First Interstate BancSystem (FIBK) Scheduled to Post Earnings on Thursday

First Interstate BancSystem (NASDAQ:FIBK – Get Rating) is set to release its earnings data after the market closes on Thursday, January 26th. Analysts expect First Interstate BancSystem to post earnings of $1.05 per share for the quarter. Persons that wish to listen to the company’s conference call can do so using this link.

First Interstate BancSystem (NASDAQ:FIBK – Get Rating) last issued its quarterly earnings data on Tuesday, October 25th. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.09. First Interstate BancSystem had a return on equity of 9.58% and a net margin of 16.71%. The firm had revenue of $291.80 million during the quarter, compared to analyst estimates of $299.74 million. During the same quarter last year, the firm earned $0.86 EPS. First Interstate BancSystem’s quarterly revenue was up 75.2% on a year-over-year basis. On average, analysts expect First Interstate BancSystem to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

First Interstate BancSystem Stock Performance

Shares of FIBK opened at $37.21 on Wednesday. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 20.01 and a beta of 0.91. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $40.15 and its two-hundred day moving average is $41.03. First Interstate BancSystem has a 52-week low of $32.40 and a 52-week high of $46.34.

Insider Activity

In related news, CEO Kevin P. Riley sold 2,500 shares of the stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $41.45, for a total transaction of $103,625.00. Following the sale, the chief executive officer now owns 48,549 shares in the company, valued at $2,012,356.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other First Interstate BancSystem news, major shareholder James R. Scott, Jr. sold 10,130 shares of the firm’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $45.00, for a total value of $455,850.00. Following the sale, the insider now directly owns 90,306 shares in the company, valued at $4,063,770. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin P. Riley sold 2,500 shares of the business’s stock in a transaction on Wednesday, December 7th. The shares were sold at an average price of $41.45, for a total transaction of $103,625.00. Following the transaction, the chief executive officer now directly owns 48,549 shares of the company’s stock, valued at approximately $2,012,356.05. The disclosure for this sale can be found here. In the last three months, insiders sold 53,982 shares of company stock valued at $2,405,719. Company insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System increased its stake in shares of First Interstate BancSystem by 0.4% in the third quarter. California State Teachers Retirement System now owns 116,182 shares of the financial services provider’s stock valued at $4,688,000 after purchasing an additional 510 shares during the period. Baird Financial Group Inc. increased its position in First Interstate BancSystem by 29.0% in the 3rd quarter. Baird Financial Group Inc. now owns 15,430 shares of the financial services provider’s stock valued at $622,000 after acquiring an additional 3,468 shares during the period. Jane Street Group LLC bought a new stake in First Interstate BancSystem during the 3rd quarter valued at $1,185,000. Vanguard Group Inc. grew its stake in shares of First Interstate BancSystem by 2.3% in the third quarter. Vanguard Group Inc. now owns 8,723,142 shares of the financial services provider’s stock worth $351,979,000 after purchasing an additional 192,944 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of First Interstate BancSystem by 18.3% during the third quarter. Price T Rowe Associates Inc. MD now owns 36,549 shares of the financial services provider’s stock valued at $1,475,000 after purchasing an additional 5,659 shares during the period. 77.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FIBK has been the topic of several recent analyst reports. StockNews.com cut shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Wednesday, October 26th. Wells Fargo & Company increased their price target on shares of First Interstate BancSystem from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, October 6th. Piper Sandler boosted their price objective on First Interstate BancSystem to $54.00 in a report on Friday, September 30th. Finally, Stephens upped their price objective on First Interstate BancSystem from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Monday, October 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $47.40.

First Interstate BancSystem Company Profile

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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. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.