First Interstate Bancsystem Inc (FIBK) Expected to Announce Quarterly Sales of $144.07 Million

Equities analysts predict that First Interstate Bancsystem Inc (NASDAQ:FIBK) will report $144.07 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for First Interstate Bancsystem’s earnings, with estimates ranging from $141.03 million to $148.63 million. First Interstate Bancsystem reported sales of $139.07 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.6%. The company is expected to issue its next earnings report after the market closes on Wednesday, October 24th.

According to Zacks, analysts expect that First Interstate Bancsystem will report full-year sales of $576.43 million for the current year, with estimates ranging from $571.82 million to $581.35 million. For the next financial year, analysts forecast that the company will report sales of $641.02 million, with estimates ranging from $636.00 million to $646.46 million. Zacks’ sales 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 announced its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. First Interstate Bancsystem had a return on equity of 10.35% and a net margin of 23.86%. The business had revenue of $141.40 million during the quarter, compared to the consensus estimate of $139.12 million.

Several equities research analysts have issued reports on FIBK shares. BidaskClub downgraded First Interstate Bancsystem from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. Barclays reaffirmed a “buy” rating and set a $48.00 price target on shares of First Interstate Bancsystem in a report on Sunday, July 29th. Finally, Zacks Investment Research raised First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $47.00.

In other news, Director Ross E. Leckie sold 4,000 shares of First Interstate Bancsystem stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $45.91, for a total transaction of $183,640.00. Following the completion of the sale, the director now owns 17,599 shares of the company’s stock, valued at $807,970.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John M. Heyneman, Jr. sold 2,000 shares of First Interstate Bancsystem stock in a transaction on Sunday, November 25th. The stock was sold at an average price of $37.35, for a total value of $74,700.00. Following the sale, the director now directly owns 3,621 shares of the company’s stock, valued at approximately $135,244.35. The disclosure for this sale can be found here. Insiders have sold 7,000 shares of company stock valued at $300,210 in the last three months. Insiders own 40.23% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Macquarie Group Ltd. lifted its holdings in shares of First Interstate Bancsystem by 9.7% during the second quarter. Macquarie Group Ltd. now owns 2,740,156 shares of the financial services provider’s stock worth $115,634,000 after buying an additional 241,717 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of First Interstate Bancsystem by 3.6% during the second quarter. Bank of New York Mellon Corp now owns 2,525,997 shares of the financial services provider’s stock worth $106,597,000 after buying an additional 87,106 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of First Interstate Bancsystem by 22.5% during the second quarter. BlackRock Inc. now owns 2,055,836 shares of the financial services provider’s stock worth $86,756,000 after buying an additional 377,376 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of First Interstate Bancsystem by 17.5% during the second quarter. Millennium Management LLC now owns 1,087,515 shares of the financial services provider’s stock worth $45,893,000 after buying an additional 161,679 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of First Interstate Bancsystem by 14.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 532,227 shares of the financial services provider’s stock worth $22,460,000 after buying an additional 68,075 shares in the last quarter. 49.94% of the stock is owned by institutional investors.

Shares of First Interstate Bancsystem stock opened at $43.20 on Friday. First Interstate Bancsystem has a 1 year low of $36.00 and a 1 year high of $47.05. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 1.67 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.79 and a quick ratio of 0.79.

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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