First Interstate BancSystem, Inc. (NASDAQ:FIBK) Plans Quarterly Dividend of $0.41

First Interstate BancSystem, Inc. (NASDAQ:FIBKGet Rating) declared a quarterly dividend on Monday, July 25th, Zacks reports. Shareholders of record on Tuesday, August 9th will be given a dividend of 0.41 per share by the financial services provider on Friday, August 19th. This represents a $1.64 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Monday, August 8th.

First Interstate BancSystem has a payout ratio of 41.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Interstate BancSystem to earn $3.95 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 41.5%.

First Interstate BancSystem Stock Performance

NASDAQ FIBK opened at $40.57 on Friday. The stock has a market cap of $4.44 billion, a PE ratio of 22.29 and a beta of 0.96. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.70 and a current ratio of 0.71. The firm has a 50-day moving average of $38.40 and a 200-day moving average of $37.36. First Interstate BancSystem has a 52-week low of $32.40 and a 52-week high of $45.91.

First Interstate BancSystem (NASDAQ:FIBKGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.16). First Interstate BancSystem had a return on equity of 9.11% and a net margin of 14.78%. The company had revenue of $288.90 million for the quarter, compared to analyst estimates of $271.40 million. During the same quarter last year, the business earned $0.69 earnings per share. On average, sell-side analysts anticipate that First Interstate BancSystem will post 3.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FIBK shares. TheStreet cut First Interstate BancSystem from a “b” rating to a “c” rating in a research report on Tuesday, May 31st. Janney Montgomery Scott upgraded shares of First Interstate BancSystem from a “neutral” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Tuesday, May 3rd. Keefe, Bruyette & Woods upgraded shares of First Interstate BancSystem from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research report on Monday, May 2nd. Finally, StockNews.com upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.00.

Insider Buying and Selling

In other news, CEO Kevin P. Riley bought 15,899 shares of the firm’s stock in a transaction on Wednesday, June 1st. The shares were purchased at an average cost of $37.33 per share, with a total value of $593,509.67. Following the acquisition, the chief executive officer now directly owns 92,555 shares in the company, valued at $3,455,078.15. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other First Interstate BancSystem news, CEO Kevin P. Riley purchased 15,899 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The shares were bought at an average price of $37.33 per share, for a total transaction of $593,509.67. Following the purchase, the chief executive officer now owns 92,555 shares in the company, valued at approximately $3,455,078.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jonathan R. Scott sold 5,000 shares of the company’s stock in a transaction on Monday, June 13th. The stock was sold at an average price of $36.03, for a total value of $180,150.00. Following the sale, the director now owns 11,001 shares of the company’s stock, valued at $396,366.03. The disclosure for this sale can be found here. Insiders sold 8,599 shares of company stock valued at $319,197 over the last quarter. 6.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Interstate BancSystem

Hedge funds have recently made changes to their positions in the stock. Advisor Group Holdings Inc. lifted its stake in First Interstate BancSystem by 5.7% in the 1st quarter. Advisor Group Holdings Inc. now owns 7,822 shares of the financial services provider’s stock valued at $288,000 after purchasing an additional 422 shares during the last quarter. Evergreen Capital Management LLC increased its holdings in shares of First Interstate BancSystem by 14.2% during the first quarter. Evergreen Capital Management LLC now owns 7,007 shares of the financial services provider’s stock worth $258,000 after buying an additional 873 shares in the last quarter. Baird Financial Group Inc. lifted its stake in shares of First Interstate BancSystem by 8.3% in the 1st quarter. Baird Financial Group Inc. now owns 11,535 shares of the financial services provider’s stock valued at $424,000 after acquiring an additional 886 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of First Interstate BancSystem by 13.0% during the 1st quarter. Raymond James & Associates now owns 9,640 shares of the financial services provider’s stock valued at $354,000 after acquiring an additional 1,107 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in First Interstate BancSystem by 263.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,081 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 1,508 shares during the last quarter. 69.42% of the stock is currently owned by institutional investors and hedge funds.

First Interstate BancSystem Company Profile

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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.

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Dividend History for First Interstate BancSystem (NASDAQ:FIBK)

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