Wells Fargo & Company Increases First Interstate BancSystem (NASDAQ:FIBK) Price Target to $30.00

First Interstate BancSystem (NASDAQ:FIBK) had its price target upped by stock analysts at Wells Fargo & Company from $29.00 to $30.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential downside of 7.52% from the company’s previous close.

Several other brokerages also recently issued reports on FIBK. DA Davidson reaffirmed a “buy” rating and set a $42.00 price target on shares of First Interstate BancSystem in a report on Thursday, January 30th. Stephens reduced their target price on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Barclays increased their price target on shares of First Interstate BancSystem from $30.00 to $31.00 and gave the company an “underweight” rating in a report on Thursday, December 5th. Keefe, Bruyette & Woods boosted their price objective on First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Tuesday, December 24th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.14.

First Interstate BancSystem Stock Up 2.2 %

First Interstate BancSystem stock opened at $32.44 on Monday. 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’s 50-day moving average is $32.97 and its 200-day moving average is $31.62. The firm has a market capitalization of $3.39 billion, a PE ratio of 14.81 and a beta of 0.85. First Interstate BancSystem has a fifty-two week low of $24.16 and a fifty-two week high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. Sell-side analysts anticipate that First Interstate BancSystem will post 2.54 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Jonathan R. Scott sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total transaction of $222,170.00. Following the completion of the sale, the director now owns 958,710 shares of the company’s stock, valued at approximately $32,768,707.80. This represents a 0.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of First Interstate BancSystem stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $34.50, for a total transaction of $209,311.50. Following the completion of the transaction, the insider now directly owns 75,387 shares in the company, valued at $2,600,851.50. This trade represents a 7.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,837 shares of company stock valued at $1,839,583 over the last 90 days. 6.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Interstate BancSystem

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 DIFC Ltd acquired a new stake in First Interstate BancSystem in the third quarter valued at approximately $34,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of First Interstate BancSystem in the 3rd quarter valued at $69,000. KBC Group NV boosted its holdings in shares of First Interstate BancSystem by 34.1% during the 4th quarter. KBC Group NV now owns 4,018 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 1,022 shares in the last quarter. CWM LLC grew its position in First Interstate BancSystem by 65.0% during the 3rd quarter. CWM LLC now owns 5,152 shares of the financial services provider’s stock worth $158,000 after acquiring an additional 2,029 shares during the last quarter. Finally, Telos Capital Management Inc. acquired a new position in First Interstate BancSystem in the 3rd quarter worth about $201,000. 88.71% of the stock is owned by institutional investors.

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.