First Interstate Bancsystem Inc (NASDAQ:FIBK) – Stock analysts at FIG Partners cut their Q3 2019 earnings per share estimates for First Interstate Bancsystem in a research report issued to clients and investors on Monday, October 29th. FIG Partners analyst T. Coffey now anticipates that the financial services provider will earn $0.84 per share for the quarter, down from their previous estimate of $0.86. FIG Partners also issued estimates for First Interstate Bancsystem’s FY2019 earnings at $3.25 EPS.
Other analysts have also recently issued reports about the company. BidaskClub raised First Interstate Bancsystem from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 7th. Zacks Investment Research cut First Interstate Bancsystem from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Barclays reissued a “buy” rating and set a $48.00 target price on shares of First Interstate Bancsystem in a research note on Sunday, July 29th. DA Davidson increased their target price on First Interstate Bancsystem from $47.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, October 12th. Finally, Robert W. Baird assumed coverage on First Interstate Bancsystem in a research note on Tuesday, October 16th. They set an “outperform” rating and a $52.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $48.33.
Shares of FIBK stock opened at $42.11 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market capitalization of $2.35 billion, a PE ratio of 15.13, a P/E/G ratio of 1.57 and a beta of 1.10. First Interstate Bancsystem has a one year low of $36.00 and a one year high of $47.05.
First Interstate Bancsystem (NASDAQ:FIBK) last announced its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.04). The company had revenue of $146.20 million during the quarter, compared to the consensus estimate of $144.93 million. First Interstate Bancsystem had a net margin of 23.86% and a return on equity of 10.88%.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Friday, November 9th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.12 dividend on an annualized basis and a yield of 2.66%. First Interstate Bancsystem’s payout ratio is 55.72%.
In related news, Director John M. Heyneman, Jr. sold 1,000 shares of the stock in a transaction that occurred on Wednesday, December 12th. The stock was sold at an average price of $41.87, for a total transaction of $41,870.00. Following the completion of the sale, the director now directly owns 3,621 shares of the company’s stock, valued at approximately $151,611.27. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kevin P. Riley bought 975 shares of the stock in a transaction that occurred on Wednesday, October 31st. The shares were acquired at an average cost of $41.78 per share, with a total value of $40,735.50. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 7,000 shares of company stock valued at $300,210. 40.23% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in shares of First Interstate Bancsystem by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 10,521 shares of the financial services provider’s stock worth $444,000 after acquiring an additional 1,445 shares in the last quarter. Barclays PLC grew its stake in shares of First Interstate Bancsystem by 25.7% during the 1st quarter. Barclays PLC now owns 8,678 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 1,777 shares in the last quarter. Suntrust Banks Inc. grew its stake in shares of First Interstate Bancsystem by 4.9% during the 1st quarter. Suntrust Banks Inc. now owns 47,379 shares of the financial services provider’s stock worth $1,873,000 after acquiring an additional 2,200 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of First Interstate Bancsystem by 40.5% during the 1st quarter. Xact Kapitalforvaltning AB now owns 7,630 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its stake in shares of First Interstate Bancsystem by 31.8% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 10,790 shares of the financial services provider’s stock worth $455,000 after acquiring an additional 2,605 shares in the last quarter. 50.32% of the stock is owned by 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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