What is DA Davidson’s Forecast for FIBK Q4 Earnings?

First Interstate BancSystem, Inc. (NASDAQ:FIBK) – DA Davidson issued their Q4 2024 earnings estimates for shares of First Interstate BancSystem in a report released on Monday, October 28th. DA Davidson analyst J. Rulis expects that the financial services provider will earn $0.61 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $34.00 target price on the stock. The consensus estimate for First Interstate BancSystem’s current full-year earnings is $2.34 per share.

Several other analysts also recently weighed in on the company. StockNews.com downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Keefe, Bruyette & Woods lifted their target price on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Wells Fargo & Company cut shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $30.00 to $28.00 in a research report on Tuesday, October 1st. Piper Sandler decreased their price objective on shares of First Interstate BancSystem from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Stephens reaffirmed an “overweight” rating and set a $36.00 price objective on shares of First Interstate BancSystem in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, First Interstate BancSystem has a consensus rating of “Hold” and a consensus price target of $32.83.

First Interstate BancSystem Trading Up 0.6 %

Shares of FIBK stock opened at $31.61 on Tuesday. The business has a 50-day moving average of $30.55 and a 200 day moving average of $28.74. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.79 and a quick ratio of 0.79. First Interstate BancSystem has a 1-year low of $22.74 and a 1-year high of $33.00. The stock has a market capitalization of $3.31 billion, a PE ratio of 12.59 and a beta of 0.81.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 17.22% and a return on equity of 8.19%. During the same quarter in the previous year, the business earned $0.70 EPS.

First Interstate BancSystem Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.88 annualized dividend and a yield of 5.95%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 74.90%.

Institutional Investors Weigh In On First Interstate BancSystem

Several institutional investors and hedge funds have recently modified their holdings of FIBK. CWM LLC raised its stake in First Interstate BancSystem by 16.0% in the second 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. PNC Financial Services Group Inc. lifted its stake in shares of First Interstate BancSystem by 28.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,378 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 744 shares during the period. Innealta Capital LLC purchased a new position in shares of First Interstate BancSystem in the 2nd quarter valued at approximately $106,000. nVerses Capital LLC boosted its position in shares of First Interstate BancSystem by 412.5% during the second quarter. nVerses Capital LLC now owns 4,100 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Telos Capital Management Inc. purchased a new stake in First Interstate BancSystem in the third quarter worth $201,000. 88.71% of the stock is owned by hedge funds and other institutional investors.

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.