The interplay between institutional investment trends, analyst ratings, and insider trading activity is expected to shape the narrative surrounding First Interstate BancSystem in the coming months. This will make the bank a focal point for those interested in the dynamics of the financial market.
First Interstate BancSystem has recently seen significant activity from institutional investors, indicating a growing interest in the financial services provider. Notably, BNP Paribas Financial Markets increased its stake by 97.0% during the third quarter, while Jane Street Group LLC raised its holdings by 13.9%. These moves indicate a robust confidence among institutional players in the bank's potential. Dimensional Fund Advisors LP also increased its stake by 8.7% in the second quarter. Empower Advisory Group LLC and Versor Investments LP have also made notable adjustments to their positions. Collectively, institutional investors now own a substantial 88.71% of First Interstate BancSystem's stock.
The stock of First Interstate BancSystem has recently come under scrutiny from various analysts. UBS Group assigned a "neutral" rating, while Wells Fargo & Company raised its price target. Keefe, Bruyette & Woods also increased its target price. Analysts' sentiments are mixed, with two research analysts issuing sell ratings, three assigning hold ratings, and three recommending a buy. The consensus rating for First Interstate BancSystem currently stands at "Hold," with a target price averaging $35.17.
In midday trading, First Interstate BancSystem's stock experienced a decline of 1.6%. The company's market capitalization is approximately $3.53 billion, with a price-to-earnings (PE) ratio of 14.86. The bank's financial health is further illustrated by its debt-to-equity ratio of 0.71, alongside quick and current ratios both at 0.78. The latest quarterly earnings report revealed earnings per share (EPS) of $0.54.
Recent insider trading activity has also drawn attention, with major shareholders making notable sales. James R. Scott, Jr. and Julie A. Scott both sold shares, resulting in decreases in their holdings. Over the last three months, insiders have sold a total of 54,837 shares valued at nearly $1.84 million.
Looking ahead, analysts project that First Interstate BancSystem will post an EPS of 2.28 for the current year. The bank's ability to navigate the current economic landscape, coupled with the strategic moves by institutional investors, will be critical in determining its future trajectory.