$0.65 Earnings Per Share Expected for First Interstate Bancsystem Inc (FIBK) This Quarter
Wall Street analysts expect First Interstate Bancsystem Inc (NASDAQ:FIBK) to report $0.65 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have issued estimates for First Interstate Bancsystem’s earnings. The lowest EPS estimate is $0.63 and the highest is $0.66. First Interstate Bancsystem reported earnings of $0.57 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 14%. The business is expected to report its next quarterly earnings results after the market closes on Tuesday, January 30th.
According to Zacks, analysts expect that First Interstate Bancsystem will report full-year earnings of $2.34 per share for the current financial year, with EPS estimates ranging from $2.33 to $2.35. For the next fiscal year, analysts expect that the firm will report earnings of $2.71 per share, with EPS estimates ranging from $2.55 to $2.92. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow First Interstate Bancsystem.
A number of analysts have weighed in on the company. Barclays set a $43.00 price target on First Interstate Bancsystem and gave the stock a “buy” rating in a report on Wednesday, October 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $45.00 price target on shares of First Interstate Bancsystem in a report on Friday, December 22nd. Finally, Zacks Investment Research upgraded First Interstate Bancsystem from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $44.75.
In other news, Director Ross E. Leckie sold 1,500 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $38.85, for a total value of $58,275.00. Following the completion of the sale, the director now directly owns 23,028 shares in the company, valued at approximately $894,637.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jonathan R. Scott sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $37.33, for a total value of $933,250.00. Following the completion of the sale, the director now owns 5,556 shares of the company’s stock, valued at $207,405.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 114,525 shares of company stock valued at $4,240,874. 38.22% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of First Interstate Bancsystem in the 3rd quarter valued at about $105,000. BNP Paribas Arbitrage SA grew its stake in shares of First Interstate Bancsystem by 622.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,970 shares of the financial services provider’s stock valued at $110,000 after buying an additional 2,559 shares during the period. Quantbot Technologies LP grew its stake in shares of First Interstate Bancsystem by 955.6% in the 2nd quarter. Quantbot Technologies LP now owns 3,019 shares of the financial services provider’s stock valued at $112,000 after buying an additional 2,733 shares during the period. Brandywine Global Investment Management LLC acquired a new stake in shares of First Interstate Bancsystem in the 2nd quarter valued at about $142,000. Finally, Victory Capital Management Inc. grew its stake in shares of First Interstate Bancsystem by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,531 shares of the financial services provider’s stock valued at $169,000 after buying an additional 680 shares during the period. Institutional investors own 45.22% of the company’s stock.
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About First Interstate Bancsystem
First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.
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