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

First Interstate BancSystem, Inc. (NASDAQ:FIBK) declared a quarterly dividend on Thursday, October 22nd. Stockholders of record on Tuesday, November 3rd will be given 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 5.1%. The ex-dividend date is Tuesday, November 3rd.

First Interstate BancSystem has a dividend payout ratio of 71.2% meaning its dividend is sufficiently covered by earnings. Analysts expect First Interstate BancSystem to earn $2.85 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 66.0%.

First Interstate BancSystem Price Performance

Shares of NASDAQ FIBK opened at $36.88 on Friday. The company has a fifty day moving average price of $36.55 and a 200 day moving average price of $36.55. The firm has a market cap of $3.52 billion, a PE ratio of 10.98 and a beta of 0.73. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.09. First Interstate BancSystem has a 1-year low of $29.39 and a 1-year high of $40.60.

First Interstate BancSystem (NASDAQ:FIBK) last announced its earnings results on Thursday, October 22nd. The financial services provider reported $0.65 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.27). First Interstate BancSystem had a return on equity of 9.55% and a net margin of 23.63%. The business had revenue of $249.50 million for the quarter, compared to analyst estimates of $247.93 million. Research analysts predict that First Interstate BancSystem will post 2.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FIBK. Wells Fargo & Company restated an “underweight” rating and issued a $34.00 price target (down from $36.00) on shares of First Interstate BancSystem in a research note on Monday, August 10th. Benchmark raised First Interstate BancSystem to a “hold” rating in a report on Wednesday, September 23rd. Wall Street Zen upgraded shares of First Interstate BancSystem from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. Barclays lifted their price objective on shares of First Interstate BancSystem from $37.00 to $38.00 and gave the stock an “underweight” rating in a research note on Monday, October 5th. Finally, DA Davidson reissued a “neutral” rating and issued a $39.00 price objective on shares of First Interstate BancSystem in a report on Monday, July 27th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $37.00.

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.