FY2025 EPS Estimates for First Interstate BancSystem, Inc. Lifted by DA Davidson (NASDAQ:FIBK)

First Interstate BancSystem, Inc. (NASDAQ:FIBK) – Equities researchers at DA Davidson increased their FY2025 earnings per share estimates for shares of First Interstate BancSystem in a note issued to investors on Thursday, October 3rd. DA Davidson analyst J. Rulis now expects that the financial services provider will post earnings of $2.70 per share for the year, up from their previous forecast of $2.55. DA Davidson has a “Neutral” rating and a $34.00 price target on the stock. The consensus estimate for First Interstate BancSystem’s current full-year earnings is $2.34 per share.

Several other equities research analysts also recently commented on the stock. Piper Sandler reiterated an “overweight” rating and set a $38.00 price objective on shares of First Interstate BancSystem in a research note on Monday, August 26th. Wells Fargo & Company downgraded First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $30.00 to $28.00 in a research note on Tuesday, October 1st. StockNews.com lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Keefe, Bruyette & Woods lifted their target price on First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Finally, Barclays increased their price target on shares of First Interstate BancSystem from $31.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.17.

First Interstate BancSystem Stock Down 0.6 %

NASDAQ:FIBK opened at $29.32 on Monday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.92. First Interstate BancSystem has a twelve month low of $20.81 and a twelve month high of $33.00. The company has a market cap of $3.07 billion, a PE ratio of 11.68 and a beta of 0.81. The company’s 50 day moving average is $29.75 and its two-hundred day moving average is $28.18.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The business had revenue of $244.30 million for the quarter, compared to analyst estimates of $246.07 million. First Interstate BancSystem had a return on equity of 8.19% and a net margin of 17.22%. During the same quarter in the previous year, the firm earned $0.66 earnings per share.

First Interstate BancSystem Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were given a $0.47 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.88 annualized dividend and a yield of 6.41%. First Interstate BancSystem’s dividend payout ratio is presently 74.90%.

Hedge Funds Weigh In On First Interstate BancSystem

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in First Interstate BancSystem by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 9,180,595 shares of the financial services provider’s stock valued at $282,303,000 after buying an additional 533,293 shares during the period. Dimensional Fund Advisors LP grew its position in shares of First Interstate BancSystem by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,580,800 shares of the financial services provider’s stock valued at $127,204,000 after acquiring an additional 367,212 shares during the period. Wellington Management Group LLP increased its stake in shares of First Interstate BancSystem by 5.0% in the 4th quarter. Wellington Management Group LLP now owns 2,970,727 shares of the financial services provider’s stock valued at $91,350,000 after purchasing an additional 142,069 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in First Interstate BancSystem by 1.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,051,632 shares of the financial services provider’s stock worth $56,974,000 after purchasing an additional 32,348 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in First Interstate BancSystem by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 887,559 shares of the financial services provider’s stock worth $24,648,000 after purchasing an additional 11,493 shares in the last quarter. 88.71% of the stock is owned by hedge funds and other institutional investors.

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