$163.66 Million in Sales Expected for First Interstate Bancsystem Inc (NASDAQ:FIBK) This Quarter
Brokerages predict that First Interstate Bancsystem Inc (NASDAQ:FIBK) will report sales of $163.66 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for First Interstate Bancsystem’s earnings, with estimates ranging from $160.70 million to $166.99 million. First Interstate Bancsystem reported sales of $141.40 million in the same quarter last year, which indicates a positive year-over-year growth rate of 15.7%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, July 30th.
On average, analysts expect that First Interstate Bancsystem will report full year sales of $652.68 million for the current year, with estimates ranging from $646.00 million to $658.00 million. For the next year, analysts forecast that the firm will post sales of $686.54 million, with estimates ranging from $664.00 million to $702.85 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow First Interstate Bancsystem.
First Interstate Bancsystem (NASDAQ:FIBK) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.01). The company had revenue of $150.50 million for the quarter, compared to analyst estimates of $151.84 million. First Interstate Bancsystem had a return on equity of 10.69% and a net margin of 25.84%.
NASDAQ:FIBK traded up $0.28 during trading hours on Tuesday, reaching $38.81. 149,900 shares of the company were exchanged, compared to its average volume of 186,510. The firm has a market capitalization of $2.36 billion, a P/E ratio of 13.29, a P/E/G ratio of 1.38 and a beta of 1.18. First Interstate Bancsystem has a 1-year low of $34.61 and a 1-year high of $47.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50 day moving average of $38.64.
In other news, CEO Kevin P. Riley sold 5,000 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $39.36, for a total value of $196,800.00. Following the completion of the transaction, the chief executive officer now directly owns 21,880 shares in the company, valued at approximately $861,196.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter I. Wold purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was purchased at an average price of $37.81 per share, with a total value of $37,810.00. Following the completion of the purchase, the director now directly owns 3,707 shares in the company, valued at approximately $140,161.67. The disclosure for this purchase can be found here. 24.93% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors lifted its position in shares of First Interstate Bancsystem by 122.3% during the 4th quarter. Captrust Financial Advisors now owns 767 shares of the financial services provider’s stock worth $28,000 after buying an additional 422 shares in the last quarter. Buffington Mohr McNeal purchased a new position in First Interstate Bancsystem in the 1st quarter valued at approximately $45,000. Great West Life Assurance Co. Can grew its stake in First Interstate Bancsystem by 71.4% in the 4th quarter. Great West Life Assurance Co. Can now owns 3,760 shares of the financial services provider’s stock valued at $132,000 after buying an additional 1,566 shares in the last quarter. Stephens Inc. AR purchased a new position in shares of First Interstate Bancsystem during the 1st quarter valued at $205,000. Finally, Meeder Asset Management Inc. grew its position in shares of First Interstate Bancsystem by 5.8% during the 1st quarter. Meeder Asset Management Inc. now owns 5,323 shares of the financial services provider’s stock valued at $212,000 after purchasing an additional 292 shares in the last quarter. Institutional investors own 51.91% of the company’s stock.
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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