Analysts expect First Interstate BancSystem, Inc. (NASDAQ:FIBK) to post earnings of $0.61 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for First Interstate BancSystem’s earnings, with the highest EPS estimate coming in at $0.64 and the lowest estimate coming in at $0.58. First Interstate BancSystem posted earnings of $0.58 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 5.2%. The business is expected to report its next quarterly earnings report after the market closes on Monday, October 30th.

According to Zacks, analysts expect that First Interstate BancSystem will report full year earnings of $2.31 per share for the current fiscal year, with EPS estimates ranging from $2.27 to $2.37. For the next financial year, analysts forecast that the company will report earnings of $2.61 per share, with EPS estimates ranging from $2.51 to $2.75. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow First Interstate BancSystem.

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

Several brokerages have commented on FIBK. Barclays PLC set a $43.00 target price on shares of First Interstate BancSystem and gave the company a “buy” rating in a research note on Wednesday, October 11th. BidaskClub downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Zacks Investment Research raised shares of First Interstate BancSystem from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Tuesday, August 1st. Finally, ValuEngine downgraded shares of First Interstate BancSystem from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $42.50.

A number of large investors have recently modified their holdings of FIBK. Granite Investment Partners LLC increased its position in shares of First Interstate BancSystem by 0.4% during the second quarter. Granite Investment Partners LLC now owns 29,273 shares of the financial services provider’s stock worth $1,089,000 after acquiring an additional 113 shares in the last quarter. Sei Investments Co. increased its position in shares of First Interstate BancSystem by 5.6% during the first quarter. Sei Investments Co. now owns 3,154 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 168 shares in the last quarter. Wrapmanager Inc. increased its position in shares of First Interstate BancSystem by 3.6% during the second quarter. Wrapmanager Inc. now owns 6,322 shares of the financial services provider’s stock worth $235,000 after acquiring an additional 217 shares in the last quarter. American Century Companies Inc. increased its position in shares of First Interstate BancSystem by 0.7% during the second quarter. American Century Companies Inc. now owns 61,791 shares of the financial services provider’s stock worth $2,299,000 after acquiring an additional 414 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of First Interstate BancSystem by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,531 shares of the financial services provider’s stock worth $169,000 after acquiring an additional 680 shares in the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

Shares of First Interstate BancSystem (NASDAQ FIBK) opened at 38.80 on Friday. The stock has a market capitalization of $2.19 billion, a P/E ratio of 18.77 and a beta of 1.17. The firm’s 50-day moving average price is $37.45 and its 200-day moving average price is $37.02. First Interstate BancSystem has a one year low of $30.70 and a one year high of $45.35.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Monday, October 30th. First Interstate BancSystem’s payout ratio is presently 46.38%.

ILLEGAL ACTIVITY NOTICE: This story was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/10/29/0-61-earnings-per-share-expected-for-first-interstate-bancsystem-inc-fibk-this-quarter.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.