First Interstate Bancsystem Inc (FIBK) Expected to Post Quarterly Sales of $144.07 Million
Wall Street brokerages expect First Interstate Bancsystem Inc (NASDAQ:FIBK) to announce sales of $144.07 million for the current quarter, Zacks reports. Four analysts have issued estimates for First Interstate Bancsystem’s earnings, with the lowest sales estimate coming in at $141.03 million and the highest estimate coming in at $148.63 million. First Interstate Bancsystem posted sales of $139.07 million during the same quarter last year, which suggests a positive year over year growth rate of 3.6%. The business is expected to report its next earnings report after the market closes on Wednesday, October 24th.
On average, analysts expect that First Interstate Bancsystem will report full-year sales of $576.43 million for the current financial year, with estimates ranging from $571.82 million to $581.35 million. For the next year, analysts expect that the company will post sales of $641.02 million, with estimates ranging from $636.00 million to $646.46 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow First Interstate Bancsystem.
First Interstate Bancsystem (NASDAQ:FIBK) last posted its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. The company had revenue of $141.40 million during the quarter, compared to analysts’ expectations of $139.12 million. First Interstate Bancsystem had a return on equity of 10.35% and a net margin of 23.86%.
In other First Interstate Bancsystem news, Director Ross E. Leckie sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $45.91, for a total transaction of $183,640.00. Following the completion of the sale, the director now owns 17,599 shares of the company’s stock, valued at $807,970.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John M. Heyneman, Jr. sold 2,000 shares of the business’s stock in a transaction dated Sunday, November 25th. The shares were sold at an average price of $37.35, for a total value of $74,700.00. Following the sale, the director now directly owns 3,621 shares of the company’s stock, valued at approximately $135,244.35. The disclosure for this sale can be found here. Insiders have sold 7,000 shares of company stock valued at $300,210 in the last three months. 40.23% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Martingale Asset Management L P grew its holdings in First Interstate Bancsystem by 121.2% during the second quarter. Martingale Asset Management L P now owns 17,701 shares of the financial services provider’s stock valued at $747,000 after purchasing an additional 9,700 shares during the period. Millennium Management LLC grew its holdings in First Interstate Bancsystem by 17.5% during the second quarter. Millennium Management LLC now owns 1,087,515 shares of the financial services provider’s stock valued at $45,893,000 after purchasing an additional 161,679 shares during the period. Metropolitan Life Insurance Co. NY grew its holdings in First Interstate Bancsystem by 31.8% during the second quarter. Metropolitan Life Insurance Co. NY now owns 10,790 shares of the financial services provider’s stock valued at $455,000 after purchasing an additional 2,605 shares during the period. Federated Investors Inc. PA grew its holdings in First Interstate Bancsystem by 40.5% during the second quarter. Federated Investors Inc. PA now owns 290,308 shares of the financial services provider’s stock valued at $12,251,000 after purchasing an additional 83,621 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in First Interstate Bancsystem by 42.1% during the second quarter. Wells Fargo & Company MN now owns 243,814 shares of the financial services provider’s stock valued at $10,288,000 after purchasing an additional 72,228 shares during the period. 49.94% of the stock is owned by institutional investors and hedge funds.
First Interstate Bancsystem stock opened at $43.20 on Friday. The firm has a market cap of $2.54 billion, a P/E ratio of 21.49, a PEG ratio of 1.67 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.79 and a quick ratio of 0.79. First Interstate Bancsystem has a one year low of $36.00 and a one year high of $47.05.
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. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for First Interstate Bancsystem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Interstate Bancsystem and related companies with MarketBeat.com's FREE daily email newsletter.