$151.84 Million in Sales Expected for First Interstate Bancsystem Inc (FIBK) This Quarter
Equities research analysts expect First Interstate Bancsystem Inc (NASDAQ:FIBK) to announce sales of $151.84 million for the current quarter, Zacks reports. Five analysts have provided estimates for First Interstate Bancsystem’s earnings, with the lowest sales estimate coming in at $149.40 million and the highest estimate coming in at $154.10 million. First Interstate Bancsystem reported sales of $135.00 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.5%. The firm is scheduled to announce its next earnings results after the market closes on Thursday, April 25th.
According to Zacks, analysts expect that First Interstate Bancsystem will report full year sales of $655.78 million for the current fiscal year, with estimates ranging from $647.33 million to $665.27 million. For the next financial year, analysts anticipate that the business will report sales of $697.07 million, with estimates ranging from $679.00 million to $722.56 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for First Interstate Bancsystem.
First Interstate Bancsystem (NASDAQ:FIBK) last announced its earnings results on Wednesday, January 30th. The financial services provider reported $0.76 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.76. First Interstate Bancsystem had a return on equity of 10.93% and a net margin of 25.98%. The firm had revenue of $153.20 million for the quarter, compared to the consensus estimate of $151.76 million.
FIBK stock traded down $0.94 on Tuesday, hitting $41.56. 132,445 shares of the company’s stock were exchanged, compared to its average volume of 190,702. First Interstate Bancsystem has a 12-month low of $34.61 and a 12-month high of $47.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 1.48 and a beta of 1.15.
In other First Interstate Bancsystem news, Director Jonathan R. Scott sold 15,670 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $41.14, for a total transaction of $644,663.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ross E. Leckie sold 2,204 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $42.13, for a total value of $92,854.52. Following the sale, the director now owns 17,027 shares in the company, valued at approximately $717,347.51. The disclosure for this sale can be found here. 24.93% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of FIBK. FMR LLC grew its stake in First Interstate Bancsystem by 150.2% during the 4th quarter. FMR LLC now owns 1,340,663 shares of the financial services provider’s stock valued at $49,014,000 after purchasing an additional 804,884 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of First Interstate Bancsystem by 1,056,289.3% in the 3rd quarter. Clearbridge Investments LLC now owns 792,292 shares of the financial services provider’s stock valued at $35,495,000 after buying an additional 792,217 shares during the period. Vanguard Group Inc. lifted its holdings in shares of First Interstate Bancsystem by 14.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,855,431 shares of the financial services provider’s stock valued at $127,924,000 after buying an additional 349,804 shares during the period. Vanguard Group Inc lifted its holdings in shares of First Interstate Bancsystem by 14.0% in the 3rd quarter. Vanguard Group Inc now owns 2,855,431 shares of the financial services provider’s stock valued at $127,924,000 after buying an additional 349,804 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of First Interstate Bancsystem by 13.6% in the 4th quarter. BlackRock Inc. now owns 2,472,238 shares of the financial services provider’s stock valued at $90,384,000 after buying an additional 295,345 shares during the period. Institutional investors and hedge funds own 49.56% 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. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.
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