Brokerages expect that First Interstate Bancsystem Inc (NASDAQ:FIBK) will post earnings per share (EPS) of $0.69 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for First Interstate Bancsystem’s earnings. The lowest EPS estimate is $0.67 and the highest is $0.72. First Interstate Bancsystem reported earnings per share of $0.52 in the same quarter last year, which indicates a positive year-over-year growth rate of 32.7%. The company is expected to issue its next earnings report on Tuesday, April 24th.
On average, analysts expect that First Interstate Bancsystem will report full-year earnings of $2.97 per share for the current fiscal year, with EPS estimates ranging from $2.80 to $3.05. For the next fiscal year, analysts forecast that the firm will report earnings of $3.14 per share, with EPS estimates ranging from $2.90 to $3.25. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover First Interstate Bancsystem.
First Interstate Bancsystem (NASDAQ:FIBK) last posted its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.08). First Interstate Bancsystem had a net margin of 20.50% and a return on equity of 9.10%. The company had revenue of $138.03 million during the quarter, compared to the consensus estimate of $138.00 million.
FIBK has been the subject of several research analyst reports. Piper Jaffray Companies reaffirmed a “buy” rating on shares of First Interstate Bancsystem in a research note on Wednesday, January 31st. Zacks Investment Research downgraded shares of First Interstate Bancsystem from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. Barclays boosted their target price on shares of First Interstate Bancsystem from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $45.00 target price on shares of First Interstate Bancsystem in a research report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $44.75.
In other First Interstate Bancsystem news, CEO Kevin P. Riley bought 800 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was bought at an average cost of $41.34 per share, with a total value of $33,072.00. Following the completion of the transaction, the chief executive officer now directly owns 28,349 shares in the company, valued at approximately $1,171,947.66. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Scott, Jr. sold 6,100 shares of the business’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $40.07, for a total transaction of $244,427.00. Following the sale, the director now directly owns 23,412 shares of the company’s stock, valued at $938,118.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 269,050 shares of company stock valued at $10,643,897. 38.22% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB bought a new stake in shares of First Interstate Bancsystem during the fourth quarter worth about $217,000. MetLife Investment Advisors LLC purchased a new position in First Interstate Bancsystem during the fourth quarter worth about $469,000. Macquarie Group Ltd. boosted its holdings in First Interstate Bancsystem by 14.4% during the fourth quarter. Macquarie Group Ltd. now owns 2,156,397 shares of the financial services provider’s stock worth $86,364,000 after purchasing an additional 271,054 shares during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in First Interstate Bancsystem by 8.0% during the fourth quarter. TIAA CREF Investment Management LLC now owns 176,575 shares of the financial services provider’s stock worth $7,072,000 after purchasing an additional 13,120 shares during the last quarter. Finally, Teachers Advisors LLC boosted its holdings in First Interstate Bancsystem by 591.1% during the fourth quarter. Teachers Advisors LLC now owns 394,064 shares of the financial services provider’s stock worth $15,782,000 after purchasing an additional 337,043 shares during the last quarter. 46.08% of the stock is owned by institutional investors.
FIBK stock traded down $0.10 on Friday, reaching $40.85. 20,022 shares of the company’s stock traded hands, compared to its average volume of 168,627. First Interstate Bancsystem has a 12-month low of $33.33 and a 12-month high of $42.90. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $2,330.09, a P/E ratio of 19.98, a P/E/G ratio of 1.55 and a beta of 1.12.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Monday, February 12th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, February 9th. This is an increase from First Interstate Bancsystem’s previous quarterly dividend of $0.24. This represents a $1.12 annualized dividend and a dividend yield of 2.74%. First Interstate Bancsystem’s payout ratio is presently 54.63%.
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About First Interstate Bancsystem
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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