First Interstate BancSystem (FIBK) Set to Announce Earnings on Thursday

First Interstate BancSystem (NASDAQ:FIBK – Get Rating) is scheduled to be announcing its earnings results after the market closes on Thursday, January 26th. Analysts expect the company to announce earnings of $1.05 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

First Interstate BancSystem (NASDAQ:FIBK – Get Rating) last issued its quarterly earnings results on Tuesday, October 25th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.09. The business had revenue of $291.80 million for the quarter, compared to analyst estimates of $299.74 million. First Interstate BancSystem had a net margin of 16.71% and a return on equity of 9.58%. The business’s revenue was up 75.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 earnings per share. 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 Price Performance

Shares of NASDAQ:FIBK opened at $37.21 on Wednesday. First Interstate BancSystem has a 52 week low of $32.40 and a 52 week high of $46.34. The company has a 50-day moving average price of $40.15 and a 200 day moving average price of $41.03. The company has a market cap of $3.89 billion, a P/E 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.

Insider Buying and Selling

In other First Interstate BancSystem news, Director Jonathan R. Scott sold 30,000 shares of First Interstate BancSystem stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $44.16, for a total transaction of $1,324,800.00. Following the completion of the transaction, the director now owns 963,853 shares in the company, valued at $42,563,748.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, major shareholder James R. Scott, Jr. sold 10,130 shares of First Interstate BancSystem stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $45.00, for a total transaction of $455,850.00. Following the completion of the sale, the insider now owns 90,306 shares in the company, valued at approximately $4,063,770. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jonathan R. Scott sold 30,000 shares of the business’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $44.16, for a total transaction of $1,324,800.00. Following the completion of the transaction, the director now directly owns 963,853 shares of the company’s stock, valued at approximately $42,563,748.48. The disclosure for this sale can be found here. Insiders have sold 53,982 shares of company stock worth $2,405,719 in the last three months. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On First Interstate BancSystem

A number of hedge funds and other institutional investors have recently modified their holdings of FIBK. Vanguard Group Inc. lifted its stake in shares of First Interstate BancSystem by 2.3% during the third quarter. Vanguard Group Inc. now owns 8,723,142 shares of the financial services provider’s stock valued at $351,979,000 after buying an additional 192,944 shares during the period. BlackRock Inc. boosted its holdings in shares of First Interstate BancSystem by 61.3% during the first quarter. BlackRock Inc. now owns 8,710,578 shares of the financial services provider’s stock worth $320,287,000 after purchasing an additional 3,311,462 shares during the last quarter. Macquarie Group Ltd. grew its position in shares of First Interstate BancSystem by 2.1% in the second quarter. Macquarie Group Ltd. now owns 5,691,848 shares of the financial services provider’s stock valued at $216,936,000 after purchasing an additional 118,736 shares during the period. State Street Corp increased its stake in First Interstate BancSystem by 152.8% in the first quarter. State Street Corp now owns 4,344,413 shares of the financial services provider’s stock valued at $159,744,000 after purchasing an additional 2,626,221 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in First Interstate BancSystem by 160.8% during the first quarter. Wellington Management Group LLP now owns 2,707,881 shares of the financial services provider’s stock worth $99,569,000 after buying an additional 1,669,427 shares during the period. 77.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on FIBK. Stephens raised their price target on First Interstate BancSystem from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Monday, October 31st. Piper Sandler boosted their target price on shares of First Interstate BancSystem to $54.00 in a research report on Friday, September 30th. StockNews.com downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Wednesday, October 26th. Finally, Wells Fargo & Company boosted their price objective on shares of First Interstate BancSystem from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, October 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.