First Interstate BancSystem (NASDAQ:FIBK) Stock Rating Lowered by Barclays

First Interstate BancSystem (NASDAQ:FIBK) was downgraded by research analysts at Barclays from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Thursday, FinViz reports. They presently have a $30.00 target price on the financial services provider’s stock, down from their previous target price of $32.00. Barclays‘s price objective would indicate a potential downside of 5.09% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods boosted their price target on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Wells Fargo & Company downgraded shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $30.00 to $28.00 in a report on Tuesday, October 1st. Piper Sandler reduced their price objective on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Monday. DA Davidson upped their price objective on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, StockNews.com downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $32.50.

First Interstate BancSystem Stock Up 0.6 %

FIBK stock opened at $31.61 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.79 and a quick ratio of 0.79. First Interstate BancSystem has a 1-year low of $22.74 and a 1-year high of $33.00. The firm has a fifty day moving average price of $30.60 and a two-hundred day moving average price of $28.76. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 12.59 and a beta of 0.81.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 17.22% and a return on equity of 8.19%. During the same quarter last year, the company posted $0.70 EPS. Research analysts predict that First Interstate BancSystem will post 2.34 EPS for the current year.

Institutional Trading of First Interstate BancSystem

Several institutional investors and hedge funds have recently bought and sold shares of the stock. TNF LLC raised its holdings in First Interstate BancSystem by 1.5% during the 3rd quarter. TNF LLC now owns 25,376 shares of the financial services provider’s stock worth $812,000 after buying an additional 367 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of First Interstate BancSystem by 20.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 12,874 shares of the financial services provider’s stock valued at $395,000 after purchasing an additional 2,169 shares during the period. Mount Yale Investment Advisors LLC acquired a new position in shares of First Interstate BancSystem in the 3rd quarter valued at about $311,000. Hennion & Walsh Asset Management Inc. increased its holdings in shares of First Interstate BancSystem by 5.3% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 10,136 shares of the financial services provider’s stock valued at $311,000 after purchasing an additional 507 shares during the period. Finally, Altus Wealth Group LLC increased its holdings in shares of First Interstate BancSystem by 21.4% in the 3rd quarter. Altus Wealth Group LLC now owns 24,512 shares of the financial services provider’s stock valued at $752,000 after purchasing an additional 4,316 shares during the period. Institutional investors and hedge funds 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.