Q3 2024 Earnings Forecast for First Interstate BancSystem, Inc. (NASDAQ:FIBK) Issued By DA Davidson

First Interstate BancSystem, Inc. (NASDAQ:FIBK) – Investment analysts at DA Davidson upped their Q3 2024 earnings per share estimates for First Interstate BancSystem in a research report issued on Thursday, October 3rd. DA Davidson analyst J. Rulis now expects that the financial services provider will post earnings of $0.61 per share for the quarter, up from their previous estimate of $0.60. DA Davidson has a “Neutral” rating and a $34.00 price objective on the stock. The consensus estimate for First Interstate BancSystem’s current full-year earnings is $2.34 per share. DA Davidson also issued estimates for First Interstate BancSystem’s FY2024 earnings at $2.36 EPS.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.55 by $0.03. The firm had revenue of $244.30 million during the quarter, compared to the consensus estimate of $246.07 million. First Interstate BancSystem had a return on equity of 8.19% and a net margin of 17.22%. During the same quarter in the previous year, the firm earned $0.66 earnings per share.

Other research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods upped their price objective on First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. StockNews.com downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Thursday. Wells Fargo & Company downgraded First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $30.00 to $28.00 in a research note on Tuesday. Piper Sandler reaffirmed an “overweight” rating and issued a $38.00 price objective on shares of First Interstate BancSystem in a research note on Monday, August 26th. Finally, Barclays upped their price objective on First Interstate BancSystem from $31.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $33.17.

First Interstate BancSystem Stock Up 1.0 %

Shares of NASDAQ FIBK opened at $29.84 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.92. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 11.89 and a beta of 0.81. First Interstate BancSystem has a 12 month low of $20.81 and a 12 month high of $33.00. The stock has a 50-day moving average price of $29.83 and a two-hundred day moving average price of $28.11.

First Interstate BancSystem Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 5th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 6.30%. The ex-dividend date of this dividend was Monday, August 5th. First Interstate BancSystem’s dividend payout ratio is presently 74.90%.

Institutional Trading of First Interstate BancSystem

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIBK. TNF LLC boosted its holdings in shares of First Interstate BancSystem by 1.7% during the 2nd quarter. TNF LLC now owns 25,009 shares of the financial services provider’s stock worth $694,000 after buying an additional 410 shares in the last quarter. Caprock Group LLC boosted its holdings in shares of First Interstate BancSystem by 1.7% during the 2nd quarter. Caprock Group LLC now owns 25,673 shares of the financial services provider’s stock worth $713,000 after buying an additional 422 shares in the last quarter. CWM LLC boosted its holdings in shares of First Interstate BancSystem by 16.0% during the 2nd quarter. CWM LLC now owns 3,123 shares of the financial services provider’s stock worth $87,000 after buying an additional 430 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of First Interstate BancSystem by 4.6% during the 1st quarter. Inspire Investing LLC now owns 13,057 shares of the financial services provider’s stock worth $355,000 after buying an additional 570 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of First Interstate BancSystem by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,348 shares of the financial services provider’s stock worth $1,370,000 after buying an additional 598 shares in the last quarter. Institutional investors and hedge funds own 88.71% 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.