Wall Street brokerages expect First Interstate Bancsystem Inc (NASDAQ:FIBK) to report earnings of $0.79 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for First Interstate Bancsystem’s earnings, with the lowest EPS estimate coming in at $0.76 and the highest estimate coming in at $0.82. First Interstate Bancsystem posted earnings of $0.76 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.9%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, January 29th.
On average, analysts expect that First Interstate Bancsystem will report full-year earnings of $2.82 per share for the current financial year, with EPS estimates ranging from $2.79 to $2.84. For the next financial year, analysts forecast that the company will report earnings of $3.06 per share, with EPS estimates ranging from $3.02 to $3.10. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for First Interstate Bancsystem.
First Interstate Bancsystem (NASDAQ:FIBK) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $0.76 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.03). The business had revenue of $166.30 million during the quarter, compared to the consensus estimate of $167.38 million. First Interstate Bancsystem had a return on equity of 10.21% and a net margin of 24.33%.
A number of equities research analysts have issued reports on FIBK shares. Zacks Investment Research upgraded First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research note on Tuesday, October 8th. ValuEngine upgraded First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, BidaskClub downgraded First Interstate Bancsystem from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $42.48.
First Interstate Bancsystem stock opened at $42.10 on Thursday. The business has a 50-day simple moving average of $42.28 and a two-hundred day simple moving average of $39.88. The company has a market cap of $2.77 billion, a P/E ratio of 14.16, a P/E/G ratio of 1.74 and a beta of 1.18. First Interstate Bancsystem has a 52-week low of $34.61 and a 52-week high of $43.97. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.05.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Saturday, November 9th were given a dividend of $0.31 per share. This is a boost from First Interstate Bancsystem’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, November 7th. This represents a $1.24 annualized dividend and a yield of 2.95%. First Interstate Bancsystem’s payout ratio is presently 42.47%.
In other First Interstate Bancsystem news, Director Ross E. Leckie sold 1,219 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $39.27, for a total value of $47,870.13. Following the transaction, the director now owns 17,027 shares of the company’s stock, valued at $668,650.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Scott, Jr. sold 3,778 shares of First Interstate Bancsystem stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.63, for a total value of $164,834.14. Following the sale, the director now directly owns 44,543 shares in the company, valued at approximately $1,943,411.09. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,015 shares of company stock worth $420,932. Corporate insiders own 24.93% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. acquired a new stake in shares of First Interstate Bancsystem in the 2nd quarter valued at $83,000. Baker Ellis Asset Management LLC acquired a new stake in shares of First Interstate Bancsystem in the 2nd quarter valued at $135,000. Bank of Montreal Can lifted its position in First Interstate Bancsystem by 191.2% during the 2nd quarter. Bank of Montreal Can now owns 4,744 shares of the financial services provider’s stock worth $188,000 after acquiring an additional 3,115 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in First Interstate Bancsystem by 94.3% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,051 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 2,451 shares during the last quarter. Finally, Pinkerton Retirement Specialists LLC acquired a new position in First Interstate Bancsystem during the 2nd quarter worth $204,000. 49.68% of the stock is owned by institutional investors and hedge funds.
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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