967. The stock has a 50-day moving average of $26.08 and a two-hundred day moving average of $26.66. First Interstate BancSystem has a 52-week low of $20.81 and a 52-week high of $32.54. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.76 and a current ratio of 0.77. The stock has a market cap of $2.81 billion, a P/E ratio of 10.82 and a beta of 0.87.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.47%. The firm had revenue of $252.30 million for the quarter, compared to analysts’ expectations of $254.50 million. As a group, sell-side analysts expect that First Interstate BancSystem will post 2.17 earnings per share for the current fiscal year.

Insider Transactions at First Interstate BancSystem

In other news, EVP Kristina Robbins sold 2,710 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total transaction of $69,999.30. Following the sale, the executive vice president now directly owns 9,047 shares in the company, valued at approximately $233,684.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Kristina Robbins sold 2,710 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total transaction of $69,999.30. Following the sale, the executive vice president now directly owns 9,047 shares in the company, valued at approximately $233,684.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lorrie F. Asker sold 1,921 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total transaction of $50,042.05. Following the sale, the insider now owns 6,909 shares in the company, valued at $179,979.45. The disclosure for this sale can be found here. Insiders have sold 7,531 shares of company stock worth $197,645 in the last 90 days. 6.90% of the stock is currently owned by insiders.

Institutional Trading of First Interstate BancSystem

Institutional investors and hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC increased its holdings in shares of First Interstate BancSystem by 132.8% in the 4th quarter. Global Retirement Partners LLC now owns 929 shares of the financial services provider’s stock worth $26,000 after buying an additional 530 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in shares of First Interstate BancSystem in the 4th quarter worth about $39,000. Parallel Advisors LLC increased its holdings in shares of First Interstate BancSystem by 205.3% in the 4th quarter. Parallel Advisors LLC now owns 1,273 shares of the financial services provider’s stock worth $39,000 after buying an additional 856 shares during the last quarter. CWM LLC increased its holdings in shares of First Interstate BancSystem by 42.1% in the 4th quarter. CWM LLC now owns 2,368 shares of the financial services provider’s stock worth $73,000 after buying an additional 702 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of First Interstate BancSystem in the 3rd quarter worth about $81,000. 88.71% of the stock is currently owned by 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.