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Compared to Estimates, First Interstate BancSystem (FIBK) Q2 Earnings: A Look at Key Metrics
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First Interstate BancSystem (FIBK - Free Report) 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.
The reported revenue represents a surprise of -0.53% over the Zacks Consensus Estimate of $245.6 million. With the consensus EPS estimate being $0.55, the EPS surprise was +5.45%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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:
Net FTE interest margin (non-GAAP): 3% versus 3% estimated by two analysts on average.
Efficiency Ratio: 62.7% versus 64.6% estimated by two analysts on average.
Mortgage banking revenues: $1.70 million versus $2.19 million estimated by two analysts on average.
Total noninterest Income: $42.60 million versus the two-analyst average estimate of $43.22 million.
Net Interest Income: $201.70 million compared to the $200.88 million average estimate based on two analysts.
Shares of First Interstate BancSystem have returned +19.7% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, First Interstate BancSystem (FIBK) Q2 Earnings: A Look at Key Metrics
First Interstate BancSystem (FIBK - Free Report) 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.
The reported revenue represents a surprise of -0.53% over the Zacks Consensus Estimate of $245.6 million. With the consensus EPS estimate being $0.55, the EPS surprise was +5.45%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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:
- Net FTE interest margin (non-GAAP): 3% versus 3% estimated by two analysts on average.
- Efficiency Ratio: 62.7% versus 64.6% estimated by two analysts on average.
- Mortgage banking revenues: $1.70 million versus $2.19 million estimated by two analysts on average.
- Total noninterest Income: $42.60 million versus the two-analyst average estimate of $43.22 million.
- Net Interest Income: $201.70 million compared to the $200.88 million average estimate based on two analysts.
View all Key Company Metrics for First Interstate BancSystem here>>>Shares of First Interstate BancSystem have returned +19.7% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.