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

First Interstate BancSystem, Inc. (NASDAQ:FIBK) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors of record on Monday, May 6th will be given 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 yield of 6.90%. The ex-dividend date is Friday, May 3rd.

First Interstate BancSystem has raised its dividend 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. Research 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 1.2 %

NASDAQ FIBK traded up $0.31 during mid-day trading on Friday, hitting $27.26. The company’s stock had a trading volume of 22,047 shares, compared to its average volume of 824,588. The company’s 50 day simple moving average is $26.08 and its 200 day simple moving average is $26.66. First Interstate BancSystem has a twelve month low of $20.81 and a twelve month high of $32.54. 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 firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 10.74 and a beta of 0.87.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $254.50 million. Analysts anticipate that First Interstate BancSystem will post 2.17 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FIBK shares. TheStreet cut First Interstate BancSystem from a “b-” rating to a “c+” rating in a research report on Monday, March 18th. Stephens reiterated an “overweight” rating and set a $32.00 price target on shares of First Interstate BancSystem in a research report on Thursday. Barclays started coverage on First Interstate BancSystem in a research report on Friday, March 8th. They set an “equal weight” rating and a $28.00 price target on the stock. Finally, Wells Fargo & Company upped their price target on 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $29.00.

Insider Transactions at First Interstate BancSystem

In other news, EVP Karlyn M. Knieriem sold 2,900 shares of First Interstate BancSystem stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $26.76, for a total transaction of $77,604.00. Following the completion of the sale, the executive vice president now directly owns 20,599 shares of the company’s stock, valued at approximately $551,229.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Lorrie F. Asker sold 1,921 shares of First Interstate BancSystem stock in a transaction 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 completion of the sale, the insider now directly owns 6,909 shares of the company’s stock, valued at approximately $179,979.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the transaction, the executive vice president now owns 20,599 shares in the company, valued at approximately $551,229.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,531 shares of company stock valued at $197,645. Insiders own 6.90% of the company’s stock.

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.