Wall Street analysts expect that First Interstate Bancsystem Inc (NASDAQ:FIBK) will post sales of $165.13 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for First Interstate Bancsystem’s earnings, with estimates ranging from $164.00 million to $166.60 million. First Interstate Bancsystem posted sales of $153.20 million in the same quarter last year, which suggests a positive year-over-year growth rate of 7.8%. The business is expected to announce its next earnings results after the market closes on Wednesday, January 29th.
According to Zacks, analysts expect that First Interstate Bancsystem will report full year sales of $646.90 million for the current financial year, with estimates ranging from $645.00 million to $649.50 million. For the next financial year, analysts forecast that the company will post sales of $658.37 million, with estimates ranging from $654.00 million to $662.30 million. Zacks’ sales averages 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 data on Wednesday, October 23rd. The financial services provider reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.03). First Interstate Bancsystem had a return on equity of 10.21% and a net margin of 24.33%. The business had revenue of $166.30 million during the quarter, compared to the consensus estimate of $167.38 million.
First Interstate Bancsystem stock opened at $41.14 on Tuesday. The firm has a 50 day moving average of $41.79 and a 200 day moving average of $40.65. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 1.66 and a beta of 1.17. First Interstate Bancsystem has a 12-month low of $36.57 and a 12-month high of $43.83. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.05.
In other First Interstate Bancsystem news, CEO Kevin P. Riley acquired 1,300 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $42.09 per share, for a total transaction of $54,717.00. Following the completion of the transaction, the chief executive officer now directly owns 21,930 shares of the company’s stock, valued at $923,033.70. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James R. Scott, Jr. sold 3,778 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.63, for a total value of $164,834.14. Following the completion of the sale, the director now owns 44,543 shares of the company’s stock, valued at $1,943,411.09. The disclosure for this sale can be found here. Insiders sold 5,894 shares of company stock valued at $255,378 over the last 90 days. Company insiders own 24.93% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new position in First Interstate Bancsystem in the second quarter valued at $83,000. Bank of Montreal Can lifted its holdings in shares of First Interstate Bancsystem by 191.2% in the 2nd quarter. Bank of Montreal Can now owns 4,744 shares of the financial services provider’s stock worth $188,000 after acquiring an additional 3,115 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of First Interstate Bancsystem by 94.3% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,051 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 2,451 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of First Interstate Bancsystem in the 2nd quarter worth approximately $207,000. Finally, United Services Automobile Association bought a new stake in shares of First Interstate Bancsystem in the 2nd quarter worth approximately $233,000. Hedge funds and other institutional investors own 49.61% of the company’s stock.
First Interstate Bancsystem Company Profile
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. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.
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