First Interstate BancSystem, Inc. (NASDAQ:FIBK) – Equities research analysts at FIG Partners lifted their Q3 2017 earnings estimates for shares of First Interstate BancSystem in a report released on Friday. FIG Partners analyst T. Coffey now anticipates that the financial services provider will post earnings per share of $0.60 for the quarter, up from their prior estimate of $0.58. FIG Partners also issued estimates for First Interstate BancSystem’s Q1 2018 earnings at $0.61 EPS, Q2 2018 earnings at $0.62 EPS and FY2018 earnings at $2.51 EPS.
Other equities research analysts have also recently issued research reports about the company. BidaskClub cut First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Keefe, Bruyette & Woods set a $43.00 price target on First Interstate BancSystem and gave the company a “hold” rating in a report on Saturday, May 27th. Barclays PLC reaffirmed an “overweight” rating and set a $41.00 price target on shares of First Interstate BancSystem in a report on Tuesday, June 13th. Wells Fargo & Company raised First Interstate BancSystem from a “market perform” rating to an “outperform” rating in a report on Friday, June 2nd. Finally, ValuEngine raised First Interstate BancSystem from a “hold” rating to a “buy” rating in a report on Wednesday, May 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $42.75.
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First Interstate BancSystem (NASDAQ:FIBK) opened at 36.55 on Monday. The firm’s 50-day moving average price is $37.05 and its 200 day moving average price is $39.05. The firm has a market cap of $2.06 billion, a PE ratio of 17.71 and a beta of 1.15. First Interstate BancSystem has a 52-week low of $28.57 and a 52-week high of $45.35.
First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Wednesday, July 26th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.03. First Interstate BancSystem had a return on equity of 10.44% and a net margin of 22.60%. The company had revenue of $116.50 million for the quarter, compared to analysts’ expectations of $119.97 million.
Large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its stake in First Interstate BancSystem by 5.6% in the first quarter. Sei Investments Co. now owns 3,154 shares of the financial services provider’s stock worth $125,000 after buying an additional 168 shares during the period. Wrapmanager Inc. boosted its stake in First Interstate BancSystem by 5.1% in the first quarter. Wrapmanager Inc. now owns 6,105 shares of the financial services provider’s stock worth $242,000 after buying an additional 297 shares during the period. American Century Companies Inc. boosted its stake in First Interstate BancSystem by 0.6% in the first quarter. American Century Companies Inc. now owns 61,377 shares of the financial services provider’s stock worth $2,434,000 after buying an additional 359 shares during the period. Granite Investment Partners LLC boosted its stake in First Interstate BancSystem by 1.4% in the first quarter. Granite Investment Partners LLC now owns 29,160 shares of the financial services provider’s stock worth $1,156,000 after buying an additional 416 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its stake in First Interstate BancSystem by 3.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 12,297 shares of the financial services provider’s stock worth $488,000 after buying an additional 432 shares during the period. 38.70% of the stock is currently owned by institutional investors.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Wednesday, August 2nd will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, July 31st. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.63%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 46.38%.
First Interstate BancSystem Company Profile
First Interstate BancSystem, Inc is a financial and bank holding company. The Company, through its bank subsidiary First Interstate Bank (the Bank), delivers a range of banking products and services to individuals, businesses, municipalities and other entities. The Company also, through its subsidiary Bank of the Cascades, offers full-service community banking through 46 branches in Oregon, Idaho and Washington.
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