Brokerages Anticipate First Interstate Bancsystem Inc (FIBK) Will Announce Quarterly Sales of $152.30 Million

Analysts expect First Interstate Bancsystem Inc (NASDAQ:FIBK) to post $152.30 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for First Interstate Bancsystem’s earnings. The lowest sales estimate is $149.40 million and the highest is $154.10 million. First Interstate Bancsystem posted sales of $135.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 12.8%. The firm is expected to report its next quarterly earnings results after the market closes on Thursday, April 25th.

On average, analysts expect that First Interstate Bancsystem will report full-year sales of $657.47 million for the current financial year, with estimates ranging from $647.33 million to $665.27 million. For the next financial year, analysts anticipate that the firm will report sales of $701.59 million, with estimates ranging from $684.30 million to $722.56 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for First Interstate Bancsystem.

First Interstate Bancsystem (NASDAQ:FIBK) last released its earnings results on Wednesday, January 30th. The financial services provider reported $0.76 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.76. The company had revenue of $153.20 million during the quarter, compared to analysts’ expectations of $151.76 million. First Interstate Bancsystem had a return on equity of 10.93% and a net margin of 25.98%.

Several equities analysts recently issued reports on FIBK shares. Piper Jaffray Companies set a $47.00 price objective on First Interstate Bancsystem and gave the stock a “buy” rating in a research note on Tuesday, April 9th. BidaskClub upgraded First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research note on Saturday, February 9th. Zacks Investment Research upgraded First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research note on Wednesday, February 6th. Robert W. Baird started coverage on First Interstate Bancsystem in a research note on Wednesday, April 10th. They set a “neutral” rating and a $42.00 price objective on the stock. Finally, Stephens started coverage on First Interstate Bancsystem in a research note on Monday, January 14th. They set an “overweight” rating and a $37.90 price objective on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $45.65.

Shares of FIBK opened at $41.43 on Tuesday. First Interstate Bancsystem has a 12-month low of $34.61 and a 12-month high of $47.05. The firm has a market cap of $2.54 billion, a P/E ratio of 14.19, a PEG ratio of 1.45 and a beta of 1.15. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.06.

In other First Interstate Bancsystem news, Director Ross E. Leckie sold 2,204 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $42.13, for a total value of $92,854.52. Following the sale, the director now directly owns 17,027 shares of the company’s stock, valued at $717,347.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan R. Scott sold 15,670 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $41.14, for a total value of $644,663.80. The disclosure for this sale can be found here. Company insiders own 24.93% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new position in shares of First Interstate Bancsystem during the third quarter valued at $563,000. Bank of New York Mellon Corp increased its holdings in shares of First Interstate Bancsystem by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 2,567,209 shares of the financial services provider’s stock valued at $115,012,000 after purchasing an additional 41,212 shares during the period. Naples Global Advisors LLC increased its holdings in shares of First Interstate Bancsystem by 11.3% during the fourth quarter. Naples Global Advisors LLC now owns 17,800 shares of the financial services provider’s stock valued at $673,000 after purchasing an additional 1,800 shares during the period. Natixis Advisors L.P. increased its holdings in shares of First Interstate Bancsystem by 43.3% during the fourth quarter. Natixis Advisors L.P. now owns 14,511 shares of the financial services provider’s stock valued at $531,000 after purchasing an additional 4,387 shares during the period. Finally, MetLife Investment Advisors LLC increased its holdings in shares of First Interstate Bancsystem by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 23,706 shares of the financial services provider’s stock valued at $1,062,000 after purchasing an additional 8,427 shares during the period. 49.56% of the stock is currently owned by hedge funds and other institutional investors.

About First Interstate Bancsystem

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.

Featured Article: Using other technical indicators with support levels

Get a free copy of the Zacks research report on First Interstate Bancsystem (FIBK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for First Interstate Bancsystem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Interstate Bancsystem and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit