First Interstate BancSystem (FIBK) Scheduled to Post Earnings on Wednesday

First Interstate BancSystem (NASDAQ:FIBK) will be posting its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect First Interstate BancSystem to post earnings of $0.53 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.47%. The business had revenue of $252.30 million during the quarter, compared to the consensus estimate of $254.50 million. On average, analysts expect First Interstate BancSystem to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

First Interstate BancSystem Stock Down 2.0 %

FIBK stock opened at $24.37 on Wednesday. First Interstate BancSystem has a twelve month low of $20.81 and a twelve month high of $32.54. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $2.53 billion, a P/E ratio of 9.83 and a beta of 0.87. The firm has a 50 day simple moving average of $26.07 and a 200-day simple moving average of $26.62.

First Interstate BancSystem Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 19th. Stockholders of record on Friday, February 9th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.71%. This is an increase from First Interstate BancSystem’s previous quarterly dividend of $0.20. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 75.81%.

Insiders Place Their Bets

In other news, insider Lorrie F. Asker sold 1,921 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total transaction of $50,042.05. Following the completion of the transaction, the insider now owns 6,909 shares of the company’s stock, valued at $179,979.45. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Lorrie F. Asker sold 1,921 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total transaction of $50,042.05. Following the completion of the transaction, the insider now owns 6,909 shares of the company’s stock, valued at $179,979.45. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Karlyn M. Knieriem sold 2,900 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $26.76, for a total transaction of $77,604.00. Following the transaction, the executive vice president now directly owns 20,599 shares of the company’s stock, valued at approximately $551,229.24. The disclosure for this sale can be found here. Insiders sold a total of 7,531 shares of company stock valued at $197,645 over the last 90 days. 6.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Interstate BancSystem

Several hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in shares of First Interstate BancSystem by 95.6% during the second quarter. PNC Financial Services Group Inc. now owns 2,279 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 1,114 shares in the last quarter. Clear Street Markets LLC bought a new stake in shares of First Interstate BancSystem during the fourth quarter valued at about $71,000. Tower Research Capital LLC TRC raised its stake in shares of First Interstate BancSystem by 43.9% during the third quarter. Tower Research Capital LLC TRC now owns 3,273 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 999 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of First Interstate BancSystem during the fourth quarter valued at about $93,000. Finally, Captrust Financial Advisors raised its stake in shares of First Interstate BancSystem by 489.2% during the first quarter. Captrust Financial Advisors now owns 2,881 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 2,392 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FIBK. TheStreet downgraded shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. Barclays started coverage on shares of First Interstate BancSystem in a report on Friday, March 8th. They issued an “equal weight” rating and a $28.00 price objective for the company. Finally, Wells Fargo & Company lifted their price objective on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $29.00.

About First Interstate BancSystem

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.