First Interstate BancSystem (NASDAQ:FIBK) Price Target Cut to $38.00 by Analysts at Keefe, Bruyette & Woods

First Interstate BancSystem (NASDAQ:FIBK) had its price objective lowered by stock analysts at Keefe, Bruyette & Woods from $39.00 to $38.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 10.52% from the stock’s previous close.

FIBK has been the topic of a number of other research reports. DA Davidson restated a “buy” rating and set a $42.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, January 29th. Weiss Ratings upgraded First Interstate BancSystem from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, April 2nd. UBS Group lowered First Interstate BancSystem from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $38.00 to $35.00 in a research note on Tuesday. Barclays lowered their price objective on First Interstate BancSystem from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Friday, January 30th. Finally, Wall Street Zen upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $38.00.

First Interstate BancSystem Trading Up 1.0%

Shares of FIBK stock traded up $0.34 during trading hours on Thursday, hitting $34.38. 1,215,748 shares of the company were exchanged, compared to its average volume of 1,162,364. The firm has a market cap of $3.48 billion, a PE ratio of 11.67 and a beta of 0.77. First Interstate BancSystem has a 1 year low of $23.76 and a 1 year high of $39.26. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average of $35.15 and a 200 day moving average of $34.14.

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

Institutional Investors Weigh In On First Interstate BancSystem

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in First Interstate BancSystem by 1.5% during the third quarter. Dimensional Fund Advisors LP now owns 5,495,403 shares of the financial services provider’s stock worth $175,140,000 after buying an additional 78,835 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in First Interstate BancSystem in the third quarter valued at approximately $2,115,000. Vestmark Advisory Solutions Inc. bought a new position in First Interstate BancSystem in the third quarter valued at approximately $895,000. Cambria Investment Management L.P. bought a new position in First Interstate BancSystem in the third quarter valued at approximately $9,083,000. Finally, HoldCo Asset Management LP increased its stake in First Interstate BancSystem by 10.6% in the third quarter. HoldCo Asset Management LP now owns 3,950,107 shares of the financial services provider’s stock valued at $125,890,000 after acquiring an additional 380,000 shares during the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.

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.