Zacks: Analysts Expect First Interstate BancSystem (FIBK) Will Post Quarterly Sales of $139.12 Million

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Analysts forecast that First Interstate BancSystem (NASDAQ:FIBK) will announce $139.12 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for First Interstate BancSystem’s earnings, with the lowest sales estimate coming in at $137.67 million and the highest estimate coming in at $139.91 million. First Interstate BancSystem posted sales of $116.50 million in the same quarter last year, which suggests a positive year over year growth rate of 19.4%. The firm is scheduled to announce its next earnings results after the market closes on Wednesday, July 25th.

According to Zacks, analysts expect that First Interstate BancSystem will report full year sales of $567.68 million for the current fiscal year, with estimates ranging from $558.38 million to $574.70 million. For the next financial year, analysts expect that the business will report sales of $630.13 million per share, with estimates ranging from $609.66 million to $642.45 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow First Interstate BancSystem.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data on Wednesday, April 25th. The financial services provider reported $0.68 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.68. The company had revenue of $135.00 million during the quarter, compared to analyst estimates of $136.17 million. First Interstate BancSystem had a return on equity of 9.50% and a net margin of 21.49%.

Several equities research analysts have issued reports on FIBK shares. Zacks Investment Research lowered First Interstate BancSystem from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. BidaskClub raised First Interstate BancSystem from a “hold” rating to a “buy” rating in a research note on Thursday, April 26th. FIG Partners raised First Interstate BancSystem from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 26th. ValuEngine raised First Interstate BancSystem from a “hold” rating to a “buy” rating in a research note on Tuesday, May 22nd. Finally, Sandler O’Neill reissued a “buy” rating and issued a $46.00 target price on shares of First Interstate BancSystem in a research note on Thursday, March 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $45.50.

In related news, Director Randall I. Scott sold 6,000 shares of the business’s stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $43.88, for a total transaction of $263,280.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jonathan R. Scott sold 19,623 shares of the business’s stock in a transaction dated Thursday, May 24th. The shares were sold at an average price of $43.85, for a total value of $860,468.55. Following the transaction, the director now owns 4,292 shares in the company, valued at approximately $188,204.20. The disclosure for this sale can be found here. In the last three months, insiders sold 46,867 shares of company stock valued at $1,996,912. 40.23% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in shares of First Interstate BancSystem during the 1st quarter worth approximately $107,000. Envestnet Asset Management Inc. grew its holdings in shares of First Interstate BancSystem by 68.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,507 shares of the financial services provider’s stock worth $178,000 after acquiring an additional 1,829 shares during the period. FSI Group LLC grew its holdings in shares of First Interstate BancSystem by 168.3% during the 1st quarter. FSI Group LLC now owns 5,113 shares of the financial services provider’s stock worth $202,000 after acquiring an additional 3,207 shares during the period. Xact Kapitalforvaltning AB purchased a new position in shares of First Interstate BancSystem during the 4th quarter worth approximately $217,000. Finally, Stevens Capital Management LP purchased a new position in shares of First Interstate BancSystem during the 1st quarter worth approximately $219,000. Hedge funds and other institutional investors own 46.59% of the company’s stock.

NASDAQ:FIBK traded down $0.20 during trading hours on Friday, hitting $42.50. 109,724 shares of the company’s stock traded hands, compared to its average volume of 239,647. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 21.14, a P/E/G ratio of 1.61 and a beta of 1.16. First Interstate BancSystem has a 52 week low of $33.33 and a 52 week high of $44.95. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.78 and a current ratio of 0.78.

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.

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Earnings History and Estimates for First Interstate BancSystem (NASDAQ:FIBK)

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