First Interstate BancSystem (FIBK) Set to Announce Earnings on Thursday

First Interstate BancSystem (NASDAQ:FIBK – Get Rating) is scheduled to release its earnings data after the market closes on Thursday, January 26th. Analysts expect First Interstate BancSystem to post earnings of $1.05 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

First Interstate BancSystem (NASDAQ:FIBK – Get Rating) last released its earnings results on Tuesday, October 25th. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.09. The company had revenue of $291.80 million during the quarter, compared to the consensus estimate of $299.74 million. First Interstate BancSystem had a return on equity of 9.58% and a net margin of 16.71%. The firm’s quarterly revenue was up 75.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 earnings per share. On average, analysts expect First Interstate BancSystem to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

First Interstate BancSystem Trading Down 2.0 %

NASDAQ FIBK traded down $0.77 on Tuesday, reaching $37.21. The company had a trading volume of 601,164 shares, compared to its average volume of 476,724. The stock’s 50 day moving average is $40.15 and its 200-day moving average is $41.03. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 20.01 and a beta of 0.91. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.30. First Interstate BancSystem has a 52 week low of $32.40 and a 52 week high of $46.34.

Insider Buying and Selling

In related news, CEO Kevin P. Riley sold 2,500 shares of the stock in a transaction that occurred on Wednesday, December 7th. The stock was sold at an average price of $41.45, for a total transaction of $103,625.00. Following the completion of the sale, the chief executive officer now directly owns 48,549 shares of the company’s stock, valued at approximately $2,012,356.05. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Jonathan R. Scott sold 30,000 shares of the stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $44.16, for a total transaction of $1,324,800.00. Following the completion of the sale, the director now directly owns 963,853 shares of the company’s stock, valued at approximately $42,563,748.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kevin P. Riley sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 7th. The stock was sold at an average price of $41.45, for a total value of $103,625.00. Following the transaction, the chief executive officer now directly owns 48,549 shares of the company’s stock, valued at approximately $2,012,356.05. The disclosure for this sale can be found here. In the last three months, insiders sold 53,982 shares of company stock valued at $2,405,719. 6.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Interstate BancSystem

A number of large investors have recently bought and sold shares of FIBK. PNC Financial Services Group Inc. boosted its position in First Interstate BancSystem by 263.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,081 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 1,508 shares during the last quarter. Captrust Financial Advisors boosted its position in First Interstate BancSystem by 489.2% during the 1st quarter. Captrust Financial Advisors now owns 2,881 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 2,392 shares during the last quarter. Guggenheim Capital LLC acquired a new position in First Interstate BancSystem during the 1st quarter worth approximately $207,000. Great West Life Assurance Co. Can boosted its position in First Interstate BancSystem by 110.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 5,692 shares of the financial services provider’s stock worth $220,000 after acquiring an additional 2,992 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in First Interstate BancSystem by 116.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 6,799 shares of the financial services provider’s stock worth $250,000 after acquiring an additional 3,660 shares during the last quarter. Institutional investors and hedge funds own 77.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Stephens upped their price objective on First Interstate BancSystem from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Monday, October 31st. StockNews.com downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Wednesday, October 26th. Wells Fargo & Company upped their price objective on First Interstate BancSystem from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, October 6th. Finally, Piper Sandler upped their price objective on First Interstate BancSystem to $54.00 in a report on Friday, September 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, First Interstate BancSystem presently has an average rating of “Hold” and a consensus target price of $47.40.

First Interstate BancSystem Company Profile

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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.