First Interstate BancSystem (NASDAQ:FIBK) Shares Gap Down – Should You Sell?

First Interstate BancSystem, Inc. (NASDAQ:FIBK)’s share price gapped down prior to trading on Monday . The stock had previously closed at $38.22, but opened at $36.66. First Interstate BancSystem shares last traded at $36.6750, with a volume of 14,312 shares changing hands.

Wall Street Analyst Weigh In

FIBK has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their price target on First Interstate BancSystem from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Barclays boosted their price objective on shares of First Interstate BancSystem from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Friday, December 19th. UBS Group restated a “neutral” rating and set a $37.00 target price on shares of First Interstate BancSystem in a report on Tuesday, January 6th. Wall Street Zen cut shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of First Interstate BancSystem in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $37.29.

First Interstate BancSystem Stock Performance

The firm has a market cap of $3.77 billion, a PE ratio of 15.47 and a beta of 0.80. The stock has a 50-day moving average price of $35.29 and a 200 day moving average price of $32.68. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.74 and a quick ratio of 0.73.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.29. First Interstate BancSystem had a return on equity of 7.25% and a net margin of 17.62%.The firm had revenue of $205.10 million for the quarter, compared to analyst estimates of $256.89 million. During the same period last year, the company earned $0.50 EPS. The firm’s quarterly revenue was up 19.8% on a year-over-year basis. Research analysts forecast that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John M. Heyneman, Jr. sold 30,432 shares of the business’s stock in a transaction that occurred 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 sale, the director directly owned 1,414,636 shares in the company, valued at approximately $43,896,155.08. The trade was a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Susan Scott Heyneman Trust, Su sold 10,000 shares of First Interstate BancSystem stock in a transaction on Monday, December 1st. The shares were sold at an average price of $32.75, for a total transaction of $327,500.00. Following the completion of the transaction, the insider owned 224,460 shares in the company, valued at approximately $7,351,065. This trade represents a 4.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 60,232 shares of company stock valued at $1,914,116. Insiders own 8.20% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Several large investors have recently added to or reduced their stakes in FIBK. First Horizon Corp purchased a new stake in shares of First Interstate BancSystem in the third quarter worth about $26,000. GAMMA Investing LLC lifted its position in First Interstate BancSystem by 186.5% during the 2nd quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 647 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in 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 worth $43,000 after acquiring an additional 862 shares during the period. Jones Financial Companies Lllp boosted its holdings 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 worth $52,000 after acquiring an additional 1,500 shares during the period. Finally, CIBC Private Wealth Group LLC acquired a new stake in First Interstate BancSystem in the third quarter valued at approximately $52,000. 88.71% of the stock is currently owned by institutional investors and hedge funds.

About First Interstate BancSystem

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.