Wall Street brokerages forecast that First Interstate Bancsystem Inc (NASDAQ:FIBK) will post sales of $168.20 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for First Interstate Bancsystem's earnings, with the highest sales estimate coming in at $168.80 million and the lowest estimate coming in at $167.60 million. First Interstate Bancsystem posted sales of $166.30 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1.1%. The business is scheduled to issue its next quarterly earnings results on Wednesday, October 28th.
According to Zacks, analysts expect that First Interstate Bancsystem will report full year sales of $673.53 million for the current year, with estimates ranging from $660.00 million to $681.90 million. For the next year, analysts anticipate that the company will post sales of $623.93 million, with estimates ranging from $612.80 million to $631.00 million. Zacks Investment Research's sales calculations are a mean average based on a survey of sell-side research firms that cover First Interstate Bancsystem.
First Interstate Bancsystem (NASDAQ:FIBK) last issued its earnings results on Monday, July 27th. The financial services provider reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.10. First Interstate Bancsystem had a return on equity of 8.59% and a net margin of 23.77%. The firm had revenue of $162.20 million for the quarter, compared to the consensus estimate of $164.47 million.
A number of research analysts have commented on the company. ValuEngine downgraded First Interstate Bancsystem from a "hold" rating to a "sell" rating in a research note on Monday, August 3rd. Piper Sandler boosted their target price on First Interstate Bancsystem from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. Zacks Investment Research downgraded First Interstate Bancsystem from a "hold" rating to a "sell" rating in a research note on Friday, September 4th. BidaskClub raised First Interstate Bancsystem from a "strong sell" rating to a "sell" rating in a research report on Wednesday, September 9th. Finally, TheStreet raised First Interstate Bancsystem from a "c+" rating to a "b" rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of "Hold" and an average target price of $37.33.
Shares of NASDAQ FIBK opened at $32.27 on Monday. The business's 50-day moving average price is $31.61 and its two-hundred day moving average price is $30.60. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.80. First Interstate Bancsystem has a one year low of $24.50 and a one year high of $43.83. The company has a market capitalization of $2.07 billion, a P/E ratio of 12.19 and a beta of 1.15.
In other First Interstate Bancsystem news, CEO Kevin P. Riley acquired 11,000 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average price of $33.10 per share, with a total value of $364,100.00. Following the transaction, the chief executive officer now owns 31,488 shares of the company's stock, valued at $1,042,252.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 21.99% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Demars Financial Group LLC acquired a new position in shares of First Interstate Bancsystem during the 2nd quarter worth about $45,000. Principal Financial Group Inc. raised its holdings in First Interstate Bancsystem by 8.4% in the 2nd quarter. Principal Financial Group Inc. now owns 349,974 shares of the financial services provider's stock valued at $10,835,000 after acquiring an additional 27,043 shares in the last quarter. Handelsbanken Fonder AB acquired a new position in First Interstate Bancsystem in the 2nd quarter valued at approximately $236,000. Nuveen Asset Management LLC raised its holdings in First Interstate Bancsystem by 106.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 523,185 shares of the financial services provider's stock valued at $16,198,000 after acquiring an additional 269,457 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in First Interstate Bancsystem by 13.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 277,271 shares of the financial services provider's stock valued at $8,585,000 after acquiring an additional 33,399 shares in the last quarter. 51.08% of the stock is owned by institutional investors and hedge funds.
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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