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.
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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