DA Davidson Weighs in on First Interstate BancSystem, Inc.’s Q2 2024 Earnings (NASDAQ:FIBK)

First Interstate BancSystem, Inc. (NASDAQ:FIBK) – Analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of First Interstate BancSystem in a research note issued to investors on Monday, April 29th. DA Davidson analyst J. Rulis expects that the financial services provider will post earnings per share of $0.56 for the quarter. The consensus estimate for First Interstate BancSystem’s current full-year earnings is $2.17 per share. DA Davidson also issued estimates for First Interstate BancSystem’s FY2025 earnings at $2.60 EPS.

Other analysts also recently issued reports about the stock. Piper Sandler boosted their target price on shares of First Interstate BancSystem from $32.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday. Stephens reiterated an “overweight” rating and set a $32.00 price objective on shares of First Interstate BancSystem in a report on Thursday, April 25th. Barclays boosted their target price on First Interstate BancSystem from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Keefe, Bruyette & Woods boosted their price target on First Interstate BancSystem from $28.00 to $29.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. Finally, TheStreet cut shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $30.20.

First Interstate BancSystem Stock Down 1.4 %

Shares of NASDAQ:FIBK opened at $26.70 on Tuesday. The firm has a 50 day simple moving average of $26.12 and a 200 day simple moving average of $26.76. First Interstate BancSystem has a 52 week low of $20.81 and a 52 week high of $32.54. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.76 and a current ratio of 0.77. The company has a market cap of $2.78 billion, a PE ratio of 10.64 and a beta of 0.87.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Tuesday, January 30th. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.55%. The company had revenue of $252.30 million during the quarter, compared to analysts’ expectations of $254.50 million.

First Interstate BancSystem Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 7.04%. The ex-dividend date is Friday, May 3rd. First Interstate BancSystem’s payout ratio is 74.90%.

Insider Buying and Selling

In related news, EVP Karlyn M. Knieriem sold 2,900 shares of First Interstate BancSystem stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $26.76, for a total value of $77,604.00. Following the transaction, the executive vice president now owns 20,599 shares in the company, valued at approximately $551,229.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other First Interstate BancSystem news, EVP Karlyn M. Knieriem sold 2,900 shares of the firm’s stock in a transaction that occurred on 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 owns 20,599 shares of the company’s stock, valued at approximately $551,229.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kristina Robbins sold 2,710 shares of First Interstate BancSystem stock in a transaction that occurred 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 completion of the transaction, 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 sold 7,531 shares of company stock valued at $197,645. Company insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FIBK. Caprock Group LLC raised its stake in shares of First Interstate BancSystem by 1.8% in the 1st quarter. Caprock Group LLC now owns 25,251 shares of the financial services provider’s stock valued at $687,000 after buying an additional 437 shares in the last quarter. Commonwealth Equity Services LLC raised its position in First Interstate BancSystem by 4.2% in the first quarter. Commonwealth Equity Services LLC now owns 49,982 shares of the financial services provider’s stock worth $1,360,000 after purchasing an additional 2,015 shares in the last quarter. Peregrine Capital Management LLC raised its position in First Interstate BancSystem by 7.5% in the first quarter. Peregrine Capital Management LLC now owns 270,727 shares of the financial services provider’s stock worth $7,366,000 after purchasing an additional 18,856 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in First Interstate BancSystem by 28.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,378 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 744 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in First Interstate BancSystem by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 9,180,595 shares of the financial services provider’s stock valued at $282,303,000 after purchasing an additional 533,293 shares in the last quarter. Institutional investors and hedge funds own 88.71% of the company’s stock.

First Interstate BancSystem Company Profile

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.