Core Viewpoint - Analysts expect First Interstate BancSystem (FIBK) to report quarterly earnings of $0.60 per share, reflecting a year-over-year decline of 14.3% and revenues of $249.9 million, down 2.3% from the previous year [1] Group 1: Earnings and Revenue Estimates - The consensus EPS estimate for the quarter has remained unchanged over the past 30 days, indicating analysts' reassessment of their initial projections [1] - Analysts predict 'Net Interest Income' to be $206.67 million, down from $213.70 million reported in the same quarter last year [3] - The estimate for 'Total noninterest Income' is $43.53 million, compared to $42 million in the same quarter of the previous year [2] Group 2: Key Financial Metrics - The expected 'Net FTE interest margin (non-GAAP)' is 3.0%, down from 3.1% year-over-year [2] - The 'Efficiency Ratio' is projected to reach 62.6%, compared to 61.5% in the previous year [2] Group 3: Stock Performance - FIBK shares have increased by 3.9% over the past month, outperforming the Zacks S&P 500 composite's increase of 2.7% [3] - FIBK holds a Zacks Rank 2 (Buy), indicating expectations of outperforming the overall market performance in the near term [3]

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? First Interstate BancSystem (FIBK) , which belongs to the Zacks Banks - Midwest industry, could be a great candidate to consider. When looking at the last two reports, this holding company for First Interstate Bank has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 6.50%, on average, in the last two quart ...

First Interstate BancSystem (FIBK) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the syste ...

We Are Today, we put First Interstate BancSystem, Inc. (NASDAQ:FIBK) in the spotlight for the first tinst the first time. This traditional bank holding company has secu some recen Published on TradingView.com, Sep 16, 2024 08:52 UTC-4 First Interstate BancSystem, Inc., 1D, Cboe One 30.20 +1.06 (+3.64%) Vol 344.908 K 32.00 30.20 28.00 26.00 24.00 22.00 @0 idlink on 00 ao dibration 344.908 K one in Doctobild Oct 2024 13 Sep "1"/ TradingView Seeking Alpha Company Overview: This bank holding company has been ar ...

suravikin/iStock via Getty Images In my last article on First interstate BancSystem (NASDAQ:FIBK) I highlighted the stagnant growth of the loan portfolio, which is why the company used to reinvest investment portfolio proceeds into new securities. To date, the strategy has changed, but challenges related to demand for credit remain. In addition, expectations about rate cuts have changed, and management will have to position FIBK so that it can benefit from a lower-than-expected Fed Funds Rate. The dividend ...

Here is how First Interstate BancSystem performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: First Interstate BancSystem (FIBK) reported $244.3 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 6.9%. EPS of $0.58 for the same period compares to $0.66 a year ago. Net FTE interest margin (non-GAAP): 3% versus 3% estimated by two analysts on average. Efficiency Ratio: 62.7% versus 64.6% estimated b ...

First Interstate BancSystem, which belongs to the Zacks Banks - Midwest industry, posted revenues of $244.3 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.53%. This compares to year-ago revenues of $262.5 million. The company has topped consensus revenue estimates just once over the last four quarters. While First Interstate BancSystem has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? It will be inte ...

