$144.07 Million in Sales Expected for First Interstate Bancsystem Inc (FIBK) This Quarter

Share on StockTwits

Brokerages expect First Interstate Bancsystem Inc (NASDAQ:FIBK) to announce $144.07 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for First Interstate Bancsystem’s earnings, with estimates ranging from $141.03 million to $148.63 million. First Interstate Bancsystem reported sales of $139.07 million during the same quarter last year, which indicates a positive year over year growth rate of 3.6%. The firm is expected to issue its next quarterly earnings report on Monday, October 29th.

According to Zacks, analysts expect that First Interstate Bancsystem will report full year sales of $576.45 million for the current financial year, with estimates ranging from $571.90 million to $581.35 million. For the next financial year, analysts forecast that the business will report sales of $641.04 million per share, with estimates ranging from $636.08 million to $646.46 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover First Interstate Bancsystem.

First Interstate Bancsystem (NASDAQ:FIBK) last posted its earnings results on Wednesday, July 25th. The financial services provider reported $0.74 EPS for the quarter, hitting analysts’ consensus estimates of $0.74. The business had revenue of $141.40 million for the quarter, compared to analysts’ expectations of $139.12 million. First Interstate Bancsystem had a net margin of 23.86% and a return on equity of 10.35%.

A number of analysts recently issued reports on the stock. ValuEngine lowered shares of First Interstate Bancsystem from a “buy” rating to a “hold” rating in a research note on Monday, June 11th. Zacks Investment Research upgraded shares of First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Monday, July 30th. Barclays restated a “buy” rating and issued a $48.00 price target on shares of First Interstate Bancsystem in a research note on Sunday, July 29th. BidaskClub lowered shares of First Interstate Bancsystem from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 30th. Finally, FIG Partners upgraded shares of First Interstate Bancsystem from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 26th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $47.00.

In other First Interstate Bancsystem news, Director Randall I. Scott sold 6,000 shares of the business’s stock in a transaction on Monday, June 4th. The shares were sold at an average price of $43.88, for a total transaction of $263,280.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the director now owns 3,621 shares of the company’s stock, valued at approximately $151,611.27. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,623 shares of company stock valued at $1,328,279. Insiders own 40.23% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its stake in First Interstate Bancsystem by 2.2% during the first quarter. American Century Companies Inc. now owns 64,335 shares of the financial services provider’s stock valued at $2,544,000 after purchasing an additional 1,399 shares during the last quarter. Victory Capital Management Inc. increased its stake in First Interstate Bancsystem by 15.9% during the second quarter. Victory Capital Management Inc. now owns 10,521 shares of the financial services provider’s stock valued at $444,000 after purchasing an additional 1,445 shares during the last quarter. Barclays PLC increased its stake in First Interstate Bancsystem by 25.7% during the first quarter. Barclays PLC now owns 8,678 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 1,777 shares during the last quarter. LSV Asset Management increased its stake in First Interstate Bancsystem by 0.3% during the first quarter. LSV Asset Management now owns 680,200 shares of the financial services provider’s stock valued at $26,901,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in First Interstate Bancsystem by 68.3% during the first quarter. Envestnet Asset Management Inc. now owns 4,507 shares of the financial services provider’s stock valued at $178,000 after purchasing an additional 1,829 shares during the last quarter. Hedge funds and other institutional investors own 46.79% of the company’s stock.

Shares of NASDAQ:FIBK remained flat at $$43.50 during midday trading on Friday. 87,083 shares of the company were exchanged, compared to its average volume of 121,802. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 1.62 and a beta of 1.08. First Interstate Bancsystem has a fifty-two week low of $33.33 and a fifty-two week high of $44.95.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 21st. Investors of record on Friday, August 10th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, August 9th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.57%. First Interstate Bancsystem’s dividend payout ratio (DPR) is presently 55.72%.

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.

Recommended Story: What are the Different Types of Leveraged Buyouts?

Get a free copy of the Zacks research report on First Interstate Bancsystem (FIBK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for First Interstate Bancsystem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Interstate Bancsystem and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply