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

First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) declared 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 dividend yield of 5.92%. The ex-dividend date is Monday, February 10th.

First Interstate BancSystem has raised 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% meaning its dividend is sufficiently covered by earnings. 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 Down 3.6 %

FIBK stock traded down $1.20 during trading on Monday, reaching $31.75. 989,304 shares of the stock were exchanged, compared to its average volume of 632,672. First Interstate BancSystem has a twelve month low of $24.16 and a twelve month high of $36.77. The firm has a market cap of $3.32 billion, a P/E ratio of 14.50 and a beta of 0.85. The firm's 50 day moving average is $33.10 and its 200 day moving average is $31.61. 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 (NASDAQ:FIBK - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, topping the consensus estimate 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, research analysts forecast that First Interstate BancSystem will post 2.54 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. StockNews.com cut First Interstate BancSystem from a "hold" rating to a "sell" rating in a research note on Tuesday, December 24th. Keefe, Bruyette & Woods raised their target price on First Interstate BancSystem from $32.00 to $36.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Piper Sandler cut their target price on shares of First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating on the stock in a research note on Monday. Stephens decreased their price target 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. Finally, Wells Fargo & Company lifted their price objective on First Interstate BancSystem from $29.00 to $30.00 and gave the company an "underweight" rating in a research report on Monday. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $36.14.

Insider Transactions at First Interstate BancSystem

In other First Interstate BancSystem news, major shareholder James R. Scott, Jr. sold 6,067 shares of the company's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $34.50, for a total value of $209,311.50. Following the completion of the sale, the insider now owns 75,387 shares in the company, valued at $2,600,851.50. This 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 hyperlink. Also, Director Jonathan R. Scott sold 6,500 shares of First Interstate BancSystem stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $34.18, for a total value of $222,170.00. Following the transaction, the director now directly owns 958,710 shares in the company, valued at approximately $32,768,707.80. The trade was a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,837 shares of company stock valued at $1,839,583 in the last quarter. 6.90% of the stock is owned by insiders.

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.