Zacks: Analysts Expect First Interstate Bancsystem Inc (FIBK) Will Post Earnings of $0.69 Per Share

Equities research analysts forecast that First Interstate Bancsystem Inc (NASDAQ:FIBK) will report $0.69 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for First Interstate Bancsystem’s earnings. The highest EPS estimate is $0.72 and the lowest is $0.67. First Interstate Bancsystem posted earnings per share of $0.52 during the same quarter last year, which would suggest a positive year-over-year growth rate of 32.7%. The business is expected to announce its next earnings report on Tuesday, April 24th.

According to Zacks, analysts expect that First Interstate Bancsystem will report full-year earnings of $2.97 per share for the current year, with EPS estimates ranging from $2.80 to $3.05. For the next year, analysts expect that the company will post earnings of $3.14 per share, with EPS estimates ranging from $2.90 to $3.25. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for First Interstate Bancsystem.

First Interstate Bancsystem (NASDAQ:FIBK) last issued its earnings results on Tuesday, January 30th. The financial services provider reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.08). First Interstate Bancsystem had a return on equity of 9.37% and a net margin of 19.90%. The firm had revenue of $138.03 million during the quarter, compared to analysts’ expectations of $138.00 million.

FIBK has been the subject of several research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $45.00 target price on shares of First Interstate Bancsystem in a report on Friday, December 22nd. Barclays upped their target price on First Interstate Bancsystem from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Zacks Investment Research upgraded First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Wednesday, November 1st. Finally, Piper Jaffray Companies restated a “buy” rating on shares of First Interstate Bancsystem in a research note on Wednesday, January 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $44.75.

In related news, Director Jonathan R. Scott sold 25,000 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $37.76, for a total transaction of $944,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin P. Riley acquired 800 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were bought at an average price of $41.34 per share, with a total value of $33,072.00. Following the completion of the purchase, the chief executive officer now directly owns 28,349 shares in the company, valued at $1,171,947.66. The disclosure for this purchase can be found here. Insiders have sold a total of 78,925 shares of company stock valued at $3,014,963 over the last 90 days. 38.22% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Ramsey Quantitative Systems acquired a new position in First Interstate Bancsystem during the 4th quarter valued at about $307,000. UBS Asset Management Americas Inc. increased its position in First Interstate Bancsystem by 90.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 10,870 shares of the financial services provider’s stock valued at $435,000 after buying an additional 5,149 shares in the last quarter. Bank of New York Mellon Corp increased its position in First Interstate Bancsystem by 3.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,378,676 shares of the financial services provider’s stock valued at $95,266,000 after buying an additional 86,997 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in First Interstate Bancsystem by 29.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 8,035 shares of the financial services provider’s stock valued at $322,000 after buying an additional 1,815 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in First Interstate Bancsystem by 23.4% during the 4th quarter. Wells Fargo & Company MN now owns 160,249 shares of the financial services provider’s stock valued at $6,419,000 after buying an additional 30,407 shares in the last quarter. 45.43% of the stock is currently owned by institutional investors.

Shares of First Interstate Bancsystem (FIBK) traded down $0.15 during mid-day trading on Monday, hitting $39.90. The company’s stock had a trading volume of 177,281 shares, compared to its average volume of 164,289. First Interstate Bancsystem has a twelve month low of $33.33 and a twelve month high of $45.35. The stock has a market cap of $2,261.02, a PE ratio of 19.46, a price-to-earnings-growth ratio of 1.50 and a beta of 1.11. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.08.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Monday, February 12th will be paid a dividend of $0.28 per share. This is a boost from First Interstate Bancsystem’s previous quarterly dividend of $0.24. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Friday, February 9th. First Interstate Bancsystem’s dividend payout ratio is 46.83%.

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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.

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

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