$165.70 Million in Sales Expected for First Interstate Bancsystem Inc (NASDAQ:FIBK) This Quarter

Equities research analysts expect that First Interstate Bancsystem Inc (NASDAQ:FIBK) will post $165.70 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for First Interstate Bancsystem’s earnings, with the highest sales estimate coming in at $166.60 million and the lowest estimate coming in at $164.80 million. First Interstate Bancsystem posted sales of $153.20 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.2%. The company is expected to announce its next earnings results on Wednesday, January 29th.

According to Zacks, analysts expect that First Interstate Bancsystem will report full year sales of $646.90 million for the current financial year, with estimates ranging from $645.00 million to $649.50 million. For the next year, analysts expect that the business will report sales of $658.03 million, with estimates ranging from $653.00 million to $662.30 million. Zacks Investment Research’s sales averages 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 posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.03). The firm had revenue of $166.30 million during the quarter, compared to the consensus estimate of $167.38 million. First Interstate Bancsystem had a net margin of 24.33% and a return on equity of 10.21%.

Several equities research analysts have recently commented on the stock. ValuEngine upgraded shares of First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of First Interstate Bancsystem from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, BidaskClub cut shares of First Interstate Bancsystem from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. First Interstate Bancsystem presently has an average rating of “Hold” and an average target price of $42.48.

In other First Interstate Bancsystem news, Director Ross E. Leckie sold 1,219 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $39.27, for a total value of $47,870.13. Following the completion of the sale, the director now owns 17,027 shares of the company’s stock, valued at $668,650.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin P. Riley bought 1,300 shares of the business’s stock in a transaction on Monday, November 25th. The stock was purchased at an average price of $42.09 per share, for a total transaction of $54,717.00. Following the completion of the acquisition, the chief executive officer now owns 21,930 shares of the company’s stock, valued at approximately $923,033.70. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 10,015 shares of company stock worth $420,932. Company insiders own 24.93% of the company’s stock.

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A number of hedge funds have recently bought and sold shares of FIBK. Vanguard Group Inc. increased its stake in shares of First Interstate Bancsystem by 10.5% in the second quarter. Vanguard Group Inc. now owns 3,570,278 shares of the financial services provider’s stock valued at $141,419,000 after buying an additional 340,132 shares during the period. BlackRock Inc. grew its stake in First Interstate Bancsystem by 10.1% during the second quarter. BlackRock Inc. now owns 2,732,811 shares of the financial services provider’s stock worth $108,247,000 after purchasing an additional 251,633 shares during the period. Schroder Investment Management Group grew its stake in First Interstate Bancsystem by 48.0% during the second quarter. Schroder Investment Management Group now owns 677,495 shares of the financial services provider’s stock worth $26,836,000 after purchasing an additional 219,802 shares during the period. Nuveen Asset Management LLC bought a new stake in First Interstate Bancsystem in the second quarter worth approximately $7,031,000. Finally, Balyasny Asset Management LLC increased its holdings in First Interstate Bancsystem by 197.9% in the second quarter. Balyasny Asset Management LLC now owns 244,662 shares of the financial services provider’s stock worth $9,691,000 after purchasing an additional 162,535 shares in the last quarter. Hedge funds and other institutional investors own 49.68% of the company’s stock.

First Interstate Bancsystem stock traded down $0.47 during trading hours on Friday, reaching $41.21. 502 shares of the company’s stock traded hands, compared to its average volume of 131,414. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 1.73 and a beta of 1.19. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.82 and a current ratio of 0.82. First Interstate Bancsystem has a fifty-two week low of $34.61 and a fifty-two week high of $43.97. The firm’s 50 day moving average is $42.35 and its 200-day moving average is $39.90.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Saturday, November 9th were paid a $0.31 dividend. This is a positive change from First Interstate Bancsystem’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, November 7th. This represents a $1.24 annualized dividend and a yield of 3.01%. First Interstate Bancsystem’s dividend payout ratio is presently 42.47%.

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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