First Interstate BancSystem (FIBK) Expected to Announce Earnings of $0.74 Per Share

Brokerages forecast that First Interstate BancSystem (NASDAQ:FIBK) will report earnings per share (EPS) of $0.74 for the current quarter, Zacks reports. Four analysts have issued estimates for First Interstate BancSystem’s earnings, with the lowest EPS estimate coming in at $0.72 and the highest estimate coming in at $0.74. First Interstate BancSystem posted earnings per share of $0.59 in the same quarter last year, which indicates a positive year over year growth rate of 25.4%. The company is expected to issue its next quarterly earnings results on Wednesday, July 25th.

According to Zacks, analysts expect that First Interstate BancSystem will report full year earnings of $2.89 per share for the current financial year, with EPS estimates ranging from $2.80 to $2.98. For the next fiscal year, analysts forecast that the company will post earnings of $3.21 per share, with EPS estimates ranging from $2.95 to $3.30. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover First Interstate BancSystem.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Wednesday, April 25th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.68. First Interstate BancSystem had a net margin of 21.49% and a return on equity of 9.50%. The business had revenue of $135.00 million for the quarter, compared to analyst estimates of $136.17 million.

A number of analysts have recently weighed in on FIBK shares. BidaskClub upgraded shares of First Interstate BancSystem from a “hold” rating to a “buy” rating in a research note on Thursday, April 26th. Sandler O’Neill reiterated a “buy” rating and issued a $46.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, March 29th. Zacks Investment Research lowered shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. FIG Partners upgraded shares of First Interstate BancSystem from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 26th. Finally, ValuEngine upgraded shares of First Interstate BancSystem from a “hold” rating to a “buy” rating in a research note on Tuesday, May 22nd. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. First Interstate BancSystem has an average rating of “Buy” and a consensus price target of $45.50.

Shares of First Interstate BancSystem stock opened at $43.15 on Tuesday. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 21.47, a P/E/G ratio of 1.63 and a beta of 1.13. First Interstate BancSystem has a 12-month low of $33.33 and a 12-month high of $44.95. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.07.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 24th. Investors of record on Monday, May 14th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend was Friday, May 11th. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 55.72%.

In related news, Director John M. Heyneman, Jr. sold 1,000 shares of the stock in a transaction on Wednesday, December 12th. The shares were sold at an average price of $41.87, for a total transaction of $41,870.00. Following the sale, the director now directly owns 3,621 shares of the company’s stock, valued at $151,611.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John M. Heyneman, Jr. sold 2,000 shares of the stock in a transaction on Sunday, November 25th. The stock was sold at an average price of $37.35, for a total transaction of $74,700.00. Following the sale, the director now directly owns 3,621 shares in the company, valued at $135,244.35. The disclosure for this sale can be found here. Insiders have sold 46,867 shares of company stock worth $1,996,912 over the last three months. 40.23% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. boosted its holdings in First Interstate BancSystem by 2.2% during the first quarter. American Century Companies Inc. now owns 64,335 shares of the financial services provider’s stock worth $2,544,000 after buying an additional 1,399 shares in the last quarter. Barclays PLC lifted its holdings in First Interstate BancSystem by 25.7% during the first quarter. Barclays PLC now owns 8,678 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 1,777 shares in the last quarter. LSV Asset Management lifted its holdings in First Interstate BancSystem by 0.3% during the first quarter. LSV Asset Management now owns 680,200 shares of the financial services provider’s stock valued at $26,901,000 after purchasing an additional 1,800 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in First Interstate BancSystem by 29.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 8,035 shares of the financial services provider’s stock valued at $322,000 after purchasing an additional 1,815 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in First Interstate BancSystem by 68.3% during the first quarter. Envestnet Asset Management Inc. now owns 4,507 shares of the financial services provider’s stock valued at $178,000 after purchasing an additional 1,829 shares in the last quarter. 46.60% of the stock is currently owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for First Interstate BancSystem (NASDAQ:FIBK)

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