First Interstate BancSystem (NASDAQ:FIBK) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

First Interstate BancSystem (NASDAQ:FIBK) released its earnings results on Thursday. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04), Briefing.com reports. 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 business earned $0.70 EPS.

First Interstate BancSystem Trading Down 3.3 %

Shares of FIBK traded down $1.06 during mid-day trading on Friday, hitting $30.95. The company had a trading volume of 1,014,911 shares, compared to its average volume of 679,157. The business’s 50-day simple moving average is $30.43 and its 200-day simple moving average is $28.58. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.92. First Interstate BancSystem has a 1-year low of $22.68 and a 1-year high of $33.00. The stock has a market cap of $3.24 billion, a PE ratio of 12.22 and a beta of 0.81.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FIBK shares. Piper Sandler reiterated an “overweight” rating and issued a $38.00 price target on shares of First Interstate BancSystem in a research note on Monday, August 26th. StockNews.com lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. DA Davidson raised their price objective on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Stephens reaffirmed an “overweight” rating and set a $36.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Finally, Wells Fargo & Company lowered First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $30.00 to $28.00 in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $33.17.

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.