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. Stockholders of record on Monday, February 10th will be paid 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 dividend yield of 5.72%. The ex-dividend date is Monday, February 10th.

First Interstate BancSystem has increased its dividend by an average of 4.7% annually over the last three years. First Interstate BancSystem has a payout ratio of 68.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Interstate BancSystem to earn $2.71 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 69.4%.

First Interstate BancSystem Stock Performance

FIBK stock opened at $32.86 on Friday. The firm has a market cap of $3.43 billion, a P/E ratio of 15.00 and a beta of 0.85. The stock’s 50 day simple moving average is $32.88 and its 200 day simple moving average is $31.64. 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 quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 earnings per share for the quarter, beating 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%. As a group, equities research analysts predict that First Interstate BancSystem will post 2.54 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of First Interstate BancSystem from $29.00 to $30.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd. StockNews.com lowered shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Tuesday, December 24th. DA Davidson reaffirmed a “buy” rating and set a $42.00 price target on shares of First Interstate BancSystem in a research note on Thursday, January 30th. Piper Sandler cut their price objective on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, UBS Group started coverage on shares of First Interstate BancSystem in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $35.00 price target on the stock. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.14.

Insider Buying and Selling at First Interstate BancSystem

In related news, major shareholder James R. Scott, Jr. sold 6,067 shares of the business’s 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 approximately $2,600,851.50. The trade was a 7.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jonathan R. Scott sold 6,500 shares of First Interstate BancSystem stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total transaction of $222,170.00. Following the sale, the director now directly owns 958,710 shares of the company’s stock, valued at $32,768,707.80. This trade represents a 0.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,617 shares of company stock valued at $1,176,772 in the last 90 days. 6.90% of the stock is currently owned by corporate 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.