Overview

* First Interstate Q3 net income stable at $71.4 mln, EPS at $0.69

* Net interest margin increased to 3.34%

* Company repurchased 1.8 mln shares, totaling $57.2 mln

Outlook

* Company focuses on organic growth and leveraging a strong balance sheet

* First Interstate highlights improvements in net interest margin

* Company emphasizes strong and flexible liquidity and capital levels

Result Drivers

* NET INTEREST MARGIN - Increased to 3.34% due to lower interest expense from decreased borrowings

* NON-PERFORMING ASSETS - Decreased by $11.9 mln, reflecting improved asset quality

* STOCK REPURCHASE - Co repurchased 1.8 mln shares, reflecting strategic financial management

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $16.80

Revenue mln

(Payment

services

)

Q3 EPS $0.69

Q3 Net $71.40

Income mln

Q3 Net $206.80

Interest mln

Income

Q3 $92.60

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for First Interstate Bancsystem Inc ( FIBK ) is $34.50, about 6.5% above its October 28 closing price of $32.26

* The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)