Compared to Estimates, First Interstate BancSystem (FIBK) Q2 Earnings: A Look at Key Metrics

Core Insights - First Interstate BancSystem reported revenue of $244.3 million for the quarter ended June 2024, reflecting a year-over-year decline of 6.9% and an EPS of $0.58 compared to $0.66 a year ago [1] Financial Performance Metrics - Net FTE interest margin (non-GAAP) was 3%, matching the average estimate of two analysts [2] - Efficiency Ratio stood at 62.7%, better than the estimated 64.6% by two analysts [2] - Mortgage banking revenues were $1.70 million, below the estimated $2.19 million [2] - Total noninterest income was $42.60 million, slightly below the average estimate of $43.22 million [2] - Net interest income reached $201.70 million, slightly above the average estimate of $200.88 million [2] Earnings Surprises - The reported revenue was a surprise of -0.53% compared to the Zacks Consensus Estimate of $245.6 million [3] - The EPS surprise was +5.45%, with the consensus EPS estimate being $0.55 [3] Stock Performance - Shares of First Interstate BancSystem have returned +19.7% over the past month, contrasting with the Zacks S&P 500 composite's -0.3% change [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [4] Investor Insights - Investors focus on year-over-year changes in revenue and earnings, alongside comparisons to Wall Street expectations, to inform their investment decisions [5]