First Interstate BancSystem (NASDAQ:FIBK) Posts Earnings Results, Beats Estimates By $0.01 EPS

First Interstate BancSystem (NASDAQ:FIBK) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.01, Zacks reports. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 7.48%.

First Interstate BancSystem Price Performance

NASDAQ FIBK opened at $32.86 on Thursday. The company has a market cap of $3.43 billion, a PE ratio of 14.41 and a beta of 0.85. The firm’s 50 day moving average price is $33.15 and its 200-day moving average price is $31.57. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. First Interstate BancSystem has a 52-week low of $24.16 and a 52-week high of $36.77.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on FIBK shares. StockNews.com lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Tuesday, December 24th. Wells Fargo & Company reduced their target price on shares of First Interstate BancSystem from $30.00 to $29.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. DA Davidson raised First Interstate BancSystem from a “neutral” rating to a “buy” rating and boosted their target price for the company from $32.00 to $42.00 in a research report on Tuesday, November 26th. Stephens reiterated an “overweight” rating and set a $36.00 price target on shares of First Interstate BancSystem in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods increased their target price on First Interstate BancSystem from $32.00 to $36.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $35.00.

Insider Buying and Selling

In other news, Director Jonathan R. Scott sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total value of $222,170.00. Following the sale, the director now directly owns 958,710 shares in the company, valued at approximately $32,768,707.80. This trade represents a 0.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder James R. Scott, Jr. sold 6,067 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $34.50, for a total transaction of $209,311.50. Following the transaction, the insider now owns 75,387 shares of the company’s stock, valued at approximately $2,600,851.50. This trade represents a 7.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,837 shares of company stock valued at $1,839,583 over the last 90 days. 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.