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

First Interstate BancSystem, Inc. (NASDAQ:FIBK) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors of record on Monday, May 6th will be paid a dividend of 0.47 per share by the financial services provider on Thursday, May 16th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.90%. The ex-dividend date is Friday, May 3rd.

First Interstate BancSystem has increased its dividend payment by an average of 10.3% annually over the last three years. First Interstate BancSystem has a payout ratio of 73.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Interstate BancSystem to earn $2.57 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 73.2%.

First Interstate BancSystem Stock Performance

Shares of NASDAQ:FIBK traded up $0.31 during trading on Friday, reaching $27.26. 22,047 shares of the company’s stock traded hands, compared to its average volume of 824,588. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.77 and a quick ratio of 0.76. First Interstate BancSystem has a 12 month low of $20.81 and a 12 month high of $32.54. The company has a 50 day moving average of $26.08 and a 200-day moving average of $26.66. The stock has a market capitalization of $2.83 billion, a P/E ratio of 10.74 and a beta of 0.87.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.55%. The business had revenue of $252.30 million during the quarter, compared to the consensus estimate of $254.50 million. On average, equities analysts expect that First Interstate BancSystem will post 2.17 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on FIBK shares. Barclays started coverage on shares of First Interstate BancSystem in a research report on Friday, March 8th. They issued an “equal weight” rating and a $28.00 target price for the company. Wells Fargo & Company upped their target price on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Stephens restated an “overweight” rating and issued a $32.00 target price on shares of First Interstate BancSystem in a research report on Thursday. Finally, TheStreet cut shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $29.00.

Insider Buying and Selling at First Interstate BancSystem

In other news, insider Lorrie F. Asker sold 1,921 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total transaction of $50,042.05. Following the transaction, the insider now owns 6,909 shares in the company, valued at approximately $179,979.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Karlyn M. Knieriem sold 2,900 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $26.76, for a total value of $77,604.00. Following the transaction, the executive vice president now directly owns 20,599 shares in the company, valued at approximately $551,229.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lorrie F. Asker sold 1,921 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $26.05, for a total transaction of $50,042.05. Following the completion of the sale, the insider now directly owns 6,909 shares of the company’s stock, valued at $179,979.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,531 shares of company stock worth $197,645. 6.90% of the stock is currently owned by company 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.