First Interstate Bancsystem Inc Forecasted to Post Q4 2020 Earnings of $0.89 Per Share (FIBK)

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First Interstate Bancsystem Inc (NASDAQ:FIBK) – Research analysts at Piper Jaffray Companies decreased their Q4 2020 earnings per share (EPS) estimates for shares of First Interstate Bancsystem in a note issued to investors on Thursday, May 2nd. Piper Jaffray Companies analyst M. Clark now anticipates that the financial services provider will post earnings of $0.89 per share for the quarter, down from their prior forecast of $0.90. Piper Jaffray Companies currently has a “Buy” rating and a $47.00 price objective on the stock.

Several other brokerages have also commented on FIBK. BidaskClub raised First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Zacks Investment Research lowered First Interstate Bancsystem from a “hold” rating to a “sell” rating in a research report on Wednesday, March 13th. Finally, Robert W. Baird assumed coverage on First Interstate Bancsystem in a research report on Wednesday, April 10th. They set a “neutral” rating and a $42.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. First Interstate Bancsystem presently has a consensus rating of “Hold” and an average target price of $45.65.

First Interstate Bancsystem stock traded up $0.71 on Friday, hitting $42.54. 181,585 shares of the stock traded hands, compared to its average volume of 199,925. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $2.58 billion, a P/E ratio of 14.57, a P/E/G ratio of 1.52 and a beta of 1.15. First Interstate Bancsystem has a 1 year low of $34.61 and a 1 year high of $47.05.

First Interstate Bancsystem (NASDAQ:FIBK) last announced its quarterly earnings data 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). The firm had revenue of $150.50 million for the quarter, compared to analysts’ expectations of $151.84 million. First Interstate Bancsystem had a net margin of 25.98% and a return on equity of 10.91%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Quantamental Technologies LLC bought a new stake in First Interstate Bancsystem in the 4th quarter worth about $26,000. Captrust Financial Advisors increased its holdings in First Interstate Bancsystem by 122.3% in the 4th quarter. Captrust Financial Advisors now owns 767 shares of the financial services provider’s stock worth $28,000 after buying an additional 422 shares in the last quarter. Buffington Mohr McNeal bought a new stake in First Interstate Bancsystem in the 1st quarter worth about $45,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in First Interstate Bancsystem by 19.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,479 shares of the financial services provider’s stock worth $91,000 after buying an additional 411 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in First Interstate Bancsystem by 71.4% in the 4th quarter. Great West Life Assurance Co. Can now owns 3,760 shares of the financial services provider’s stock worth $132,000 after buying an additional 1,566 shares in the last quarter. 49.58% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Jonathan R. Scott sold 15,670 shares of First Interstate Bancsystem stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $41.14, for a total value of $644,663.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Philip G. Gaglia sold 2,112 shares of First Interstate Bancsystem stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $42.20, for a total value of $89,126.40. Following the completion of the transaction, the insider now directly owns 3,184 shares of the company’s stock, valued at approximately $134,364.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,986 shares of company stock valued at $826,645. 24.93% of the stock is owned by insiders.

The business also recently declared a dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Monday, May 13th will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, May 10th. This is a positive change from First Interstate Bancsystem’s previous dividend of $0.20. First Interstate Bancsystem’s payout ratio is currently 42.47%.

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

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