Brokerages expect First Interstate Bancsystem Inc (NASDAQ:FIBK) to report sales of $136.17 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for First Interstate Bancsystem’s earnings, with estimates ranging from $134.60 million to $137.48 million. First Interstate Bancsystem posted sales of $98.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 38.9%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, April 24th.
On average, analysts expect that First Interstate Bancsystem will report full-year sales of $136.17 million for the current year, with estimates ranging from $547.78 million to $567.60 million. For the next financial year, analysts forecast that the company will report sales of $583.85 million per share, with estimates ranging from $563.43 million to $598.33 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for First Interstate Bancsystem.
First Interstate Bancsystem (NASDAQ:FIBK) last posted its earnings results on Tuesday, January 30th. The financial services provider reported $0.57 earnings per share (EPS) 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.
In other First Interstate Bancsystem news, CEO Kevin P. Riley bought 800 shares of First Interstate Bancsystem 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 acquisition, the chief executive officer now owns 28,349 shares in the company, valued at $1,171,947.66. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan R. Scott sold 25,000 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $37.76, for a total transaction of $944,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,925 shares of company stock worth $2,081,713. Corporate insiders own 38.22% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in FIBK. SG Americas Securities LLC bought a new position in shares of First Interstate Bancsystem during the 3rd quarter valued at $105,000. Stifel Financial Corp bought a new position in shares of First Interstate Bancsystem during the 3rd quarter valued at $200,000. UBS Asset Management Americas Inc. bought a new position in shares of First Interstate Bancsystem during the 2nd quarter valued at $213,000. Opus Capital Group LLC bought a new position in shares of First Interstate Bancsystem during the 4th quarter valued at $223,000. Finally, Victory Capital Management Inc. grew its holdings in shares of First Interstate Bancsystem by 31.9% during the 3rd quarter. Victory Capital Management Inc. now owns 5,977 shares of the financial services provider’s stock valued at $229,000 after purchasing an additional 1,446 shares during the last quarter. 45.43% of the stock is currently owned by institutional investors.
Shares of First Interstate Bancsystem (NASDAQ FIBK) opened at $40.05 on Wednesday. First Interstate Bancsystem has a 52 week low of $33.33 and a 52 week high of $45.35. 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 stock has a market cap of $2,260.00, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 1.50 and a beta of 1.11.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Monday, February 12th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, February 9th. This represents a $1.12 annualized dividend and a dividend yield of 2.80%. This is a boost from First Interstate Bancsystem’s previous quarterly dividend of $0.24. First Interstate Bancsystem’s dividend payout ratio (DPR) is 54.37%.
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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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