Research Analysts Issue Forecasts for First Interstate BancSystem, Inc.’s Q2 2024 Earnings (NASDAQ:FIBK)

First Interstate BancSystem, Inc. (NASDAQ:FIBK) – DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of First Interstate BancSystem in a research note issued to investors on Monday, April 29th. DA Davidson analyst J. Rulis forecasts that the financial services provider will post earnings per share of $0.56 for the quarter. The consensus estimate for First Interstate BancSystem’s current full-year earnings is $2.18 per share. DA Davidson also issued estimates for First Interstate BancSystem’s FY2025 earnings at $2.60 EPS.

Several other brokerages have also weighed in on FIBK. Piper Sandler lifted their price objective on First Interstate BancSystem from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday. Stephens restated an “overweight” rating and set a $32.00 target price on shares of First Interstate BancSystem in a research report on Thursday, April 25th. Keefe, Bruyette & Woods raised their target price on First Interstate BancSystem from $28.00 to $29.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. TheStreet downgraded First Interstate BancSystem from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. Finally, Barclays raised their target price on First Interstate BancSystem from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $30.20.

First Interstate BancSystem Price Performance

Shares of NASDAQ:FIBK opened at $27.46 on Tuesday. First Interstate BancSystem has a 1-year low of $20.81 and a 1-year high of $32.54. The firm has a market capitalization of $2.85 billion, a PE ratio of 10.94 and a beta of 0.87. The business’s 50 day moving average is $26.15 and its 200-day moving average is $26.76. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.89.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. First Interstate BancSystem had a return on equity of 8.55% and a net margin of 18.04%. The company had revenue of $252.30 million for the quarter, compared to analyst estimates of $254.50 million.

First Interstate BancSystem Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.88 annualized dividend and a yield of 6.85%. First Interstate BancSystem’s payout ratio is 74.90%.

Insider Buying and Selling at First Interstate BancSystem

In other First Interstate BancSystem news, EVP Kristina Robbins sold 2,710 shares of First Interstate BancSystem stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $25.83, for a total value of $69,999.30. Following the completion of the transaction, the executive vice president now owns 9,047 shares in the company, valued at approximately $233,684.01. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other First Interstate BancSystem news, EVP Kristina Robbins sold 2,710 shares of First Interstate BancSystem stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $25.83, for a total value of $69,999.30. Following the completion of the transaction, the executive vice president now owns 9,047 shares in the company, valued at approximately $233,684.01. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lorrie F. Asker sold 1,921 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $26.05, for a total value of $50,042.05. Following the sale, the insider now owns 6,909 shares of the company’s stock, valued at approximately $179,979.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,531 shares of company stock worth $197,645. 6.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Interstate BancSystem

A number of institutional investors and hedge funds have recently made changes to their positions in FIBK. Franklin Resources Inc. grew its stake in shares of First Interstate BancSystem by 36.2% during the fourth quarter. Franklin Resources Inc. now owns 5,453,783 shares of the financial services provider’s stock worth $167,704,000 after purchasing an additional 1,449,219 shares during the period. Norges Bank acquired a new stake in shares of First Interstate BancSystem during the fourth quarter worth $26,584,000. Jennison Associates LLC grew its stake in First Interstate BancSystem by 93.4% in the third quarter. Jennison Associates LLC now owns 1,426,641 shares of the financial services provider’s stock valued at $35,580,000 after acquiring an additional 688,906 shares during the period. Dimensional Fund Advisors LP grew its stake in First Interstate BancSystem by 20.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,590,707 shares of the financial services provider’s stock valued at $110,418,000 after acquiring an additional 620,682 shares during the period. Finally, Vanguard Group Inc. grew its stake in First Interstate BancSystem by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 9,180,595 shares of the financial services provider’s stock valued at $282,303,000 after acquiring an additional 533,293 shares during the period. Institutional investors own 88.71% of the company’s stock.

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.