First Interstate Bancsystem (FIBK) Price Target Increased to $50.00 by Analysts at DA Davidson

First Interstate Bancsystem (NASDAQ:FIBK) had its target price lifted by equities research analysts at DA Davidson from $47.00 to $50.00 in a research note issued to investors on Friday, Stock Target Advisor reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price target would suggest a potential upside of 15.74% from the stock’s current price.

Several other analysts have also commented on FIBK. BidaskClub lowered shares of First Interstate Bancsystem from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 30th. Zacks Investment Research lowered shares of First Interstate Bancsystem from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. Finally, Barclays reiterated a “buy” rating and issued a $48.00 price target on shares of First Interstate Bancsystem in a research report on Sunday, July 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $47.60.

FIBK stock opened at $43.20 on Friday. The company has a market capitalization of $2.54 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 1.67 and a beta of 1.10. First Interstate Bancsystem has a 12 month low of $36.00 and a 12 month high of $47.05. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.07.

First Interstate Bancsystem (NASDAQ:FIBK) last released its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. The business had revenue of $141.40 million for the quarter, compared to analyst estimates of $139.12 million. First Interstate Bancsystem had a net margin of 23.86% and a return on equity of 10.35%. Equities analysts anticipate that First Interstate Bancsystem will post 2.99 EPS for the current fiscal year.

In other news, Director Ross E. Leckie sold 4,000 shares of the firm’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $45.91, for a total value of $183,640.00. Following the transaction, the director now owns 17,599 shares of the company’s stock, valued at approximately $807,970.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John M. Heyneman, Jr. sold 2,000 shares of the firm’s stock in a transaction on Sunday, November 25th. The shares were sold at an average price of $37.35, for a total transaction of $74,700.00. Following the completion of the transaction, the director now directly owns 3,621 shares in the company, valued at approximately $135,244.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,000 shares of company stock worth $300,210. 40.23% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in First Interstate Bancsystem during the 1st quarter worth $107,000. Envestnet Asset Management Inc. increased its stake in First Interstate Bancsystem by 68.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,507 shares of the financial services provider’s stock worth $178,000 after buying an additional 1,829 shares during the period. Stifel Financial Corp purchased a new stake in First Interstate Bancsystem during the 1st quarter worth $223,000. Koch Industries Inc. purchased a new stake in First Interstate Bancsystem during the 1st quarter worth $233,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in First Interstate Bancsystem during the 1st quarter worth $301,000. 49.94% of the stock is currently owned by hedge funds and other institutional investors.

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. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.

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