First Interstate BancSystem, Inc. to Issue Quarterly Dividend of $0.47 (NASDAQ:FIBK)

First Interstate BancSystem, Inc. (NASDAQ:FIBK) announced a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Investors of record on Monday, February 10th will be given a dividend of 0.47 per share by the financial services provider on Thursday, February 20th. This represents a $1.88 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date of this dividend is Monday, February 10th.

First Interstate BancSystem has increased its dividend payment by an average of 4.7% per year over the last three years. First Interstate BancSystem has a dividend payout ratio of 68.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Interstate BancSystem to earn $2.72 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 69.1%.

First Interstate BancSystem Price Performance

NASDAQ FIBK opened at $32.86 on Friday. The firm’s fifty day simple moving average is $32.88 and its two-hundred day simple moving average is $31.64. The firm has a market capitalization of $3.43 billion, a P/E ratio of 15.00 and a beta of 0.85. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. First Interstate BancSystem has a 12-month low of $24.16 and a 12-month high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a return on equity of 6.92% and a net margin of 15.94%. Analysts forecast that First Interstate BancSystem will post 2.53 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. DA Davidson restated a “buy” rating and set a $42.00 price objective on shares of First Interstate BancSystem in a report on Thursday, January 30th. Wells Fargo & Company raised their price target on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price objective on shares of First Interstate BancSystem from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Stephens reduced their target price on First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Piper Sandler reduced their target price on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $36.14.

Insider Buying and Selling at First Interstate BancSystem

In related news, Director Jonathan R. Scott sold 6,500 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total value of $222,170.00. Following the completion of the transaction, the director now directly owns 958,710 shares in the company, valued at $32,768,707.80. The trade was a 0.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Julie A. Scott sold 22,050 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total transaction of $745,290.00. Following the completion of the transaction, the insider now owns 613,019 shares of the company’s stock, valued at approximately $20,720,042.20. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,617 shares of company stock valued at $1,176,772. 6.90% of the stock is owned by insiders.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.