Zacks: Brokerages Anticipate First Interstate Bancsystem Inc (FIBK) to Post $0.76 Earnings Per Share

Equities research analysts expect First Interstate Bancsystem Inc (NASDAQ:FIBK) to post $0.76 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for First Interstate Bancsystem’s earnings, with the highest EPS estimate coming in at $0.81 and the lowest estimate coming in at $0.74. First Interstate Bancsystem reported earnings of $0.57 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 33.3%. The firm is scheduled to report its next quarterly earnings report on Tuesday, January 29th.

According to Zacks, analysts expect that First Interstate Bancsystem will report full year earnings of $2.89 per share for the current financial year, with EPS estimates ranging from $2.82 to $2.97. For the next financial year, analysts anticipate that the firm will report earnings of $3.23 per share, with EPS estimates ranging from $3.16 to $3.30. Zacks’ EPS averages are an average based on a survey of research analysts that cover First Interstate Bancsystem.

First Interstate Bancsystem (NASDAQ:FIBK) last issued its earnings results on Wednesday, October 24th. The financial services provider reported $0.71 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.04). First Interstate Bancsystem had a return on equity of 10.88% and a net margin of 23.86%. The firm had revenue of $146.20 million during the quarter, compared to analysts’ expectations of $144.93 million.

Several research analysts recently commented on the stock. BidaskClub downgraded shares of First Interstate Bancsystem from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 29th. Zacks Investment Research raised shares of First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Monday, July 30th. Barclays reaffirmed a “buy” rating and issued a $48.00 target price on shares of First Interstate Bancsystem in a research note on Sunday, July 29th. DA Davidson lifted their target price on shares of 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 shares of First Interstate Bancsystem in a research note on Tuesday, October 16th. They issued an “outperform” rating and a $52.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. First Interstate Bancsystem has a consensus rating of “Hold” and a consensus target price of $48.33.

In related news, CEO Kevin P. Riley acquired 975 shares of First Interstate Bancsystem stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John M. Heyneman, Jr. sold 1,000 shares of the business’s stock in a transaction on Wednesday, December 12th. The shares were sold at an average price of $41.87, for a total transaction of $41,870.00. Following the transaction, the director now directly owns 3,621 shares in the company, valued at $151,611.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,000 shares of company stock worth $300,210. Insiders own 40.23% of the company’s stock.

A number of institutional investors have recently modified their holdings of FIBK. California Public Employees Retirement System increased its position in First Interstate Bancsystem by 13.3% during the 1st quarter. California Public Employees Retirement System now owns 40,078 shares of the financial services provider’s stock valued at $1,585,000 after purchasing an additional 4,699 shares during the period. Stifel Financial Corp purchased a new position in First Interstate Bancsystem during the 1st quarter valued at $223,000. UBS Group AG boosted its holdings in shares of First Interstate Bancsystem by 23.2% during the 1st quarter. UBS Group AG now owns 21,406 shares of the financial services provider’s stock valued at $847,000 after buying an additional 4,027 shares in the last quarter. Xact Kapitalforvaltning AB boosted its holdings 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 valued at $302,000 after buying an additional 2,200 shares in the last quarter. Finally, Ramsey Quantitative Systems bought a new stake in shares of First Interstate Bancsystem during the 2nd quarter valued at $320,000. 50.32% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ FIBK traded up $0.45 during mid-day trading on Friday, hitting $42.11. The stock had a trading volume of 183,108 shares, compared to its average volume of 288,480. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.07. First Interstate Bancsystem has a 1 year low of $36.00 and a 1 year high of $47.05. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 1.59 and a beta of 1.10.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Friday, November 9th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Thursday, November 8th. First Interstate Bancsystem’s payout ratio is currently 55.72%.

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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