First Interstate BancSystem (NASDAQ:FIBK) Issues Quarterly Earnings Results

First Interstate BancSystem (NASDAQ:FIBK) issued its earnings results on Wednesday. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01, FiscalAI reports. First Interstate BancSystem had a return on equity of 9.07% and a net margin of 21.40%.The firm had revenue of $41.10 million for the quarter, compared to the consensus estimate of $242.78 million. During the same quarter last year, the business posted $0.49 EPS.

First Interstate BancSystem Trading Down 0.8%

NASDAQ FIBK opened at $35.19 on Friday. The business has a 50 day moving average price of $34.19 and a 200-day moving average price of $34.41. First Interstate BancSystem has a 52 week low of $25.81 and a 52 week high of $39.26. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.09. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 11.46 and a beta of 0.77.

First Interstate BancSystem Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Stockholders of record on Monday, May 11th will be issued a dividend of $0.47 per share. The ex-dividend date is Monday, May 11th. This represents a $1.88 annualized dividend and a dividend yield of 5.3%. First Interstate BancSystem’s payout ratio is currently 61.24%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FIBK. Wall Street Zen lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Wells Fargo & Company increased their target price on shares of First Interstate BancSystem from $30.00 to $36.00 and gave the stock an “underweight” rating in a report on Monday, March 30th. DA Davidson restated a “buy” rating and issued a $42.00 price target on shares of First Interstate BancSystem in a research note on Thursday, January 29th. Stephens downgraded First Interstate BancSystem from an “overweight” rating to an “equal weight” rating in a report on Thursday, February 5th. Finally, Keefe, Bruyette & Woods downgraded shares of First Interstate BancSystem from an “outperform” rating to a “market perform” rating in a research note on Friday. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, First Interstate BancSystem currently has an average rating of “Hold” and an average price target of $38.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FIBK. Kestra Advisory Services LLC acquired a new position in shares of First Interstate BancSystem during the fourth quarter valued at about $29,000. EverSource Wealth Advisors LLC raised its holdings in shares of First Interstate BancSystem by 139.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 862 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in First Interstate BancSystem in the 3rd quarter valued at about $52,000. Danske Bank A S bought a new position in First Interstate BancSystem in the 3rd quarter valued at about $57,000. Finally, Advisory Services Network LLC acquired a new position in First Interstate BancSystem during the 3rd quarter valued at about $149,000. Institutional investors and hedge funds own 88.71% of the company’s stock.

About First Interstate BancSystem

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.