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

First Interstate BancSystem, Inc. (NASDAQ:FIBK) declared a quarterly dividend on Wednesday, July 22nd. Shareholders of record on Tuesday, August 4th will be given a dividend of 0.47 per share by the financial services provider on Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, August 4th.

First Interstate BancSystem has decreased its dividend by an average of 0.0%per year over the last three years. First Interstate BancSystem has a dividend payout ratio of 71.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First Interstate BancSystem to earn $3.00 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 62.7%.

First Interstate BancSystem Stock Down 0.8%

Shares of NASDAQ:FIBK opened at $38.10 on Friday. First Interstate BancSystem has a 52-week low of $27.60 and a 52-week high of $40.60. The firm has a market capitalization of $3.70 billion, a P/E ratio of 12.41 and a beta of 0.76. The stock has a 50 day moving average price of $37.09 and a 200-day moving average price of $36.01. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.19. The company had revenue of $99.10 million for the quarter, compared to analysts’ expectations of $249.32 million. First Interstate BancSystem had a return on equity of 9.13% and a net margin of 22.64%. As a group, equities research analysts anticipate that First Interstate BancSystem will post 2.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Julie A. Scott sold 15,000 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $35.97, for a total transaction of $539,550.00. Following the completion of the transaction, the insider directly owned 488,359 shares in the company, valued at $17,566,273.23. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Jonathan R. Scott sold 4,500 shares of First Interstate BancSystem stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $36.29, for a total value of $163,305.00. Following the completion of the transaction, the insider directly owned 862,128 shares of the company’s stock, valued at approximately $31,286,625.12. This represents a 0.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 32,392 shares of company stock worth $1,161,552. Insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. bought a new position in shares of First Interstate BancSystem in the fourth quarter worth approximately $25,000. Kestra Advisory Services LLC bought a new stake in shares of First Interstate BancSystem during the fourth quarter valued at approximately $29,000. EverSource Wealth Advisors LLC increased its position in shares of First Interstate BancSystem by 139.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,481 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 862 shares in the last quarter. First Horizon Corp raised its holdings in First Interstate BancSystem by 56.0% in the 4th quarter. First Horizon Corp now owns 1,268 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 455 shares during the last quarter. Finally, CIBC Private Wealth Group LLC purchased a new position in First Interstate BancSystem in the 3rd quarter worth approximately $52,000. 88.71% of the stock is owned by hedge funds and other institutional investors.

About First Interstate BancSystem

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.