First Interstate BancSystem (NASDAQ:FIBK) Releases Quarterly Earnings Results, Misses Expectations By $0.27 EPS

First Interstate BancSystem (NASDAQ:FIBK) posted its quarterly earnings results on Thursday. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.27), Zacks reports. First Interstate BancSystem had a net margin of 23.63% and a return on equity of 9.55%.

First Interstate BancSystem Trading Up 3.4%

Shares of First Interstate BancSystem stock traded up $1.21 during trading hours on Thursday, reaching $36.88. The stock had a trading volume of 1,957,298 shares, compared to its average volume of 1,158,204. First Interstate BancSystem has a 1 year low of $29.39 and a 1 year high of $40.60. The firm has a 50 day simple moving average of $36.58 and a two-hundred day simple moving average of $36.53. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 11.35 and a beta of 0.73.

Insiders Place Their Bets

In other news, major shareholder Julie A. Scott sold 2,700 shares of First Interstate BancSystem stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $37.64, for a total transaction of $101,628.00. Following the sale, the insider owned 484,309 shares in the company, valued at $18,229,390.76. This trade represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Jonathan R. Scott sold 8,071 shares of the business’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $37.29, for a total transaction of $300,967.59. Following the completion of the transaction, the insider owned 817,738 shares in the company, valued at $30,493,450.02. This represents a 0.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 27,700 shares of company stock valued at $1,029,476. 8.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wells Fargo & Company reissued an “underweight” rating and set a $34.00 price objective (down from $36.00) on shares of First Interstate BancSystem in a report on Monday, August 10th. Barclays upped their target price on shares of First Interstate BancSystem from $37.00 to $38.00 and gave the stock an “underweight” rating in a research report on Monday, October 5th. DA Davidson restated a “neutral” rating and issued a $39.00 price target on shares of First Interstate BancSystem in a research report on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of First Interstate BancSystem in a research report on Monday, September 28th. Finally, Benchmark upgraded shares of First Interstate BancSystem to a “hold” rating in a report on Wednesday, September 23rd. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, First Interstate BancSystem currently has an average rating of “Reduce” and a consensus price target of $37.00.

About First Interstate BancSystem

First Interstate BancSystem, Inc is a financial holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides community banking services to individuals, businesses, agricultural customers and governmental entities.

First Interstate Bank offers deposit accounts, consumer and commercial loans, mortgage lending, credit cards, cash-management and treasury-management services, online and mobile banking, and wealth-management and investment services.