DA Davidson Issues Optimistic Forecast for FIBK Earnings

Key Points

• DA Davidson has increased its FY2025 earnings per share estimate for First Interstate BancSystem to $2.45, compared to a prior estimate of $2.32, while the consensus estimate is $2.53.
• First Interstate BancSystem's recently declared quarterly dividend of $0.47 per share, payable on August 21st, gives it an annualized yield of 6.6%.
• Multiple analysts have upgraded their ratings on First Interstate BancSystem, with Barclays adjusting its price target from $28.00 to $32.00 and changing its rating from "underweight" to "equal weight."

First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) - Research analysts at DA Davidson increased their FY2025 EPS estimates for First Interstate BancSystem in a report released on Thursday, July 31st. DA Davidson analyst J. Rulis now expects that the financial services provider will post earnings of $2.45 per share for the year, up from their previous estimate of $2.32. The consensus estimate for First Interstate BancSystem's current full-year earnings is $2.53 per share. DA Davidson also issued estimates for First Interstate BancSystem's FY2026 earnings at $2.65 EPS.

Other analysts have also issued research reports about the stock. Barclays upgraded shares of First Interstate BancSystem from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $28.00 to $32.00 in a research note on Tuesday, July 8th. Wall Street Zen raised First Interstate BancSystem from a "sell" rating to a "hold" rating in a research note on Sunday. Keefe, Bruyette & Woods raised First Interstate BancSystem from a "hold" rating to a "moderate buy" rating and set a $32.00 target price on the stock in a research report on Monday, June 23rd. Finally, Wells Fargo & Company upped their price objective on First Interstate BancSystem from $25.00 to $28.00 and gave the stock an "underweight" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $35.43.

First Interstate BancSystem Stock Performance

Shares of FIBK traded down $0.35 during mid-day trading on Monday, reaching $28.82. 430,945 shares of the company's stock were exchanged, compared to its average volume of 831,936. The business's fifty day simple moving average is $28.89 and its 200-day simple moving average is $28.89. The stock has a market capitalization of $3.02 billion, a PE ratio of 12.98 and a beta of 0.83. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.77 and a quick ratio of 0.77. First Interstate BancSystem has a 52-week low of $22.95 and a 52-week high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.12. First Interstate BancSystem had a net margin of 14.93% and a return on equity of 6.86%. The business had revenue of $248.30 million for the quarter, compared to analysts' expectations of $253.73 million. During the same quarter in the previous year, the business posted $0.58 earnings per share. The business's revenue was up 1.6% compared to the same quarter last year.

First Interstate BancSystem Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Monday, August 11th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 6.5%. The ex-dividend date is Monday, August 11th. First Interstate BancSystem's dividend payout ratio is 84.68%.

Insider Activity

In other news, major shareholder Susan Scott Heyneman Trust, Su sold 55,000 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $27.86, for a total value of $1,532,300.00. Following the transaction, the insider owned 529,256 shares of the company's stock, valued at approximately $14,745,072.16. This trade represents a 9.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.20% of the company's stock.

Institutional Trading of First Interstate BancSystem

Several large investors have recently made changes to their positions in FIBK. Wood Tarver Financial Group LLC bought a new stake in First Interstate BancSystem during the fourth quarter worth $26,000. JNBA Financial Advisors bought a new position in First Interstate BancSystem during the first quarter valued at approximately $29,000. GAMMA Investing LLC grew its position in First Interstate BancSystem by 186.5% in the 2nd quarter. GAMMA Investing LLC now owns 994 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 647 shares during the last quarter. Quarry LP increased its position in First Interstate BancSystem by 63.8% during the 1st quarter. Quarry LP now owns 1,155 shares of the financial services provider's stock valued at $33,000 after buying an additional 450 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in First Interstate BancSystem by 25.8% in the fourth quarter. Covestor Ltd now owns 2,485 shares of the financial services provider's stock valued at $81,000 after purchasing an additional 510 shares during the last quarter. Institutional investors and hedge funds own 88.71% of the company's stock.

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.