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

First Interstate BancSystem (NASDAQ:FIBK) will post its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect First Interstate BancSystem to post earnings of $0.53 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. First Interstate BancSystem had a return on equity of 8.47% and a net margin of 18.04%. The company had revenue of $252.30 million during the quarter, compared to analyst estimates of $254.50 million. On average, analysts expect First Interstate BancSystem to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

First Interstate BancSystem Stock Down 2.0 %

Shares of NASDAQ:FIBK opened at $24.37 on Wednesday. First Interstate BancSystem has a 1 year low of $20.81 and a 1 year high of $32.54. The company has a market cap of $2.53 billion, a PE ratio of 9.83 and a beta of 0.87. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.77 and a quick ratio of 0.76. The stock’s 50-day moving average is $26.07 and its 200 day moving average is $26.62.

First Interstate BancSystem Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 19th. Investors of record on Friday, February 9th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 7.71%. The ex-dividend date of this dividend was Thursday, February 8th. This is an increase from First Interstate BancSystem’s previous quarterly dividend of $0.20. First Interstate BancSystem’s payout ratio is currently 75.81%.

Insider Buying and Selling

In related news, EVP Kristina Robbins sold 2,710 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $25.83, for a total value of $69,999.30. Following the transaction, the executive vice president now directly owns 9,047 shares of the company’s stock, valued at approximately $233,684.01. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Karlyn M. Knieriem sold 2,900 shares of First Interstate BancSystem stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $26.76, for a total value of $77,604.00. Following the sale, the executive vice president now directly owns 20,599 shares of the company’s stock, valued at $551,229.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kristina Robbins sold 2,710 shares of First Interstate BancSystem stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $25.83, for a total value of $69,999.30. Following the completion of the sale, the executive vice president now directly owns 9,047 shares in the company, valued at $233,684.01. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,531 shares of company stock valued at $197,645. 6.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors grew its position in First Interstate BancSystem by 14.1% in the second quarter. Captrust Financial Advisors now owns 3,288 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 407 shares in the last quarter. Advisor Group Holdings Inc. boosted its position in shares of First Interstate BancSystem by 5.7% during the first quarter. Advisor Group Holdings Inc. now owns 7,822 shares of the financial services provider’s stock valued at $288,000 after buying an additional 422 shares during the period. Mariner LLC boosted its position in shares of First Interstate BancSystem by 3.5% during the third quarter. Mariner LLC now owns 12,897 shares of the financial services provider’s stock valued at $322,000 after buying an additional 432 shares during the period. California State Teachers Retirement System boosted its position in shares of First Interstate BancSystem by 0.4% during 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 buying an additional 510 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of First Interstate BancSystem by 9.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 5,941 shares of the financial services provider’s stock valued at $230,000 after buying an additional 521 shares during the period. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FIBK shares. Barclays started coverage on First Interstate BancSystem in a report on Friday, March 8th. They set an “equal weight” rating and a $28.00 target price on the stock. Wells Fargo & Company upped their target price on First Interstate BancSystem from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Finally, TheStreet downgraded First Interstate BancSystem from a “b-” rating to a “c+” rating in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $29.00.

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