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First Interstate BancSystem (FIBK) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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First Interstate BancSystem (FIBK - Free Report) reported $255.7 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 11.7%. EPS of $0.70 for the same period compares to $1.01 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $263.4 million, representing a surprise of -2.92%. The company delivered an EPS surprise of +7.69%, with the consensus EPS estimate being $0.65.
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:
Efficiency Ratio: 61.5% versus the two-analyst average estimate of 60.7%.
Net FTE interest margin (non-GAAP): 3.1% versus the two-analyst average estimate of 3%.
Net loan charge-offs during quarter - Annualized as a percentage of average loans: 0% compared to the 0.1% average estimate based on two analysts.
Total noninterest Income: $42 million versus the two-analyst average estimate of $44.04 million.
Shares of First Interstate BancSystem have returned -12.3% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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First Interstate BancSystem (FIBK) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
First Interstate BancSystem (FIBK - Free Report) reported $255.7 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 11.7%. EPS of $0.70 for the same period compares to $1.01 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $263.4 million, representing a surprise of -2.92%. The company delivered an EPS surprise of +7.69%, with the consensus EPS estimate being $0.65.
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:
- Efficiency Ratio: 61.5% versus the two-analyst average estimate of 60.7%.
- Net FTE interest margin (non-GAAP): 3.1% versus the two-analyst average estimate of 3%.
- Net loan charge-offs during quarter - Annualized as a percentage of average loans: 0% compared to the 0.1% average estimate based on two analysts.
- Total noninterest Income: $42 million versus the two-analyst average estimate of $44.04 million.
View all Key Company Metrics for First Interstate BancSystem here>>>Shares of First Interstate BancSystem have returned -12.3% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.