First Interstate BancSystem, Inc. (FIBK) to Issue Quarterly Dividend of $0.47 on February 20th

First Interstate BancSystem, Inc. (NASDAQ:FIBK) declared a quarterly dividend on Tuesday, January 27th. Stockholders of record on Tuesday, February 10th will be given a dividend of 0.47 per share by the financial services provider on Friday, February 20th. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Tuesday, February 10th.

First Interstate BancSystem has increased its dividend payment by an average of 0.1%annually over the last three years. First Interstate BancSystem has a payout ratio of 71.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Interstate BancSystem to earn $2.72 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 69.1%.

First Interstate BancSystem Stock Performance

Shares of First Interstate BancSystem stock traded down $0.92 during trading hours on Thursday, reaching $35.74. 974,801 shares of the stock traded hands, compared to its average volume of 1,015,948. The company has a 50 day moving average price of $35.29 and a 200 day moving average price of $32.68. First Interstate BancSystem has a one year low of $22.95 and a one year high of $38.78. The company has a quick ratio of 0.73, a current ratio of 0.74 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 15.08 and a beta of 0.80.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.44. First Interstate BancSystem had a net margin of 17.62% and a return on equity of 7.25%. The company had revenue of $205.10 million for the quarter, compared to the consensus estimate of $256.89 million. During the same quarter last year, the firm posted $0.50 earnings per share. The firm’s revenue was up 19.8% compared to the same quarter last year. On average, equities research analysts expect that First Interstate BancSystem will post 2.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FIBK. Barclays upped their price objective on First Interstate BancSystem from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Friday, December 19th. Weiss Ratings restated a “hold (c+)” rating on shares of First Interstate BancSystem in a research report on Monday, December 29th. Wall Street Zen cut First Interstate BancSystem from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. UBS Group reiterated a “neutral” rating and set a $37.00 price objective on shares of First Interstate BancSystem in a research note on Tuesday, January 6th. Finally, Keefe, Bruyette & Woods raised their target price on shares of First Interstate BancSystem from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $37.29.

First Interstate BancSystem Company Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.