First Interstate BancSystem (NASDAQ:FIBK) Posts Earnings Results, Misses Estimates By $0.04 EPS

by · The Markets Daily

First Interstate BancSystem (NASDAQ:FIBK – Get Free Report) announced its quarterly earnings results on Thursday. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04), Briefing.com reports. First Interstate BancSystem had a net margin of 17.22% and a return on equity of 8.19%. During the same quarter last year, the business posted $0.70 earnings per share.

First Interstate BancSystem Stock Down 3.3 %

Shares of FIBK stock traded down $1.06 during trading on Friday, reaching $30.95. The company’s stock had a trading volume of 1,014,911 shares, compared to its average volume of 679,157. First Interstate BancSystem has a one year low of $22.68 and a one year high of $33.00. The business has a fifty day moving average price of $30.43 and a 200-day moving average price of $28.58. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 12.22 and a beta of 0.81. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.92.

Analysts Set New Price Targets

A number of research analysts have issued reports on FIBK shares. Piper Sandler reissued an “overweight” rating and issued a $38.00 target price on shares of First Interstate BancSystem in a research note on Monday, August 26th. Barclays lifted their price objective on First Interstate BancSystem from $31.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. StockNews.com downgraded shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Wells Fargo & Company lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $30.00 to $28.00 in a research note on Tuesday, October 1st. Finally, DA Davidson increased their price objective on shares of First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $33.17.

Read Our Latest Research Report on FIBK

First Interstate BancSystem Company Profile

(Get Free Report)

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.

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