First Interstate BancSystem, Inc. (FIBK) to Issue Quarterly Dividend of $0.47 on May 16th

First Interstate BancSystem, Inc. (NASDAQ:FIBK) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders 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 annualized dividend and a dividend yield of 6.88%. The ex-dividend date is Friday, May 3rd.

First Interstate BancSystem has increased its dividend payment by an average of 10.3% per year over the last three years. First Interstate BancSystem has a dividend payout ratio of 73.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 1.4 %

NASDAQ FIBK traded up $0.37 during trading on Friday, hitting $27.32. 75,390 shares of the company traded hands, compared to its average volume of 825,060. First Interstate BancSystem has a 12 month low of $20.81 and a 12 month high of $32.54. The business has a fifty day simple moving average of $26.08 and a 200 day simple moving average of $26.66. The company has a current ratio of 0.77, a quick ratio of 0.76 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $2.84 billion, a P/E ratio of 10.74 and a beta of 0.87.

First Interstate BancSystem (NASDAQ:FIBK) last released its earnings results on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. First Interstate BancSystem had a return on equity of 8.55% and a net margin of 18.04%. The business had revenue of $252.30 million for the quarter, compared to the consensus estimate of $254.50 million. As a group, sell-side analysts predict that First Interstate BancSystem will post 2.17 EPS for the current year.

Insider Transactions at First Interstate BancSystem

In other news, EVP Karlyn M. Knieriem sold 2,900 shares of the business’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 owns 20,599 shares of the company’s stock, valued at $551,229.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Lorrie F. Asker sold 1,921 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 6,909 shares of the company’s stock, valued at approximately $179,979.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Karlyn M. Knieriem sold 2,900 shares of First Interstate BancSystem stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $26.76, for a total transaction of $77,604.00. Following the sale, the executive vice president now directly owns 20,599 shares in the company, valued at approximately $551,229.24. The disclosure for this sale can be found here. Insiders sold 7,531 shares of company stock worth $197,645 over the last three months. 6.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on FIBK shares. Barclays began coverage on First Interstate BancSystem in a report on Friday, March 8th. They issued an “equal weight” rating and a $28.00 target price on the stock. TheStreet downgraded shares of First Interstate BancSystem from a “b-” rating to a “c+” rating in a research note on Monday, March 18th. Wells Fargo & Company lifted their price target on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Finally, Stephens reissued an “overweight” rating and issued a $32.00 price objective on shares of First Interstate BancSystem in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $29.00.

About First Interstate BancSystem

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.