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Yahoo
27 minutes ago
- Yahoo
Earnings To Watch: First Interstate BancSystem (FIBK) Reports Q2 Results Tomorrow
Regional banking company First Interstate BancSystem (NASDAQ:FIBK) will be announcing earnings results this Tuesday after market hours. Here's what you need to know. First Interstate BancSystem missed analysts' revenue expectations by 2.3% last quarter, reporting revenues of $247 million, up 2% year on year. It was a disappointing quarter for the company, with a significant miss of analysts' net interest income estimates and a significant miss of analysts' EPS estimates. Is First Interstate BancSystem a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting First Interstate BancSystem's revenue to grow 3.4% year on year to $252.7 million, a reversal from the 6.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.58 per share. Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. First Interstate BancSystem has missed Wall Street's revenue estimates four times over the last two years. Looking at First Interstate BancSystem's peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Seacoast Banking delivered year-on-year revenue growth of 19.6%, beating analysts' expectations by 5%, and Atlantic Union Bankshares reported revenues up 86.2%, topping estimates by 12.5%. Seacoast Banking's stock price was unchanged after the resultswhile Atlantic Union Bankshares was down 1.9%. Read our full analysis of Seacoast Banking's results here and Atlantic Union Bankshares's results here. There has been positive sentiment among investors in the regional banks segment, with share prices up 4.3% on average over the last month. First Interstate BancSystem is up 5.8% during the same time and is heading into earnings with an average analyst price target of $31.88 (compared to the current share price of $30.50). When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we've found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
Bloomberg
29 minutes ago
- Bloomberg
Namibia's Oil Riches May Finally Start to Flow
The world's hottest postcode for oil exploration is Namibia, attracting a who's who of the petroleum industry. So far, the African nation has generated lots of promise, but little in barrels or dollars. That's beginning to change: The contours of its prize are now taking shape. To understand the excitement, let's start on the other side of the Atlantic. Back in 2015, the country attracting everyone's attention was Guyana. Within a few short years, the Latin American nation delivered a gusher for Exxon Mobil Corp. and its partners: Oil production climbed from almost zero in 2019 to 700,000 barrels a day this year. By 2027, Guyana is expected to surpass 1 million barrels a day, putting it on a par with OPEC+ member countries such as Libya.
News24
an hour ago
- News24
Transformation ‘a journey': Absa says it's making strides, but work remains
Absa's head office in Sandton. Supplied/Absa Be among those who shape the future with knowledge. Uncover exclusive stories that captivate your mind and heart with our FREE 14-day subscription trial. Dive into a world of inspiration, learning, and empowerment. You can only trial once.
