Brokerages predict that First Interstate Bancsystem Inc (NASDAQ:FIBK) will post sales of $163.57 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for First Interstate Bancsystem’s earnings. The highest sales estimate is $166.99 million and the lowest is $160.70 million. First Interstate Bancsystem reported sales of $141.40 million in the same quarter last year, which would suggest a positive year over year growth rate of 15.7%. The business is expected to report its next quarterly earnings report on Wednesday, July 24th.
On average, analysts expect that First Interstate Bancsystem will report full year sales of $653.28 million for the current year, with estimates ranging from $649.00 million to $658.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $689.54 million, with estimates ranging from $679.00 million to $702.85 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover First Interstate Bancsystem.
First Interstate Bancsystem (NASDAQ:FIBK) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). First Interstate Bancsystem had a net margin of 25.84% and a return on equity of 10.69%. The business had revenue of $150.50 million during the quarter, compared to the consensus estimate of $151.84 million.
Several equities research analysts have recently commented on the stock. BidaskClub upgraded shares of First Interstate Bancsystem from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Piper Jaffray Companies set a $47.00 price objective on shares of First Interstate Bancsystem and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Robert W. Baird started coverage on shares of First Interstate Bancsystem in a research note on Wednesday, April 10th. They set a “neutral” rating and a $42.00 price objective for the company. Finally, Zacks Investment Research lowered shares of First Interstate Bancsystem from a “hold” rating to a “sell” rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $45.65.
Shares of NASDAQ:FIBK traded down $0.31 during trading hours on Wednesday, hitting $39.53. The company’s stock had a trading volume of 185,493 shares, compared to its average volume of 197,068. First Interstate Bancsystem has a 52 week low of $34.61 and a 52 week high of $47.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $2.40 billion, a P/E ratio of 13.54, a P/E/G ratio of 1.40 and a beta of 1.15.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Monday, May 13th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Friday, May 10th. This is a positive change from First Interstate Bancsystem’s previous quarterly dividend of $0.20. First Interstate Bancsystem’s payout ratio is 42.47%.
In other First Interstate Bancsystem news, insider Philip G. Gaglia sold 2,112 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $42.20, for a total transaction of $89,126.40. Following the sale, the insider now owns 3,184 shares of the company’s stock, valued at approximately $134,364.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jonathan R. Scott sold 15,670 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $41.14, for a total transaction of $644,663.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,986 shares of company stock valued at $826,645. 24.93% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in FIBK. Macquarie Group Ltd. boosted its holdings in First Interstate Bancsystem by 16.1% during the first quarter. Macquarie Group Ltd. now owns 3,157,681 shares of the financial services provider’s stock worth $125,739,000 after buying an additional 437,779 shares in the last quarter. Vanguard Group Inc. raised its position in shares of First Interstate Bancsystem by 14.0% in the third quarter. Vanguard Group Inc. now owns 2,855,431 shares of the financial services provider’s stock valued at $127,924,000 after buying an additional 349,804 shares during the last quarter. Vanguard Group Inc raised its position in shares of First Interstate Bancsystem by 14.0% in the third quarter. Vanguard Group Inc now owns 2,855,431 shares of the financial services provider’s stock valued at $127,924,000 after buying an additional 349,804 shares during the last quarter. BlackRock Inc. raised its position in shares of First Interstate Bancsystem by 0.4% in the first quarter. BlackRock Inc. now owns 2,481,178 shares of the financial services provider’s stock valued at $98,799,000 after buying an additional 8,940 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of First Interstate Bancsystem by 3.0% in the third quarter. JPMorgan Chase & Co. now owns 1,638,409 shares of the financial services provider’s stock valued at $73,401,000 after buying an additional 47,677 shares during the last quarter. 48.28% of the stock is currently owned by institutional investors.
First Interstate Bancsystem Company Profile
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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