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

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 5.1%. The ex-dividend date of this dividend is Tuesday, November 3rd.

First Interstate BancSystem has a payout ratio of 71.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 3.4%

First Interstate BancSystem stock opened at $36.88 on Friday. First Interstate BancSystem has a 52 week low of $29.39 and a 52 week high of $40.60. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 11.35 and a beta of 0.73. The company has a 50 day moving average price of $36.55 and a 200 day moving average price of $36.55.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on FIBK. Wells Fargo & Company reaffirmed 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. Wall Street Zen raised First Interstate BancSystem from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. Weiss Ratings restated a “buy (b)” rating on shares of First Interstate BancSystem in a research note on Monday, September 28th. Benchmark raised shares of First Interstate BancSystem to a “hold” rating in a report on Wednesday, September 23rd. Finally, DA Davidson reiterated a “neutral” rating and set a $39.00 target price on shares of First Interstate BancSystem in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock 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.