First Interstate BancSystem (NASDAQ:FIBK) PT Raised to $32.00

First Interstate BancSystem (NASDAQ:FIBK) had its target price increased by analysts at Barclays from $31.00 to $32.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target would suggest a potential upside of 5.37% from the stock’s previous close.

A number of other analysts have also recently weighed in on FIBK. DA Davidson increased their price objective on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods lifted their price target on First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Piper Sandler reissued an “overweight” rating and issued a $38.00 price objective on shares of First Interstate BancSystem in a report on Monday, August 26th. StockNews.com downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Friday, September 20th. Finally, Wells Fargo & Company increased their price target on First Interstate BancSystem from $25.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $33.50.

First Interstate BancSystem Stock Performance

Shares of FIBK stock opened at $30.37 on Friday. The company has a market cap of $3.18 billion, a P/E ratio of 12.10 and a beta of 0.82. The business has a 50 day moving average of $30.05 and a two-hundred day moving average of $27.96. First Interstate BancSystem has a 52 week low of $20.81 and a 52 week high of $33.00. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.92.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. First Interstate BancSystem had a return on equity of 8.19% and a net margin of 17.22%. The business had revenue of $244.30 million during the quarter, compared to analyst estimates of $246.07 million. During the same quarter in the previous year, the firm posted $0.66 EPS. As a group, analysts anticipate that First Interstate BancSystem will post 2.34 EPS for the current year.

Institutional Trading of First Interstate BancSystem

Several institutional investors have recently modified their holdings of FIBK. Creative Planning raised its position in First Interstate BancSystem by 11.6% in the second quarter. Creative Planning now owns 24,415 shares of the financial services provider’s stock worth $678,000 after acquiring an additional 2,545 shares in the last quarter. Algert Global LLC bought a new stake in shares of First Interstate BancSystem in the 2nd quarter worth approximately $261,000. The Manufacturers Life Insurance Company raised its holdings in shares of First Interstate BancSystem by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,348 shares of the financial services provider’s stock worth $1,370,000 after purchasing an additional 598 shares in the last quarter. Dark Forest Capital Management LP lifted its stake in First Interstate BancSystem by 28.5% during the second quarter. Dark Forest Capital Management LP now owns 48,166 shares of the financial services provider’s stock valued at $1,338,000 after purchasing an additional 10,669 shares during the last quarter. Finally, AQR Capital Management LLC bought a new stake in First Interstate BancSystem during the second quarter worth approximately $242,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

About First Interstate BancSystem

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.