Keefe, Bruyette & Woods Boosts First Interstate BancSystem (NASDAQ:FIBK) Price Target to $29.00

First Interstate BancSystem (NASDAQ:FIBK) had its price target hoisted by Keefe, Bruyette & Woods from $28.00 to $29.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 6.34% from the stock’s previous close.

Several other analysts also recently commented on FIBK. Wells Fargo & Company increased their price objective on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Barclays began coverage on shares of First Interstate BancSystem in a research report on Friday, March 8th. They set an “equal weight” rating and a $28.00 price objective on the stock. TheStreet downgraded shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a report on Monday, March 18th. Finally, Stephens reaffirmed an “overweight” rating and set a $32.00 price target on shares of First Interstate BancSystem in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.20.

First Interstate BancSystem Stock Up 1.2 %

Shares of NASDAQ:FIBK traded up $0.32 during midday trading on Friday, reaching $27.27. The company’s stock had a trading volume of 79,743 shares, compared to its average volume of 825,060. The firm has a 50 day moving average of $26.08 and a 200-day moving average of $26.66. The firm has a market capitalization of $2.83 billion, a P/E ratio of 10.86 and a beta of 0.87. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.89. First Interstate BancSystem has a 12-month low of $20.81 and a 12-month high of $32.54.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.55%. The company had revenue of $252.30 million for the quarter, compared to the consensus estimate of $254.50 million. On average, research analysts anticipate that First Interstate BancSystem will post 2.17 earnings per share for the current year.

Insider Transactions at First Interstate BancSystem

In other news, EVP Kristina Robbins sold 2,710 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total value of $69,999.30. Following the transaction, the executive vice president now owns 9,047 shares in the company, valued at approximately $233,684.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Kristina Robbins sold 2,710 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total value of $69,999.30. Following the transaction, the executive vice president now owns 9,047 shares in the company, valued at approximately $233,684.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lorrie F. Asker sold 1,921 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $26.05, for a total transaction of $50,042.05. Following the completion of the transaction, the insider now owns 6,909 shares in the company, valued at approximately $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 quarter. Company insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On First Interstate BancSystem

Several institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its position in shares of First Interstate BancSystem by 28.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,378 shares of the financial services provider’s stock valued at $104,000 after buying an additional 744 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of First Interstate BancSystem by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 9,180,595 shares of the financial services provider’s stock valued at $282,303,000 after purchasing an additional 533,293 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of First Interstate BancSystem in the fourth quarter valued at $164,000. Wellington Management Group LLP grew its holdings in shares of First Interstate BancSystem by 5.0% in the fourth quarter. Wellington Management Group LLP now owns 2,970,727 shares of the financial services provider’s stock valued at $91,350,000 after purchasing an additional 142,069 shares in the last quarter. Finally, Sierra Summit Advisors LLC purchased a new position in shares of First Interstate BancSystem in the fourth quarter valued at $266,000. Institutional investors own 88.71% of the company’s stock.

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.