First Interstate BancSystem (NASDAQ:FIBK) Price Target Raised to $39.00

First Interstate BancSystem (NASDAQ:FIBK) had its price objective upped by equities researchers at Keefe, Bruyette & Woods from $37.00 to $39.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 8.40% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. DA Davidson lifted their price objective on shares of First Interstate BancSystem from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, September 12th. Barclays lifted their target price on First Interstate BancSystem from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, November 11th. Weiss Ratings downgraded First Interstate BancSystem from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Wells Fargo & Company raised their target price on shares of First Interstate BancSystem from $28.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, September 29th. Finally, Wall Street Zen downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $36.57.

First Interstate BancSystem Trading Up 1.1%

NASDAQ:FIBK traded up $0.41 during trading hours on Wednesday, reaching $35.98. 379,273 shares of the stock were exchanged, compared to its average volume of 953,890. First Interstate BancSystem has a twelve month low of $22.95 and a twelve month high of $36.35. The business has a 50-day moving average of $32.23 and a two-hundred day moving average of $30.99. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 15.19 and a beta of 0.82. The company has a quick ratio of 0.73, a current ratio of 0.74 and a debt-to-equity ratio of 0.09.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.69 earnings per share for the quarter. The business had revenue of $250.50 million during the quarter. First Interstate BancSystem had a return on equity of 7.25% and a net margin of 17.62%. On average, equities analysts predict that First Interstate BancSystem will post 2.53 EPS for the current year.

Insider Activity

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 30,432 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $31.03, for a total value of $944,304.96. Following the completion of the transaction, the director owned 1,414,636 shares in the company, valued at $43,896,155.08. This represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Susan Scott Heyneman Trust, Su sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $32.75, for a total value of $327,500.00. Following the transaction, the insider directly owned 224,460 shares in the company, valued at approximately $7,351,065. The trade was a 4.27% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 92,232 shares of company stock worth $2,913,388. Corporate insiders own 8.20% of the company’s stock.

Institutional Trading of First Interstate BancSystem

A number of large investors have recently made changes to their positions in the company. First Horizon Corp purchased a new position in First Interstate BancSystem during the 3rd quarter worth approximately $26,000. GAMMA Investing LLC boosted its holdings in shares of First Interstate BancSystem by 186.5% in the second quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 647 shares during the period. Quarry LP grew its position in shares of First Interstate BancSystem by 63.8% during the first quarter. Quarry LP now owns 1,155 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 450 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of First Interstate BancSystem by 139.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 862 shares during the period. Finally, Jones Financial Companies Lllp raised its position in First Interstate BancSystem by 1,485.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,601 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 1,500 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 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.