Today, First Interstate BancSystem Inc. to Post Q2 2017 Earnings of $0.58 Per Share, FIG Partners Forecasts (FIBK)

Today, First Interstate BancSystem Inc. to Post Q2 2017 Earnings of $0.58 Per Share, FIG Partners Forecasts (FIBK)
First Interstate BancSystem Inc. (NASDAQ:FIBK) – Analysts at FIG Partners dropped their Q2 2017 EPS estimates for First Interstate BancSystem in a report released on Tuesday. FIG Partners analyst T. Coffey now forecasts that the firm will post earnings of $0.58 per share for the quarter, down from their previous estimate of $0.59. FIG Partners also issued estimates for First Interstate BancSystem’s Q3 2017 earnings at $0.54 EPS, FY2017 earnings at $2.27 EPS and FY2018 earnings at $2.67 EPS.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Monday, October 24th. The financial services provider reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.04. First Interstate BancSystem had a return on equity of 9.66% and a net margin of 22.52%.

FIBK has been the topic of a number of other research reports. Barclays PLC increased their target price on First Interstate BancSystem from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, October 11th. Zacks Investment Research raised First Interstate BancSystem from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Tuesday, October 25th. Finally, Sandler O’Neill raised First Interstate BancSystem from a “hold” rating to a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.33.

Shares of First Interstate BancSystem (NASDAQ:FIBK) opened at 37.35 on Thursday. The stock has a market capitalization of $1.68 billion, a P/E ratio of 17.87 and a beta of 0.97. The company has a 50 day moving average price of $33.42 and a 200-day moving average price of $30.27. First Interstate BancSystem has a 1-year low of $24.92 and a 1-year high of $38.75.

Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in shares of First Interstate BancSystem by 77.3% in the second quarter. Victory Capital Management Inc. now owns 4,199 shares of the financial services provider’s stock worth $118,000 after buying an additional 1,831 shares during the last quarter. US Bancorp DE boosted its stake in shares of First Interstate BancSystem by 3.2% in the second quarter. US Bancorp DE now owns 4,576 shares of the financial services provider’s stock worth $129,000 after buying an additional 141 shares during the last quarter. BlackRock Inc. boosted its stake in shares of First Interstate BancSystem by 232.0% in the second quarter. BlackRock Inc. now owns 4,761 shares of the financial services provider’s stock worth $134,000 after buying an additional 3,327 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of First Interstate BancSystem by 133.2% in the second quarter. O Shaughnessy Asset Management LLC now owns 4,808 shares of the financial services provider’s stock worth $135,000 after buying an additional 2,746 shares during the last quarter. Finally, Quotient Investors LLC bought a new stake in shares of First Interstate BancSystem during the third quarter worth $214,000. Institutional investors and hedge funds own 33.12% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, October 31st were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.36%. This is a boost from First Interstate BancSystem’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, October 27th. First Interstate BancSystem’s dividend payout ratio is presently 42.11%.

First Interstate BancSystem Company Profile

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