First Interstate BancSystem (NASDAQ:FIBK) Announces Earnings Results

First Interstate BancSystem (NASDAQ:FIBK) posted its earnings results on Thursday. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.55 by $0.03, Briefing.com reports. First Interstate BancSystem had a return on equity of 8.22% and a net margin of 17.76%. During the same period in the prior year, the firm earned $0.66 earnings per share.

First Interstate BancSystem Stock Up 0.6 %

Shares of NASDAQ FIBK traded up $0.20 during mid-day trading on Friday, reaching $32.35. 744,771 shares of the company’s stock traded hands, compared to its average volume of 803,161. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.78 and a quick ratio of 0.78. The business has a 50-day simple moving average of $27.76 and a 200 day simple moving average of $27.15. The stock has a market cap of $3.38 billion, a P/E ratio of 12.89 and a beta of 0.82. First Interstate BancSystem has a 1-year low of $20.81 and a 1-year high of $33.00.

First Interstate BancSystem Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, August 5th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 5.81%. The ex-dividend date of this dividend is Monday, August 5th. First Interstate BancSystem’s payout ratio is currently 74.90%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th. Wells Fargo & Company boosted their price target on shares of First Interstate BancSystem from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $29.00 price objective on shares of First Interstate BancSystem in a research report on Monday, June 17th. Piper Sandler boosted their target price on shares of First Interstate BancSystem from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, April 29th. Finally, Barclays upped their price target on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.40.

Insider Buying and Selling

In other news, Director Jonathan R. Scott sold 29,499 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $25.29, for a total value of $746,029.71. Following the completion of the sale, the director now owns 1,021,663 shares in the company, valued at approximately $25,837,857.27. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, major shareholder Julie A. Scott sold 209,831 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $25.29, for a total value of $5,306,625.99. Following the transaction, the insider now owns 879,869 shares in the company, valued at $22,251,887.01. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jonathan R. Scott sold 29,499 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $25.29, for a total value of $746,029.71. Following the completion of the sale, the director now directly owns 1,021,663 shares of the company’s stock, valued at $25,837,857.27. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by company insiders.

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. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.