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

First Interstate BancSystem (NASDAQ:FIBK) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01, Zacks reports. First Interstate BancSystem had a return on equity of 7.48% and a net margin of 15.94%.

First Interstate BancSystem Stock Down 1.1 %

FIBK traded down $0.38 during midday trading on Wednesday, reaching $32.86. 515,212 shares of the company were exchanged, compared to its average volume of 603,351. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 14.41 and a beta of 0.85. First Interstate BancSystem has a one year low of $24.16 and a one year high of $36.77. The company’s fifty day moving average price is $33.15 and its 200 day moving average price is $31.57.

Insiders Place Their Bets

In related news, major shareholder James R. Scott, Jr. sold 6,067 shares of First Interstate BancSystem stock in a transaction 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 sale, the insider now directly owns 75,387 shares in the company, valued at approximately $2,600,851.50. This trade represents a 7.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Julie A. Scott sold 20,220 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $32.78, for a total value of $662,811.60. Following the completion of the transaction, the insider now directly owns 635,069 shares in the company, valued at approximately $20,817,561.82. This represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,837 shares of company stock valued at $1,839,583 in the last 90 days. 6.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

FIBK has been the topic of a number of research reports. Stephens reaffirmed an “overweight” rating and set a $36.00 target price on shares of First Interstate BancSystem in a research note on Thursday, October 10th. UBS Group initiated coverage on First Interstate BancSystem in a report on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 target price for the company. Barclays boosted their price target on First Interstate BancSystem from $30.00 to $31.00 and gave the stock an “underweight” rating in a report on Thursday, December 5th. Keefe, Bruyette & Woods raised their price objective on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Tuesday, December 24th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.00.

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.