First Interstate BancSystem, Inc. (FIBK) to Distribute Quarterly Dividend of $0.47 on November 13th

First Interstate BancSystem, Inc. (NASDAQ:FIBK) declared a quarterly dividend on Wednesday, October 21st. Stockholders of record on Tuesday, November 3rd will be paid a dividend of $0.47 per share by the financial services provider on Friday, November 13th. This represents a $1.88 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Tuesday, November 3rd.

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 $2.91 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 64.6%.

First Interstate BancSystem Price Performance

Shares of NASDAQ FIBK opened at $37.65 on Friday. The business has a 50 day moving average price of $36.45 and a two-hundred day moving average price of $36.29. The firm has a market cap of $3.59 billion, a PE ratio of 11.73 and a beta of 0.73. First Interstate BancSystem has a fifty-two week low of $29.39 and a fifty-two week high of $40.60. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.09.

First Interstate BancSystem (NASDAQ:FIBK) last issued its earnings results on Thursday, October 22nd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.03). The company had revenue of $249.50 million during the quarter, compared to analyst estimates of $247.93 million. First Interstate BancSystem had a net margin of 29.18% and a return on equity of 9.49%. Sell-side analysts expect that First Interstate BancSystem will post 2.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on FIBK shares. Wall Street Zen lowered First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Saturday, October 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Interstate BancSystem in a research note on Monday, September 28th. DA Davidson reaffirmed a “neutral” rating and issued a $39.00 price objective on shares of First Interstate BancSystem in a research note on Monday, July 27th. Benchmark upgraded First Interstate BancSystem to a “hold” rating in a report on Wednesday, September 23rd. Finally, Barclays lifted their target price on shares of First Interstate BancSystem from $37.00 to $38.00 and gave the stock an “underweight” rating in a research report on Monday, October 5th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $37.14.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a financial holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides community banking services to individuals, businesses, agricultural customers and governmental entities.

First Interstate Bank offers deposit accounts, consumer and commercial loans, mortgage lending, credit cards, cash-management and treasury-management services, online and mobile banking, and wealth-management and investment services.