First Interstate Bancsystem
First Interstate Bancsystem (FIBK) is one of the best-of-the-best bank stocks this earnings season. The company operates 76 banking offices in 42 communities located in Montana, Wyoming, and western South Dakota.
The exciting thing about this bank is that it has substantial exposure in its service area from the economic boom caused by drilling activity in the Bakken shale filed. Earnings are up more than 30% so far this year, and the last quarter showed more than 50% year-over-year earnings growth.
FIBK has posted four consecutive positive earnings surprises, and analysts have been raising their estimates for FIBK stock. The solid performance was picked up Portfolio Grader back in July, and the stock was raised to an “A” grade. FIBK remains a “strong buy” at the current price.