Zacks: Analysts Anticipate First Interstate BancSystem (FIBK) Will Announce Earnings of $0.69 Per Share

Equities research analysts expect First Interstate BancSystem (NASDAQ:FIBK) to report earnings of $0.69 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for First Interstate BancSystem’s earnings, with estimates ranging from $0.67 to $0.72. First Interstate BancSystem reported earnings per share of $0.52 during the same quarter last year, which would suggest a positive year-over-year growth rate of 32.7%. The company is scheduled to report its next earnings results after the market closes on Wednesday, April 25th.

According to Zacks, analysts expect that First Interstate BancSystem will report full year earnings of $2.97 per share for the current year, with EPS estimates ranging from $2.80 to $3.05. For the next year, analysts anticipate that the business will post 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.

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First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.57 EPS 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 business had revenue of $138.03 million for the quarter, compared to analysts’ expectations of $138.00 million.

Several analysts have recently commented on FIBK shares. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $45.00 price objective on shares of First Interstate BancSystem in a report on Friday, December 22nd. Barclays increased their price objective on First Interstate BancSystem from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Piper Jaffray reiterated a “buy” rating on shares of First Interstate BancSystem in a report on Wednesday, January 31st. Zacks Investment Research lowered First Interstate BancSystem from a “buy” rating to a “hold” rating in a report on Monday, March 12th. Finally, Sandler O’Neill reiterated a “buy” rating and set a $46.00 price objective on shares of First Interstate BancSystem in a report on Thursday, March 29th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $45.00.

Shares of FIBK opened at $39.30 on Wednesday. First Interstate BancSystem has a 12 month low of $33.33 and a 12 month high of $42.90. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08. The firm has a market cap of $2,279.25, a PE ratio of 17.47, a price-to-earnings-growth ratio of 1.51 and a beta of 1.11.

In related news, SVP Kevin Guenthner sold 5,878 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $40.37, for a total value of $237,294.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin P. Riley bought 800 shares of First Interstate BancSystem stock in a transaction that occurred on Monday, February 5th. The stock was purchased at an average price of $41.34 per share, with a total value of $33,072.00. Following the purchase, the chief executive officer now directly owns 28,349 shares in the company, valued at $1,171,947.66. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 269,050 shares of company stock valued at $10,643,897. Company insiders own 40.23% of the company’s stock.

A number of hedge funds have recently modified their holdings of FIBK. Raymond James Financial Services Advisors Inc. purchased a new position in First Interstate BancSystem in the 3rd quarter worth $238,000. BNP Paribas Arbitrage SA raised its stake in First Interstate BancSystem by 116.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,417 shares of the financial services provider’s stock worth $245,000 after acquiring an additional 3,447 shares during the last quarter. Rhumbline Advisers raised its stake in First Interstate BancSystem by 3.4% in the 3rd quarter. Rhumbline Advisers now owns 44,834 shares of the financial services provider’s stock worth $1,715,000 after acquiring an additional 1,490 shares during the last quarter. Advisors Asset Management Inc. raised its stake in First Interstate BancSystem by 62.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 14,971 shares of the financial services provider’s stock worth $573,000 after acquiring an additional 5,746 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in First Interstate BancSystem in the 3rd quarter worth $105,000. Institutional investors own 46.08% of the company’s stock.

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

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