Analysts Offer Predictions for First Interstate BancSystem, Inc.’s Q2 2024 Earnings (NASDAQ:FIBK)

First Interstate BancSystem, Inc. (NASDAQ:FIBK) – Equities researchers at DA Davidson issued their Q2 2024 earnings estimates for shares of First Interstate BancSystem in a research note issued to investors on Monday, April 29th. DA Davidson analyst J. Rulis anticipates that the financial services provider will post earnings per share of $0.56 for the quarter. The consensus estimate for First Interstate BancSystem’s current full-year earnings is $2.18 per share. DA Davidson also issued estimates for First Interstate BancSystem’s FY2025 earnings at $2.60 EPS.

A number of other research firms have also issued reports on FIBK. Keefe, Bruyette & Woods raised their price target on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. TheStreet lowered shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. Wells Fargo & Company raised their price target on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Piper Sandler lifted their target price on shares of First Interstate BancSystem from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Monday. Finally, Barclays lifted their target price on shares of First Interstate BancSystem from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $30.20.

First Interstate BancSystem Stock Performance

Shares of First Interstate BancSystem stock opened at $27.46 on Tuesday. The firm has a market capitalization of $2.85 billion, a P/E ratio of 10.94 and a beta of 0.87. The company has a quick ratio of 0.76, a current ratio of 0.77 and a debt-to-equity ratio of 0.89. The company has a 50 day moving average price of $26.15 and a 200 day moving average price of $26.76. First Interstate BancSystem has a 52 week low of $20.81 and a 52 week high of $32.54.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. The firm had revenue of $252.30 million during the quarter, compared to analyst estimates of $254.50 million. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.55%.

Institutional Trading of First Interstate BancSystem

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its stake in First Interstate BancSystem by 235.6% during the first quarter. BNP Paribas Financial Markets now owns 78,311 shares of the financial services provider’s stock worth $2,131,000 after purchasing an additional 54,973 shares during the period. Caprock Group LLC increased its stake in First Interstate BancSystem by 1.8% during the first quarter. Caprock Group LLC now owns 25,251 shares of the financial services provider’s stock worth $687,000 after purchasing an additional 437 shares during the period. Commonwealth Equity Services LLC increased its stake in First Interstate BancSystem by 4.2% during the first quarter. Commonwealth Equity Services LLC now owns 49,982 shares of the financial services provider’s stock worth $1,360,000 after purchasing an additional 2,015 shares during the period. Peregrine Capital Management LLC increased its stake in First Interstate BancSystem by 7.5% during the first quarter. Peregrine Capital Management LLC now owns 270,727 shares of the financial services provider’s stock worth $7,366,000 after purchasing an additional 18,856 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in First Interstate BancSystem by 28.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,378 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 744 shares during the period. 88.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Kristina Robbins sold 2,710 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total transaction of $69,999.30. Following the transaction, the executive vice president now owns 9,047 shares of the company’s stock, valued at approximately $233,684.01. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Kristina Robbins sold 2,710 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $25.83, for a total transaction of $69,999.30. Following the transaction, the executive vice president now owns 9,047 shares of the company’s stock, valued at approximately $233,684.01. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Lorrie F. Asker sold 1,921 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total transaction of $50,042.05. Following the completion of the sale, the insider now owns 6,909 shares in the company, valued at $179,979.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,531 shares of company stock valued at $197,645. 6.90% of the stock is currently owned by insiders.

First Interstate BancSystem Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Monday, May 6th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.88 annualized dividend and a dividend yield of 6.85%. First Interstate BancSystem’s payout ratio is 74.90%.

First Interstate BancSystem Company Profile

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.