Equities analysts expect First Interstate BancSystem, Inc. (NASDAQ:FIBK) to announce sales of $135.02 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for First Interstate BancSystem’s earnings, with the lowest sales estimate coming in at $132.50 million and the highest estimate coming in at $137.93 million. First Interstate BancSystem posted sales of $102.45 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 31.8%. The business is expected to announce its next earnings report on Monday, October 23rd.

According to Zacks, analysts expect that First Interstate BancSystem will report full-year sales of $135.02 million for the current fiscal year, with estimates ranging from $474.90 million to $490.17 million. For the next fiscal year, analysts anticipate that the business will report sales of $556.38 million per share, with estimates ranging from $549.78 million to $564.75 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow First Interstate BancSystem.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.03. The company had revenue of $116.50 million during the quarter, compared to analysts’ expectations of $119.97 million. First Interstate BancSystem had a return on equity of 9.44% and a net margin of 21.08%.

FIBK has been the topic of several analyst reports. Zacks Investment Research raised First Interstate BancSystem from a “hold” rating to a “strong-buy” rating and set a $44.00 target price on the stock in a report on Friday, April 28th. Keefe, Bruyette & Woods set a $43.00 target price on First Interstate BancSystem and gave the stock a “hold” rating in a report on Saturday, May 27th. ValuEngine raised First Interstate BancSystem from a “hold” rating to a “buy” rating in a report on Wednesday, May 31st. Piper Jaffray Companies reissued an “overweight” rating and set a $43.00 target price (down from $44.00) on shares of First Interstate BancSystem in a report on Thursday, June 1st. Finally, Wells Fargo & Company raised First Interstate BancSystem from a “market perform” rating to an “outperform” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $42.00.

Several hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of First Interstate BancSystem by 105.8% in the second quarter. JPMorgan Chase & Co. now owns 1,670,474 shares of the financial services provider’s stock valued at $62,142,000 after buying an additional 858,775 shares in the last quarter. Laurion Capital Management LP acquired a new stake in shares of First Interstate BancSystem during the second quarter valued at $23,962,000. Bank of New York Mellon Corp increased its stake in shares of First Interstate BancSystem by 63.2% in the second quarter. Bank of New York Mellon Corp now owns 1,603,013 shares of the financial services provider’s stock valued at $59,632,000 after buying an additional 620,854 shares in the last quarter. Koch Industries Inc. acquired a new stake in shares of First Interstate BancSystem during the second quarter valued at $584,000. Finally, Vanguard Group Inc. increased its stake in shares of First Interstate BancSystem by 44.7% in the first quarter. Vanguard Group Inc. now owns 1,795,049 shares of the financial services provider’s stock valued at $71,175,000 after buying an additional 554,418 shares in the last quarter. Institutional investors and hedge funds own 41.10% of the company’s stock.

First Interstate BancSystem (NASDAQ FIBK) opened at 35.80 on Thursday. The firm’s 50 day moving average price is $36.75 and its 200-day moving average price is $38.64. First Interstate BancSystem has a one year low of $29.67 and a one year high of $45.35. The company has a market capitalization of $2.02 billion, a PE ratio of 17.34 and a beta of 1.15.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Wednesday, August 2nd were given a dividend of $0.24 per share. The ex-dividend date was Monday, July 31st. This represents a $0.96 annualized dividend and a dividend yield of 2.68%. First Interstate BancSystem’s dividend payout ratio is currently 46.38%.

ILLEGAL ACTIVITY NOTICE: “First Interstate BancSystem, Inc. (FIBK) Expected to Post Quarterly Sales of $135.02 Million” was first reported by American Banking News and is owned by of American Banking News. If you are reading this story on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark law. The correct version of this story can be read at https://www.americanbankingnews.com/2017/08/17/first-interstate-bancsystem-inc-fibk-expected-to-post-quarterly-sales-of-135-02-million.html.

About First Interstate BancSystem

First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.

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