Keefe, Bruyette & Woods Boosts First Interstate BancSystem (NASDAQ:FIBK) Price Target to $29.00

First Interstate BancSystem (NASDAQ:FIBK) had its price objective boosted by stock analysts at Keefe, Bruyette & Woods from $28.00 to $29.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 6.34% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on FIBK. Stephens reaffirmed an “overweight” rating and set a $32.00 target price on shares of First Interstate BancSystem in a research report on Thursday. TheStreet cut First Interstate BancSystem from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. Barclays started coverage on First Interstate BancSystem in a research report on Friday, March 8th. They issued an “equal weight” rating and a $28.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on First Interstate BancSystem from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, First Interstate BancSystem currently has an average rating of “Hold” and a consensus price target of $29.20.

First Interstate BancSystem Stock Up 1.2 %

Shares of FIBK traded up $0.32 during trading hours on Friday, reaching $27.27. The company’s stock had a trading volume of 79,743 shares, compared to its average volume of 825,060. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 10.86 and a beta of 0.87. First Interstate BancSystem has a 1-year low of $20.81 and a 1-year high of $32.54. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average of $26.08 and a two-hundred day moving average of $26.66.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. The business had revenue of $252.30 million during the quarter, compared to analysts’ expectations of $254.50 million. First Interstate BancSystem had a return on equity of 8.55% and a net margin of 18.04%. As a group, research analysts predict that First Interstate BancSystem will post 2.17 EPS for the current fiscal year.

Insider Activity at First Interstate BancSystem

In related news, EVP Kristina Robbins sold 2,710 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $25.83, for a total value of $69,999.30. Following the completion of the transaction, the executive vice president now directly owns 9,047 shares in the company, valued at $233,684.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other First Interstate BancSystem news, EVP Karlyn M. Knieriem sold 2,900 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $26.76, for a total transaction of $77,604.00. Following the completion of the transaction, the executive vice president now directly owns 20,599 shares in the company, valued at $551,229.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kristina Robbins sold 2,710 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $25.83, for a total value of $69,999.30. Following the transaction, the executive vice president now owns 9,047 shares of the company’s stock, valued at $233,684.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,531 shares of company stock worth $197,645. 6.90% of the stock is owned by corporate insiders.

Institutional Trading of First Interstate BancSystem

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of First Interstate BancSystem by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 9,180,595 shares of the financial services provider’s stock valued at $282,303,000 after buying an additional 533,293 shares in the last quarter. FMR LLC increased its stake in shares of First Interstate BancSystem by 0.4% in the third quarter. FMR LLC now owns 6,451,758 shares of the financial services provider’s stock valued at $160,907,000 after buying an additional 28,343 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of First Interstate BancSystem by 36.2% in the fourth quarter. Franklin Resources Inc. now owns 5,453,783 shares of the financial services provider’s stock valued at $167,704,000 after buying an additional 1,449,219 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of First Interstate BancSystem by 20.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,590,707 shares of the financial services provider’s stock valued at $110,418,000 after buying an additional 620,682 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of First Interstate BancSystem by 5.0% in the fourth quarter. Wellington Management Group LLP now owns 2,970,727 shares of the financial services provider’s stock valued at $91,350,000 after buying an additional 142,069 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.