First Interstate BancSystem (NASDAQ:FIBK – Get Free Report) issued its quarterly earnings results on Thursday. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.27), Zacks reports. First Interstate BancSystem had a net margin of 23.63% and a return on equity of 9.55%.
First Interstate BancSystem Stock Performance
Shares of NASDAQ FIBK traded up $1.21 during midday trading on Thursday, reaching $36.88. 1,957,298 shares of the stock were exchanged, compared to its average volume of 1,158,206. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 11.35 and a beta of 0.73. First Interstate BancSystem has a twelve month low of $29.39 and a twelve month high of $40.60. The firm has a 50-day simple moving average of $36.58 and a two-hundred day simple moving average of $36.53. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.09.
Insider Activity at First Interstate BancSystem
In related news, major shareholder Jonathan R. Scott sold 16,929 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $37.03, for a total transaction of $626,880.87. Following the sale, the insider directly owned 825,809 shares of the company’s stock, valued at approximately $30,579,707.27. This represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Julie A. Scott sold 2,700 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $37.64, for a total transaction of $101,628.00. Following the sale, the insider owned 484,309 shares in the company, valued at approximately $18,229,390.76. This represents a 0.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 27,700 shares of company stock valued at $1,029,476. Insiders own 8.00% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on FIBK. Wall Street Zen upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. Wells Fargo & Company reissued an “underweight” rating and issued a $34.00 target price (down from $36.00) on shares of First Interstate BancSystem in a research report on Monday, August 10th. Barclays raised their target price on First Interstate BancSystem from $37.00 to $38.00 and gave the stock an “underweight” rating in a research note on Monday, October 5th. DA Davidson restated a “neutral” rating and issued a $39.00 target price on shares of First Interstate BancSystem in a research note on Monday, July 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Interstate BancSystem in a research report on Monday, September 28th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $37.00.
View Our Latest Stock Analysis on First Interstate BancSystem
First Interstate BancSystem Company Profile
First Interstate BancSystem, Inc is a financial holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides community banking services to individuals, businesses, agricultural customers and governmental entities.
First Interstate Bank offers deposit accounts, consumer and commercial loans, mortgage lending, credit cards, cash-management and treasury-management services, online and mobile banking, and wealth-management and investment services.
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