First Interstate BancSystem (FIBK) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates

Core Viewpoint - First Interstate BancSystem (FIBK) reported a decline in revenue and earnings for the quarter ended September 2024, with a slight revenue surprise over estimates but a notable EPS miss [1]. Financial Performance - Revenue for the quarter was $251.9 million, down 1.5% year-over-year, and EPS was $0.54 compared to $0.70 in the same quarter last year [1]. - The reported revenue exceeded the Zacks Consensus Estimate of $249.9 million by +0.80%, while the EPS fell short of the consensus estimate of $0.60 by -10.00% [1]. Key Metrics - Net FTE interest margin (non-GAAP) was 3%, matching the average estimate from two analysts [1]. - Efficiency Ratio stood at 61.9%, slightly better than the estimated 62.6% [1]. - Mortgage banking revenues were $1.70 million, below the estimated $2.25 million [1]. - Total noninterest income reached $46.40 million, surpassing the average estimate of $43.53 million [1]. - Net interest income was reported at $205.50 million, slightly below the average estimate of $206.67 million [1]. Stock Performance - Shares of First Interstate BancSystem have increased by +7.3% over the past month, outperforming the Zacks S&P 500 composite, which saw a +1.5% change [2]. - The stock currently holds a Zacks Rank 1 (Strong Buy), suggesting potential for outperformance in the near term [2].