First Interstate BancSystem (NASDAQ:FIBK) Given New $30.00 Price Target at Wells Fargo & Company

First Interstate BancSystem (NASDAQ:FIBK) had its price objective boosted by stock analysts at Wells Fargo & Company from $28.00 to $30.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 13.49% from the company’s current price.

Several other research analysts also recently issued reports on FIBK. Barclays downgraded shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $32.00 to $30.00 in a report on Thursday, October 31st. Piper Sandler cut their price target on First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Stephens reaffirmed an “overweight” rating and set a $36.00 target price on shares of First Interstate BancSystem in a report on Thursday, October 10th. DA Davidson raised First Interstate BancSystem from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $32.00 to $42.00 in a research note on Tuesday, November 26th. Finally, StockNews.com upgraded First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $34.17.

First Interstate BancSystem Trading Down 0.7 %

First Interstate BancSystem stock traded down $0.23 during mid-day trading on Tuesday, hitting $34.68. The company’s stock had a trading volume of 16,777 shares, compared to its average volume of 671,044. The firm has a market capitalization of $3.63 billion, a PE ratio of 15.31 and a beta of 0.84. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem has a 1 year low of $24.16 and a 1 year high of $36.77. The stock’s fifty day moving average is $32.02 and its two-hundred day moving average is $29.85.

First Interstate BancSystem (NASDAQ:FIBK) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%. During the same period in the previous year, the business posted $0.70 earnings per share. On average, analysts anticipate that First Interstate BancSystem will post 2.28 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder James R. Scott, Jr. sold 6,067 shares of First Interstate BancSystem stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $34.50, for a total value of $209,311.50. Following the transaction, the insider now directly owns 75,387 shares of the company’s stock, valued at $2,600,851.50. The trade was a 7.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Julie A. Scott sold 20,220 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $32.78, for a total value of $662,811.60. Following the completion of the sale, the insider now owns 635,069 shares of the company’s stock, valued at $20,817,561.82. This trade represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,837 shares of company stock worth $1,839,583 in the last 90 days. Insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Point72 DIFC Ltd bought a new position in First Interstate BancSystem in the 3rd quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of First Interstate BancSystem in the 3rd quarter valued at $69,000. CWM LLC grew its position in shares of First Interstate BancSystem by 16.0% in the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock valued at $87,000 after buying an additional 430 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of First Interstate BancSystem during the 2nd quarter valued at about $106,000. Finally, nVerses Capital LLC raised its stake in shares of First Interstate BancSystem by 412.5% in the second quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 3,300 shares during the last quarter. 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.