Brokerages Anticipate First Interstate Bancsystem Inc (FIBK) to Announce $0.65 EPS

Wall Street brokerages expect First Interstate Bancsystem Inc (NASDAQ:FIBK) to report earnings per share of $0.65 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for First Interstate Bancsystem’s earnings, with estimates ranging from $0.63 to $0.66. First Interstate Bancsystem reported earnings per share of $0.57 in the same quarter last year, which would indicate a positive year over year growth rate of 14%. The business is expected to issue its next quarterly earnings report after the market closes on Tuesday, January 30th.

According to Zacks, analysts expect that First Interstate Bancsystem will report full-year earnings of $2.34 per share for the current year, with EPS estimates ranging from $2.33 to $2.34. For the next financial year, analysts anticipate that the company will report earnings of $2.71 per share, with EPS estimates ranging from $2.55 to $2.92. Zacks’ EPS calculations are an average based on a survey of research analysts that follow First Interstate Bancsystem.

FIBK has been the subject of a number of research reports. Barclays set a $43.00 target price on First Interstate Bancsystem and gave the stock a “buy” rating in a report on Wednesday, October 11th. 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 note on Wednesday, November 1st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $45.00 price target on shares of First Interstate Bancsystem in a research note on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $44.75.

In related news, Director Ross E. Leckie sold 2,000 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $39.61, for a total value of $79,220.00. Following the completion of the transaction, the director now owns 21,028 shares of the company’s stock, valued at $832,919.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Randall I. Scott sold 6,175 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $40.46, for a total value of $249,840.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,525 shares of company stock valued at $4,240,874. 38.22% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in FIBK. Great West Life Assurance Co. Can grew its position in First Interstate Bancsystem by 38.3% in the second quarter. Great West Life Assurance Co. Can now owns 4,611 shares of the financial services provider’s stock valued at $171,000 after acquiring an additional 1,278 shares during the last quarter. Rhumbline Advisers grew its position in First Interstate Bancsystem by 24.5% in the second quarter. Rhumbline Advisers now owns 43,344 shares of the financial services provider’s stock valued at $1,612,000 after acquiring an additional 8,534 shares during the last quarter. Legal & General Group Plc grew its position in First Interstate Bancsystem by 34.4% in the second quarter. Legal & General Group Plc now owns 6,357 shares of the financial services provider’s stock valued at $236,000 after acquiring an additional 1,627 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in First Interstate Bancsystem by 622.6% in the second quarter. BNP Paribas Arbitrage SA now owns 2,970 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 2,559 shares during the last quarter. Finally, Federated Investors Inc. PA grew its position in First Interstate Bancsystem by 5.0% in the second quarter. Federated Investors Inc. PA now owns 16,337 shares of the financial services provider’s stock valued at $608,000 after acquiring an additional 775 shares during the last quarter. Hedge funds and other institutional investors own 45.22% of the company’s stock.

First Interstate Bancsystem (NASDAQ FIBK) traded down $0.40 on Tuesday, hitting $40.40. The stock had a trading volume of 118,400 shares, compared to its average volume of 150,900. First Interstate Bancsystem has a 12 month low of $33.33 and a 12 month high of $45.35. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $2,280.00, a P/E ratio of 20.20, a P/E/G ratio of 1.67 and a beta of 1.18.

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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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