Wall Street analysts expect that First Interstate Bancsystem Inc (NASDAQ:FIBK) will report sales of $138.00 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for First Interstate Bancsystem’s earnings, with the lowest sales estimate coming in at $137.79 million and the highest estimate coming in at $138.22 million. First Interstate Bancsystem posted sales of $108.42 million in the same quarter last year, which would indicate a positive year over year growth rate of 27.3%. The company is expected to announce its next quarterly earnings report after the market closes on Tuesday, January 30th.
On average, analysts expect that First Interstate Bancsystem will report full year sales of $138.00 million for the current fiscal year, with estimates ranging from $488.50 million to $491.79 million. For the next year, analysts anticipate that the company will post sales of $562.09 million per share, with estimates ranging from $550.80 million to $572.76 million. Zacks’ sales averages are an average based on a survey of research firms that cover First Interstate Bancsystem.
First Interstate Bancsystem (NASDAQ:FIBK) last released its earnings results on Monday, October 30th. The financial services provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. First Interstate Bancsystem had a net margin of 19.90% and a return on equity of 9.40%.
A number of research analysts recently weighed in on FIBK shares. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $45.00 target price on shares of First Interstate Bancsystem in a report on Friday, December 22nd. Barclays boosted their target price on shares of First Interstate Bancsystem from $43.00 to $47.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Zacks Investment Research raised shares of First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $44.75.
In other news, major shareholder Homer A. Scott, Jr. sold 10,100 shares of the company’s stock in a transaction that occurred on Saturday, November 4th. The stock was sold at an average price of $28.46, for a total transaction of $287,446.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan R. Scott sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $37.33, for a total value of $933,250.00. Following the transaction, the director now directly owns 5,556 shares of the company’s stock, valued at $207,405.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 114,525 shares of company stock worth $4,240,874. Insiders own 38.22% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of First Interstate Bancsystem during the 3rd quarter worth approximately $105,000. BNP Paribas Arbitrage SA raised its stake in shares of First Interstate Bancsystem by 622.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,970 shares of the financial services provider’s stock worth $110,000 after buying an additional 2,559 shares during the period. Quantbot Technologies LP raised its stake in shares of First Interstate Bancsystem by 955.6% during the 2nd quarter. Quantbot Technologies LP now owns 3,019 shares of the financial services provider’s stock worth $112,000 after buying an additional 2,733 shares during the period. Brandywine Global Investment Management LLC acquired a new position in shares of First Interstate Bancsystem during the 2nd quarter worth approximately $142,000. Finally, Victory Capital Management Inc. raised its stake in shares of First Interstate Bancsystem by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,531 shares of the financial services provider’s stock worth $169,000 after buying an additional 680 shares during the period. 45.22% of the stock is owned by institutional investors and hedge funds.
First Interstate Bancsystem (NASDAQ:FIBK) traded up $0.40 during trading on Thursday, hitting $42.45. 131,838 shares of the stock traded hands, compared to its average volume of 175,175. The company has a market capitalization of $2,396.51, a PE ratio of 21.33, a P/E/G ratio of 1.74 and a beta of 1.18. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.79 and a current ratio of 0.79. First Interstate Bancsystem has a 52-week low of $33.33 and a 52-week high of $45.35.
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First Interstate Bancsystem Company Profile
First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.
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