First Interstate BancSystem (NASDAQ:FIBK) Issues Quarterly Earnings Results

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) released its earnings results on Tuesday. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07), Zacks reports. The business had revenue of $42.00 million for the quarter, compared to analyst estimates of $253.50 million. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. The business's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 EPS.

First Interstate BancSystem Price Performance

Shares of First Interstate BancSystem stock traded up $0.40 during trading on Friday, hitting $27.05. 1,126,769 shares of the company were exchanged, compared to its average volume of 650,648. First Interstate BancSystem has a fifty-two week low of $22.95 and a fifty-two week 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 50 day moving average price of $27.58 and a 200 day moving average price of $30.96. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 12.35 and a beta of 0.81.

First Interstate BancSystem Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.95%. First Interstate BancSystem's dividend payout ratio (DPR) is 89.10%.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, Director John M. Heyneman, Jr. sold 1,335 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $32.56, for a total transaction of $43,467.60. Following the sale, the director now directly owns 1,414,886 shares of the company's stock, valued at $46,068,688.16. This trade represents a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

FIBK has been the topic of a number of recent analyst reports. StockNews.com lowered First Interstate BancSystem from a "hold" rating to a "sell" rating in a report on Friday. Piper Sandler cut their price target on shares of First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating for the company in a report on Monday, February 3rd. DA Davidson reiterated a "buy" rating and issued a $42.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Barclays lowered their target price on shares of First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company reduced their price target on shares of First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating for the company in a research report on Wednesday, April 9th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $35.00.

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. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.