Stephens Reiterates Overweight Rating for First Interstate BancSystem (NASDAQ:FIBK)

First Interstate BancSystem (NASDAQ:FIBK)‘s stock had its “overweight” rating reaffirmed by equities researchers at Stephens in a report issued on Thursday, Benzinga reports. They currently have a $32.00 price objective on the financial services provider’s stock. Stephens’ target price would suggest a potential upside of 18.52% from the stock’s current price.

A number of other research analysts have also commented on the company. Barclays started coverage on First Interstate BancSystem in a report on Friday, March 8th. They set an “equal weight” rating and a $28.00 price objective on the stock. TheStreet lowered First Interstate BancSystem from a “b-” rating to a “c+” rating in a report on Monday, March 18th. 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 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, First Interstate BancSystem currently has an average rating of “Hold” and an average price target of $29.20.

First Interstate BancSystem Stock Performance

Shares of NASDAQ FIBK opened at $27.00 on Thursday. 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 firm has a market cap of $2.81 billion, a price-to-earnings ratio of 10.76 and a beta of 0.87. The business’s 50-day simple moving average is $26.10 and its 200-day simple moving average is $26.68. 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 issued its quarterly earnings data 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. The business had revenue of $252.30 million for the quarter, compared to analyst estimates of $254.50 million. First Interstate BancSystem had a return on equity of 8.55% and a net margin of 18.04%. As a group, equities research analysts expect that First Interstate BancSystem will post 2.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Interstate BancSystem news, insider Lorrie F. Asker sold 1,921 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $26.05, for a total value of $50,042.05. Following the completion of the sale, the insider now owns 6,909 shares in the company, valued at approximately $179,979.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other First Interstate BancSystem news, EVP Karlyn M. Knieriem sold 2,900 shares of the firm’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 value of $77,604.00. Following the completion of the sale, the executive vice president now owns 20,599 shares in the company, valued at approximately $551,229.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lorrie F. Asker sold 1,921 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $26.05, for a total value of $50,042.05. Following the completion of the sale, the insider now owns 6,909 shares of the company’s stock, valued at approximately $179,979.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,531 shares of company stock worth $197,645. 6.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Interstate BancSystem

Hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC raised 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 in the last quarter. Wolverine Asset Management LLC acquired a new position in shares of First Interstate BancSystem in the 4th quarter worth approximately $39,000. Parallel Advisors LLC raised 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 in the last quarter. CWM LLC raised 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 in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of First Interstate BancSystem in the 3rd quarter worth approximately $81,000. 88.71% of the stock is owned by institutional investors and hedge funds.

First Interstate BancSystem Company Profile

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.