First Interstate BancSystem, Inc. (FIBK) To Go Ex-Dividend on August 5th

First Interstate BancSystem, Inc. (NASDAQ:FIBK) announced a quarterly dividend on Wednesday, July 24th, Zacks reports. Stockholders of record on Monday, August 5th will be given a dividend of 0.47 per share by the financial services provider on Thursday, August 15th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.53%. The ex-dividend date is Monday, August 5th.

First Interstate BancSystem has raised its dividend by an average of 10.3% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. First Interstate BancSystem has a payout ratio of 73.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Interstate BancSystem to earn $2.55 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 73.7%.

First Interstate BancSystem Stock Performance

Shares of NASDAQ FIBK traded down $0.94 during midday trading on Friday, reaching $28.77. 941,693 shares of the company traded hands, compared to its average volume of 815,679. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 11.46 and a beta of 0.82. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a 50-day moving average price of $28.08 and a 200 day moving average price of $27.21. First Interstate BancSystem has a 52 week low of $20.81 and a 52 week high of $33.00.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. First Interstate BancSystem had a net margin of 17.76% and a return on equity of 8.22%. During the same period last year, the company posted $0.66 earnings per share. Sell-side analysts anticipate that First Interstate BancSystem will post 2.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Stephens boosted their price objective on First Interstate BancSystem from $32.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods boosted their price target on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Wells Fargo & Company raised their price objective on shares of First Interstate BancSystem from $25.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Piper Sandler boosted their target price on shares of First Interstate BancSystem from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Barclays raised their target price on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, First Interstate BancSystem presently has an average rating of “Hold” and a consensus target price of $33.33.

Insider Activity at First Interstate BancSystem

In related news, Director Jonathan R. Scott Trust Dtd 11 20,000 shares of First Interstate BancSystem stock in a transaction dated Tuesday, July 30th. The was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jonathan R. Scott Trust Dtd 11 20,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan R. Scott sold 29,499 shares of First Interstate BancSystem stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $25.29, for a total transaction of $746,029.71. Following the completion of the sale, the director now directly owns 1,021,663 shares of the company’s stock, valued at approximately $25,837,857.27. The disclosure for this sale can be found here. 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.