Recap: First Interstate BancSys Q4 Earnings
Portfolio Pulse from Benzinga Insights
First Interstate BancSys (NASDAQ:FIBK) reported Q4 earnings with an EPS of $0.59, missing estimates by 3.28% against the expected $0.61. Revenue declined by $47.70 million compared to the same period last year. In the previous quarter, FIBK beat EPS estimates which led to an 8.65% share price increase the following day.
January 30, 2024 | 9:30 pm
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First Interstate BancSys reported lower than expected Q4 earnings and a significant drop in revenue compared to last year, which could negatively impact investor sentiment and the stock price in the short term.
Missing earnings estimates and reporting lower revenue year-over-year are typically seen as negative indicators for a company's financial health and often result in a decrease in stock price. Given that FIBK's stock price increased after beating estimates last quarter, the miss this quarter may reverse that sentiment.
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