First Interstate Bancsystem Inc (FIBK) Expected to Announce Quarterly Sales of $138.00 Million

Wall Street analysts forecast that First Interstate Bancsystem Inc (NASDAQ:FIBK) will post $138.00 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for First Interstate Bancsystem’s earnings, with estimates ranging from $137.79 million to $138.22 million. First Interstate Bancsystem reported sales of $108.42 million during the same quarter last year, which would suggest a positive year over year growth rate of 27.3%. The firm is expected to issue its next earnings report after the market closes on Tuesday, January 30th.

On average, analysts expect that First Interstate Bancsystem will report full year sales of $138.00 million for the current year, with estimates ranging from $488.50 million to $491.79 million. For the next fiscal year, analysts forecast that the business will report sales of $562.09 million per share, with estimates ranging from $550.80 million to $572.76 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover First Interstate Bancsystem.

First Interstate Bancsystem (NASDAQ:FIBK) last announced its earnings results on Monday, October 30th. The financial services provider reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.02. First Interstate Bancsystem had a return on equity of 9.40% and a net margin of 19.90%.

Several research firms have issued reports on FIBK. Barclays lifted their price target on shares of First Interstate Bancsystem from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Zacks Investment Research upgraded shares of First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Wednesday, November 1st. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $45.00 price target on shares of First Interstate Bancsystem in a research report on Friday, December 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $44.75.

In other First Interstate Bancsystem news, Director Ross E. Leckie sold 1,500 shares of First Interstate Bancsystem stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $38.85, for a total transaction of $58,275.00. Following the transaction, the director now directly owns 23,028 shares in the company, valued at approximately $894,637.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ross E. Leckie sold 2,000 shares of First Interstate Bancsystem stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $39.61, for a total transaction of $79,220.00. Following the transaction, the director now owns 21,028 shares in the company, valued at $832,919.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 114,525 shares of company stock worth $4,240,874. 38.22% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in First Interstate Bancsystem during the 3rd quarter worth approximately $105,000. BNP Paribas Arbitrage SA grew its position in First Interstate Bancsystem by 622.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,970 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 2,559 shares in the last quarter. Quantbot Technologies LP grew its position in First Interstate Bancsystem by 955.6% during the 2nd quarter. Quantbot Technologies LP now owns 3,019 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 2,733 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new position in First Interstate Bancsystem during the 2nd quarter worth approximately $142,000. Finally, Stifel Financial Corp purchased a new position in First Interstate Bancsystem during the 3rd quarter worth approximately $200,000. Hedge funds and other institutional investors own 45.15% of the company’s stock.

Shares of First Interstate Bancsystem (FIBK) opened at $42.05 on Friday. First Interstate Bancsystem has a twelve month low of $33.33 and a twelve month high of $45.35. The company has a market capitalization of $2,371.11, a P/E ratio of 21.13, a P/E/G ratio of 1.65 and a beta of 1.18. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.08.

TRADEMARK VIOLATION WARNING: “First Interstate Bancsystem Inc (FIBK) Expected to Announce Quarterly Sales of $138.00 Million” was posted by American Banking News and is the property of of American Banking News. If you are viewing this article on another website, it was stolen and republished in violation of US & international copyright and trademark laws. The original version of this article can be read at https://www.americanbankingnews.com/2018/01/28/first-interstate-bancsystem-inc-fibk-expected-to-announce-quarterly-sales-of-138-00-million.html.

First Interstate Bancsystem Company Profile

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

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