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.
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.
Zacks’ Top 3 Hydrogen Stocks
Demand for clean hydrogen energy is projected to reach $500 billion by 2030 and grow 5-FOLD by 2050. Want in? Zacks has targeted 3 diversified titans that could lead the way to becoming hydrogen powerhouses.
One has crushed the market over the past 25 years – up +2,400% to +380%.
Another already has capital commitments of $15 billion for low carbon hydrogen products through 2027 alone.
Our third pick soared to 52-week highs in Q4 2023 and has raised its dividend every year for over a decade.
See Stocks Now >>First Interstate BancSystem, Inc. (FIBK) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
