First Interstate BancSystem (NASDAQ:FIBK) Releases Earnings Results

First Interstate BancSystem (NASDAQ:FIBK) released its quarterly earnings data on Thursday. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the business posted $0.70 EPS.

First Interstate BancSystem Price Performance

NASDAQ:FIBK traded down $1.06 during trading hours on Friday, hitting $30.95. 1,014,911 shares of the stock were exchanged, compared to its average volume of 679,157. First Interstate BancSystem has a 52-week low of $22.68 and a 52-week high of $33.00. The firm’s fifty day moving average price is $30.46 and its 200 day moving average price is $28.61. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.92. The company has a market cap of $3.24 billion, a P/E ratio of 12.33 and a beta of 0.81.

First Interstate BancSystem Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.47 per share. The ex-dividend date is Monday, November 4th. This represents a $1.88 annualized dividend and a yield of 6.07%. First Interstate BancSystem’s dividend payout ratio (DPR) is currently 74.90%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FIBK shares. Wells Fargo & Company lowered First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $30.00 to $28.00 in a research note on Tuesday, October 1st. Stephens restated an “overweight” rating and issued a $36.00 price target on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Keefe, Bruyette & Woods lifted their price target on First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. StockNews.com lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Finally, Barclays lifted their price target on First Interstate BancSystem from $31.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average 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.