First Interstate Bancsystem Inc (NASDAQ:FIBK) – Analysts at FIG Partners cut their FY2018 earnings per share estimates for shares of First Interstate Bancsystem in a note issued to investors on Monday, October 29th. FIG Partners analyst T. Coffey now forecasts that the financial services provider will post earnings of $2.91 per share for the year, down from their previous estimate of $2.99. FIG Partners also issued estimates for First Interstate Bancsystem’s Q4 2018 earnings at $0.74 EPS, Q1 2019 earnings at $0.75 EPS, Q2 2019 earnings at $0.79 EPS, Q4 2019 earnings at $0.87 EPS, Q3 2020 earnings at $0.88 EPS and FY2020 earnings at $3.48 EPS.
First Interstate Bancsystem (NASDAQ:FIBK) last released its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.04). The business had revenue of $146.20 million during the quarter, compared to analyst estimates of $144.93 million. First Interstate Bancsystem had a return on equity of 10.88% and a net margin of 23.86%.
NASDAQ FIBK opened at $41.46 on Wednesday. The stock has a market capitalization of $2.33 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 1.57 and a beta of 1.10. First Interstate Bancsystem has a twelve month low of $36.00 and a twelve month high of $47.05. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.07.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Friday, November 9th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.70%. First Interstate Bancsystem’s payout ratio is currently 55.72%.
In other news, Director John M. Heyneman, Jr. sold 2,000 shares of the company’s stock in a transaction that occurred on Sunday, November 25th. The stock was sold at an average price of $37.35, for a total value of $74,700.00. Following the completion of the sale, the director now directly owns 3,621 shares in the company, valued at $135,244.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ross E. Leckie sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $45.91, for a total value of $183,640.00. Following the completion of the sale, the director now owns 17,599 shares of the company’s stock, valued at $807,970.09. The disclosure for this sale can be found here. Insiders have sold 7,000 shares of company stock valued at $300,210 in the last three months. Insiders own 40.23% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. JCSD Capital LLC purchased a new stake in shares of First Interstate Bancsystem in the third quarter valued at approximately $4,623,000. Adams Diversified Equity Fund Inc. purchased a new stake in shares of First Interstate Bancsystem in the third quarter valued at approximately $730,000. Assenagon Asset Management S.A. purchased a new stake in shares of First Interstate Bancsystem in the third quarter valued at approximately $202,000. Congress Asset Management Co. MA grew its position in shares of First Interstate Bancsystem by 10.0% in the third quarter. Congress Asset Management Co. MA now owns 51,047 shares of the financial services provider’s stock valued at $2,287,000 after purchasing an additional 4,620 shares in the last quarter. Finally, Alps Advisors Inc. purchased a new stake in shares of First Interstate Bancsystem in the third quarter valued at approximately $469,000. Institutional investors and hedge funds own 50.32% 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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