First Interstate BancSystem, Inc. (FIBK) To Go Ex-Dividend on February 10th

First Interstate BancSystem, Inc. (NASDAQ:FIBK) announced a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Shareholders 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 by an average of 4.7% per year over the last three years. First Interstate BancSystem has a dividend payout ratio of 68.1% indicating that 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 Trading Down 1.1 %

FIBK stock opened at $32.86 on Friday. The firm has a fifty day moving average price of $32.88 and a 200 day moving average price of $31.64. First Interstate BancSystem has a fifty-two week low of $24.16 and a fifty-two week high of $36.77. The firm has a market cap of $3.43 billion, a PE ratio of 15.00 and a beta of 0.85. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. Sell-side analysts anticipate that First Interstate BancSystem will post 2.53 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder James R. Scott, Jr. sold 6,067 shares of First Interstate BancSystem stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $34.50, for a total transaction of $209,311.50. Following the transaction, the insider now directly owns 75,387 shares of the company’s stock, valued at $2,600,851.50. This trade represents a 7.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Julie A. Scott sold 22,050 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $33.80, for a total value of $745,290.00. Following the sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,617 shares of company stock valued at $1,176,772. Corporate insiders own 6.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on FIBK. StockNews.com downgraded First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Tuesday, December 24th. Piper Sandler lowered their target price on shares of First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their price target 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 decreased their price objective on shares of 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, Wells Fargo & Company boosted their target price on First Interstate BancSystem from $29.00 to $30.00 and gave the company an “underweight” rating in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, First Interstate BancSystem currently has an average rating of “Hold” and an average target price of $36.14.

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.