First Interstate BancSystem (NASDAQ:FIBK) Posts Earnings Results, Beats Expectations By $0.03 EPS

First Interstate BancSystem (NASDAQ:FIBK) posted its quarterly earnings data on Thursday. The financial services provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03, Briefing.com reports. First Interstate BancSystem had a return on equity of 8.51% and a net margin of 17.76%. During the same quarter last year, the company earned $0.66 EPS.

First Interstate BancSystem Trading Up 0.6 %

Shares of NASDAQ FIBK traded up $0.20 during midday trading on Friday, hitting $32.35. The stock had a trading volume of 744,709 shares, compared to its average volume of 755,029. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 12.89 and a beta of 0.82. First Interstate BancSystem has a 1-year low of $20.81 and a 1-year high of $33.00. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.90. The company has a fifty day moving average price of $27.76 and a 200 day moving average price of $27.17.

Wall Street Analyst Weigh In

FIBK has been the topic of a number of analyst reports. Barclays increased their price objective on First Interstate BancSystem from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. StockNews.com lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Thursday, July 18th. Stephens reaffirmed an “overweight” rating and set a $32.00 price objective on shares of First Interstate BancSystem in a research note on Monday, June 24th. Wells Fargo & Company raised their price target on First Interstate BancSystem from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 9th. Finally, Piper Sandler raised their price target on First Interstate BancSystem from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $30.40.

Insider Activity

In related news, major shareholder Julie A. Scott sold 209,831 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $25.29, for a total transaction of $5,306,625.99. Following the sale, the insider now directly owns 879,869 shares in the company, valued at approximately $22,251,887.01. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, major shareholder Julie A. Scott sold 209,831 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $25.29, for a total transaction of $5,306,625.99. Following the sale, the insider now directly owns 879,869 shares in the company, valued at approximately $22,251,887.01. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jonathan R. Scott sold 29,499 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $25.29, for a total value of $746,029.71. Following the sale, the director now owns 1,021,663 shares in the company, valued at $25,837,857.27. The disclosure for this sale can be found here. Corporate insiders own 6.90% 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. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.