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

First Interstate BancSystem (NASDAQ:FIBK) issued its earnings results on Thursday. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04), Briefing.com reports. First Interstate BancSystem had a net margin of 17.22% and a return on equity of 8.19%. During the same quarter last year, the company earned $0.70 earnings per share.

First Interstate BancSystem Stock Performance

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

Analyst Ratings Changes

A number of research firms have recently issued reports on FIBK. DA Davidson raised their price objective on First Interstate BancSystem from $27.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods lifted their price objective on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Stephens reissued an “overweight” rating and issued a $36.00 price objective on shares of First Interstate BancSystem in a research report on Thursday, October 10th. Piper Sandler reaffirmed an “overweight” rating and set a $38.00 target price on shares of First Interstate BancSystem in a report on Monday, August 26th. Finally, Wells Fargo & Company cut shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and lowered their price target 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 given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $33.17.

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. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.