Regional banking company First Interstate BancSystem (NASDAQ:FIBK) will be announcing earnings results this Wednesday after market close. Here’s what investors should know.
First Interstate BancSystem missed analysts’ revenue expectations by 1% last quarter, reporting revenues of $251.9 million, flat year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates but a miss of analysts’ net interest income estimates.
Is First Interstate BancSystem a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting First Interstate BancSystem’s revenue to decline 1.8% year on year to $256.1 million, a reversal from the 3.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.63 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. First Interstate BancSystem has missed Wall Street’s revenue estimates five times over the last two years.
Looking at First Interstate BancSystem’s peers in the regional banks segment, some have already reported their Q4 results, giving us a hint as to what we can expect. ServisFirst Bancshares delivered year-on-year revenue growth of 20.7%, beating analysts’ expectations by 5%, and Dime Community Bancshares reported revenues up 24.5%, topping estimates by 5.2%. ServisFirst Bancshares traded up 14.6% following the results while Dime Community Bancshares was also up 12.5%.
Read our full analysis of ServisFirst Bancshares’s results here and Dime Community Bancshares’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 3.1% on average over the last month. First Interstate BancSystem is up 2.7% during the same time and is heading into earnings with an average analyst price target of $37.38 (compared to the current share price of $36.72).
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