Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. First Interstate BancSystem Inc. shares valued at $77,604 were sold by KNIERIEM KARLYN M on Mar 07 ’24. At $26.76 per share, KNIERIEM KARLYN M sold 2,900 shares. The insider’s holdings dropped to 20,599 shares worth approximately $0.55 million following the completion of this transaction.
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Also, Asker Lorrie F sold 1,921 shares, netting a total of over 50,042 in proceeds. Following the sale of shares at $26.05 each, the insider now holds 6,909 shares.
Before that, Robbins Kristina had sold 2,710 shares from its account. In a trade valued at $69,999, the EVP, Chief Operations Officer traded First Interstate BancSystem Inc. shares for $25.83 each. Upon closing the transaction, the insider’s holdings decreased to 2,710 shares, worth approximately $0.24 million.
As published in their initiating research note from Barclays on March 08, 2024, First Interstate BancSystem Inc. [FIBK] has been an Equal weight and the price target has been revised to $28. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in early October. As of March 15, 2023, UBS has initiated its “Neutral” rating for FIBK. Earlier on February 01, 2023, Stephens upgraded its rating. Their new recommendation was “an Overweight” for FIBK stock which previously was a “an Equal-weight”.
Analyzing FIBK Stock Performance
During the last five days, there has been a surge of approximately 6.12%. Over the course of the year, First Interstate BancSystem Inc. shares have dropped approximately -13.66%. Shares of the company reached a 52-week high of $31.44 on 01/02/24 and a 52-week low of $24.49 on 02/13/24. A 50-day SMA is recorded $26.99, while a 200-day SMA reached $26.29. Nevertheless, trading volume fell to 0.92 million shares from 0.91 million shares the previous day.
Support And Resistance Levels for First Interstate BancSystem Inc. (FIBK)
According to the 24-hour chart, there is a support level at 26.25, which, if violated, would cause prices to drop to 25.96. In the upper region, resistance lies at 26.81. The next price resistance is at 27.08. RSI (Relative Strength Index) is 52.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.19, which suggests the price will decrease in the coming days. Percent R is at 38.65%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is First Interstate BancSystem Inc. subject to short interest?
Stocks of First Interstate BancSystem Inc. saw a sharp steep in short interest on Feb 29, 2024 dropping by -0.36 million shares to 2.28 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 2.64 million shares. A decline of -15.79% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.38 of the overall float, the days-to-cover ratio (short ratio) decline to 2.38.
