Barclays Issues Pessimistic Forecast for First Interstate BancSystem (NASDAQ:FIBK) Stock Price

First Interstate BancSystem (NASDAQ:FIBK) had its target price reduced by stock analysts at Barclays from $31.00 to $28.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Barclays‘s target price would suggest a potential upside of 18.02% from the company’s current price.

Several other brokerages have also recently issued reports on FIBK. Wells Fargo & Company lifted their price target on First Interstate BancSystem from $29.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, February 3rd. Piper Sandler dropped their price target on shares of First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. UBS Group assumed coverage on shares of First Interstate BancSystem in a research report on Tuesday, December 17th. They set a “neutral” rating and a $35.00 price objective for the company. Stephens dropped their target price on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, DA Davidson reissued a “buy” rating and set a $42.00 target price on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, First Interstate BancSystem has an average rating of “Hold” and a consensus price target of $35.71.

First Interstate BancSystem Stock Performance

Shares of NASDAQ FIBK traded down $0.78 during midday trading on Tuesday, hitting $23.73. 717,130 shares of the company’s stock were exchanged, compared to its average volume of 620,500. First Interstate BancSystem has a twelve month low of $23.42 and a twelve month high of $36.77. The firm has a market cap of $2.48 billion, a P/E ratio of 10.83 and a beta of 0.81. The stock’s 50 day moving average price is $30.21 and its 200-day moving average price is $31.58. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts anticipate that First Interstate BancSystem will post 2.53 EPS for the current year.

Insiders Place Their Bets

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of First Interstate BancSystem stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $32.56, for a total transaction of $43,467.60. Following the transaction, the director now owns 1,414,886 shares of the company’s stock, valued at $46,068,688.16. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 stock. Wood Tarver Financial Group LLC purchased a new stake in First Interstate BancSystem in the 4th quarter worth approximately $26,000. Point72 DIFC Ltd purchased a new stake in shares of First Interstate BancSystem during the third quarter worth $34,000. Meeder Asset Management Inc. acquired a new stake in First Interstate BancSystem during the fourth quarter valued at $69,000. Covestor Ltd grew its stake in First Interstate BancSystem by 25.8% in the fourth quarter. Covestor Ltd now owns 2,485 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 510 shares in the last quarter. Finally, Sterling Capital Management LLC increased its position 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 worth $81,000 after purchasing an additional 2,231 shares during 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.