First Interstate Bancsystem Inc (FIBK) Expected to Post Quarterly Sales of $144.93 Million
Equities research analysts expect First Interstate Bancsystem Inc (NASDAQ:FIBK) to post $144.93 million in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for First Interstate Bancsystem’s earnings, with estimates ranging from $141.03 million to $148.63 million. First Interstate Bancsystem reported sales of $139.07 million during the same quarter last year, which indicates a positive year over year growth rate of 4.2%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, October 24th.
According to Zacks, analysts expect that First Interstate Bancsystem will report full-year sales of $577.45 million for the current financial year, with estimates ranging from $571.90 million to $582.70 million. For the next year, analysts expect that the business will report sales of $655.43 million, with estimates ranging from $645.00 million to $663.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for First Interstate Bancsystem.
First Interstate Bancsystem (NASDAQ:FIBK) last posted its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.74 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.74. The business had revenue of $141.40 million for 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%.
NASDAQ:FIBK traded down $0.12 on Friday, reaching $43.08. 221,203 shares of the company’s stock traded hands, compared to its average volume of 312,509. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.07. The stock has a market cap of $2.45 billion, a PE ratio of 21.43, a P/E/G ratio of 1.62 and a beta of 1.10. First Interstate Bancsystem has a 12 month low of $36.00 and a 12 month high of $47.05.
In other news, Director Ross E. Leckie sold 4,000 shares of the firm’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 transaction, the director now owns 17,599 shares in the company, valued at $807,970.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John M. Heyneman, Jr. sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $41.87, for a total value of $41,870.00. Following the transaction, the director now owns 3,621 shares of the company’s stock, valued at approximately $151,611.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,000 shares of company stock valued at $300,210. Company insiders own 40.23% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. ICM Asset Management Inc. WA purchased a new position in shares of First Interstate Bancsystem during the third quarter valued at about $9,647,000. Northern Trust Corp grew its position in shares of First Interstate Bancsystem by 15.4% during the second quarter. Northern Trust Corp now owns 491,137 shares of the financial services provider’s stock valued at $20,727,000 after purchasing an additional 65,493 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of First Interstate Bancsystem by 3.6% during the second quarter. Bank of New York Mellon Corp now owns 2,525,997 shares of the financial services provider’s stock valued at $106,597,000 after purchasing an additional 87,106 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of First Interstate Bancsystem by 29.4% during the second quarter. Advisors Asset Management Inc. now owns 32,487 shares of the financial services provider’s stock valued at $1,371,000 after purchasing an additional 7,384 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in shares of First Interstate Bancsystem by 89.3% during the second quarter. California Public Employees Retirement System now owns 75,858 shares of the financial services provider’s stock valued at $3,201,000 after purchasing an additional 35,780 shares in the last quarter. Hedge funds and other institutional investors own 49.96% 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.
Featured Story: Retained Earnings
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.