Barclays Lowers First Interstate BancSystem (NASDAQ:FIBK) Price Target to $28.00

First Interstate BancSystem (NASDAQ:FIBK) had its target price decreased by equities research analysts at Barclays from $31.00 to $28.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the financial services provider’s stock. Barclays‘s target price would indicate a potential upside of 18.02% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. Piper Sandler lowered their target price on shares of First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company upped their price target on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the company an “underweight” rating in a report on Monday, February 3rd. DA Davidson reiterated a “buy” rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Stephens decreased their target price on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, StockNews.com raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, First Interstate BancSystem currently has a consensus rating of “Hold” and a consensus target price of $35.71.

First Interstate BancSystem Stock Down 3.2 %

NASDAQ:FIBK traded down $0.78 during trading hours on Tuesday, reaching $23.73. The company’s stock had a trading volume of 717,130 shares, compared to its average volume of 620,500. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 10.83 and a beta of 0.81. First Interstate BancSystem has a one year low of $23.42 and a one year high of $36.77. The business’s 50-day moving average is $30.21 and its 200-day moving average is $31.58.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. Equities research analysts predict that First Interstate BancSystem will post 2.53 EPS for the current year.

Insiders Place Their Bets

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $32.56, for a total value of $43,467.60. Following the completion of the transaction, the director now owns 1,414,886 shares in the company, valued at approximately $46,068,688.16. This represents a 0.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.90% of the company’s stock.

Institutional Trading of First Interstate BancSystem

Several institutional investors have recently made changes to their positions in the business. Wood Tarver Financial Group LLC bought a new position in First Interstate BancSystem during the fourth quarter worth about $26,000. Point72 DIFC Ltd acquired a new position in shares of First Interstate BancSystem in the 3rd quarter worth approximately $34,000. Meeder Asset Management Inc. acquired a new position in shares of First Interstate BancSystem in the 4th quarter worth approximately $69,000. Covestor Ltd lifted its position in shares of First Interstate BancSystem by 25.8% during the 4th quarter. Covestor Ltd now owns 2,485 shares of the financial services provider’s stock worth $81,000 after buying an additional 510 shares during the period. Finally, Sterling Capital Management LLC boosted its stake in First Interstate BancSystem by 826.3% in the 4th quarter. Sterling Capital Management LLC now owns 2,501 shares of the financial services provider’s stock valued at $81,000 after buying an additional 2,231 shares in the last quarter. 88.71% of the stock is currently 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.