Financial Performance - For Q2 2024, First Interstate BancSystem reported net income of $60.0 million, or $0.58 per share, compared to $58.4 million, or $0.57 per share in Q1 2024, and $67.0 million, or $0.65 per share in Q2 2023[36]. - Net interest income rose by $1.6 million, or 0.8%, to $201.7 million in Q2 2024, while it decreased by $16.7 million, or 7.6%, compared to Q2 2023[64]. - Net interest margin increased to 2.97% for Q2 2024, a 6 basis point increase from Q1 2024, and to 3.00% on a fully taxable equivalent basis, a 7 basis point increase from Q1 2024[1]. - Earnings per share (EPS) for Q2 2024 was $0.58, up 1.8% from Q1 2024, but down 10.8% from Q2 2023[84]. - Return on average assets increased to 0.80% in Q2 2024, up from 0.77% in Q1 2024[79]. - Return on average common stockholders' equity rose to 7.55% in Q2 2024, compared to 7.28% in the previous quarter[79]. Asset and Liability Management - Total assets as of June 30, 2024, were $30,289.5 million, a 0.5% increase from the previous quarter but a 2.2% decrease year-over-year[23]. - Total deposits increased slightly to $22,870.7 million, a 0.3% rise from the previous quarter but down 3.0% compared to the same period last year[24]. - Net loans held for investment were $18,002.2 million, showing a 0.2% increase from the previous quarter but a 0.2% decrease year-over-year[23]. - The ratio of loans held for investment to deposits was 79.7% as of June 30, 2024, compared to 79.8% as of March 31, 2024[10]. - Total loans held for investment increased to $18,235.0 million as of June 30, 2024, up 0.2% from $18,202.8 million in the previous quarter[78]. Credit Quality - Provision for credit losses was $9.0 million in Q2 2024, up from $5.3 million in Q1 2024 but down from $11.7 million in Q2 2023[4]. - The allowance for credit losses was $232.8 million, representing 1.28% of loans held for investment, up from 1.25% in the previous quarter and 1.23% a year ago[28]. - Non-performing assets decreased by $14.5 million, or 7.7%, to $174.9 million as of June 30, 2024, compared to $189.4 million as of March 31, 2024[12]. - Non-accrual loans decreased by 3.7% to $165.6 million in Q2 2024 compared to $172.0 million in Q1 2024, and increased by 92.3% compared to $86.1 million in Q2 2023[18]. - Criticized loans decreased by $12.0 million, or 1.9%, to $618.0 million as of June 30, 2024, driven by upgrades and paydowns in the agricultural and construction real estate portfolios[33]. Non-Interest Income and Expenses - Non-interest income was $42.6 million for Q2 2024, increasing by $0.5 million compared to Q1 2024[65]. - Total non-interest expense for Q2 2024 was $156.9 million, down 2.1% from Q1 2024 and down 4.3% from Q2 2023[84]. - Non-interest expense decreased by $3.3 million in Q2 2024 compared to Q1 2024 and by $7.0 million compared to Q2 2023, totaling $156.9 million[7]. - Salaries and wages expense increased by $1.1 million, or 1.7%, during Q2 2024 compared to Q1 2024, but decreased by $1.8 million, or 2.6%, compared to Q2 2023[32]. - Other expenses decreased by $1.6 million during Q2 2024 compared to Q1 2024, primarily due to a decrease in professional fees and FDIC insurance[45]. Capital and Dividends - The company declared a dividend of $0.47 per common share, equating to a 7.1% annualized yield based on the average closing price of $26.48 per share during Q2 2024[2]. - Total stockholders' equity increased to $3,225.3 million, a 0.5% rise from the previous quarter and a 3.3% increase year-over-year[23]. - The company is considered "well-capitalized" as of June 30, 2024, exceeding all regulatory capital adequacy requirements[70]. - The company's common stock book value per share at the end of the period was $30.85, a 0.5% increase from the previous quarter and a 3.8% increase year-over-year[23]. Operational Efficiency - The efficiency ratio improved to 62.71% in Q2 2024 from 64.62% in Q1 2024, indicating better operational efficiency[79]. - The yield on average earning assets improved to 4.80% in Q2 2024, up from 4.74% in Q1 2024[79]. - Interest-earning assets totaled $27,286.9 million, with an average interest rate of 4.80% for Q2 2024[86]. - The interest rate spread for Q2 2024 was 2.41%, compared to 2.64% in Q2 2023[86]. Future Outlook - The company anticipates continued focus on expense reduction initiatives and maintaining credit quality in the upcoming quarters[51]. - The company plans to host a conference call on July 26, 2024, to discuss the results for the second quarter of 2024[83].

Wall Street analysts expect First Interstate BancSystem (FIBK) to post quarterly earnings of $0.55 per share in its upcoming report, which indicates a year-over-year decline of 16.7%. Revenues are expected to be $245.6 million, down 6.4% from the year-ago quarter. Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period. Prior to a company's earnings release, it i ...

After reaching an important support level, First Interstate BancSystem, Inc. (FIBK) could be a good stock pick from a technical perspective. FIBK recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average. There's a reason traders love a golden cross -- it's a technical chart pattern that can indicate a bullish breakout is on the horizon. This kind of crossover is formed when a stock's short-term moving average breaks above a ...