First Interstate BancSystem (NASDAQ:FIBK) Releases Quarterly Earnings Results, Misses Estimates By $0.07 EPS

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) issued its quarterly earnings results on Tuesday. The financial services provider reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07), Zacks reports. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%.

First Interstate BancSystem Stock Down 1.0 %

NASDAQ:FIBK traded down $0.29 during trading hours on Tuesday, reaching $27.79. The company had a trading volume of 1,234,068 shares, compared to its average volume of 638,357. First Interstate BancSystem has a twelve month low of $22.95 and a twelve month high of $36.77. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 12.69 and a beta of 0.81. The business's 50-day simple moving average is $27.92 and its two-hundred day simple moving average is $31.09.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FIBK. Wells Fargo & Company reduced their price target on First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 9th. DA Davidson reiterated a "buy" rating and issued a $42.00 target price on shares of First Interstate BancSystem in a report on Thursday, January 30th. Barclays lowered their price target on shares of First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. StockNews.com raised shares of First Interstate BancSystem from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Stephens lowered their target price on shares of First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $35.00.

Insider Activity

In related news, Director John M. Heyneman, Jr. sold 1,335 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $32.56, for a total value of $43,467.60. Following the completion of the sale, the director now directly owns 1,414,886 shares of the company's stock, valued at $46,068,688.16. The trade was a 0.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 8.20% 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.

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