First Interstate BancSystem, Inc. (FIBK) Expected to Announce Quarterly Sales of $138.00 Million

Wall Street analysts expect First Interstate BancSystem, Inc. (NASDAQ:FIBK) to post sales of $138.00 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for First Interstate BancSystem’s earnings, with estimates ranging from $137.79 million to $138.22 million. First Interstate BancSystem reported sales of $108.42 million in the same quarter last year, which would suggest a positive year over year growth rate of 27.3%. The business is scheduled to issue its next earnings results on Thursday, January 25th.

According to Zacks, analysts expect that First Interstate BancSystem will report full year sales of $138.00 million for the current financial year, with estimates ranging from $488.50 million to $491.79 million. For the next fiscal year, analysts expect that the business will post sales of $562.09 million per share, with estimates ranging from $550.80 million to $572.76 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for First Interstate BancSystem.

FIBK has been the subject of a number of research reports. Barclays PLC set a $43.00 price target on First Interstate BancSystem and gave the company a “buy” rating in a research report on Wednesday, October 11th. ValuEngine downgraded First Interstate BancSystem from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Zacks Investment Research raised First Interstate BancSystem from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Wednesday, November 1st. Finally, BidaskClub downgraded First Interstate BancSystem from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. First Interstate BancSystem currently has an average rating of “Buy” and a consensus target price of $43.25.

In other First Interstate BancSystem news, Director Ross E. Leckie sold 1,500 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $38.85, for a total transaction of $58,275.00. Following the transaction, the director now owns 23,028 shares in the company, valued at $894,637.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jonathan R. Scott sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $37.33, for a total value of $933,250.00. Following the transaction, the director now owns 5,556 shares in the company, valued at approximately $207,405.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,357 shares of company stock worth $1,941,627. 38.22% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the business. Coldstream Capital Management Inc. acquired a new position in shares of First Interstate BancSystem during the third quarter worth about $576,000. CS Mckee LP lifted its stake in shares of First Interstate BancSystem by 31.1% in the third quarter. CS Mckee LP now owns 33,750 shares of the financial services provider’s stock worth $1,291,000 after acquiring an additional 8,000 shares in the last quarter. Stifel Financial Corp acquired a new position in shares of First Interstate BancSystem in the third quarter worth about $200,000. Dimensional Fund Advisors LP lifted its stake in shares of First Interstate BancSystem by 5.1% in the third quarter. Dimensional Fund Advisors LP now owns 2,309,818 shares of the financial services provider’s stock worth $88,349,000 after acquiring an additional 111,928 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of First Interstate BancSystem by 17.3% in the third quarter. Wells Fargo & Company MN now owns 129,842 shares of the financial services provider’s stock worth $4,967,000 after acquiring an additional 19,174 shares in the last quarter. Institutional investors own 46.41% of the company’s stock.

Shares of First Interstate BancSystem (NASDAQ:FIBK) opened at $37.90 on Monday. The company has a market capitalization of $2,139.65, a price-to-earnings ratio of 16.41, a PEG ratio of 1.79 and a beta of 1.19. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.79 and a quick ratio of 0.79. First Interstate BancSystem has a 1 year low of $33.33 and a 1 year high of $45.35.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 13th. Shareholders of record on Tuesday, October 31st were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend was Monday, October 30th. First Interstate BancSystem’s dividend payout ratio is presently 48.24%.

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About First Interstate BancSystem

First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.

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Earnings History and Estimates for First Interstate BancSystem (NASDAQ:FIBK)

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