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

First Interstate BancSystem (NASDAQ:FIBK) announced its quarterly earnings results on Thursday. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the company earned $0.70 earnings per share.

First Interstate BancSystem Stock Performance

FIBK traded down $1.06 on Friday, reaching $30.95. 1,014,911 shares of the stock were exchanged, compared to its average volume of 679,157. The company’s 50-day moving average price is $30.46 and its 200 day moving average price is $28.61. The firm has a market capitalization of $3.24 billion, a PE ratio of 12.33 and a beta of 0.81. First Interstate BancSystem has a fifty-two week low of $22.68 and a fifty-two week high of $33.00. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be given a dividend of $0.47 per share. The ex-dividend date is Monday, November 4th. This represents a $1.88 dividend on an annualized basis and a yield of 6.07%. First Interstate BancSystem’s dividend payout ratio is currently 74.90%.

Analyst Ratings Changes

FIBK has been the topic of a number of analyst reports. Stephens reiterated an “overweight” rating and issued a $36.00 price target on shares of First Interstate BancSystem in a report on Thursday, October 10th. Keefe, Bruyette & Woods raised their price objective on First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. StockNews.com cut First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Wells Fargo & Company cut First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $30.00 to $28.00 in a research report on Tuesday, October 1st. Finally, Barclays raised their price objective on First Interstate BancSystem from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, First Interstate BancSystem currently has a consensus rating of “Hold” and a consensus price target of $33.17.

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.