First Interstate BancSystem, Inc. (FIBK) To Go Ex-Dividend on November 4th

First Interstate BancSystem, Inc. (NASDAQ:FIBK) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders of record on Monday, November 4th will be given a dividend of 0.47 per share by the financial services provider on Thursday, November 14th. This represents a $1.88 annualized dividend and a yield of 6.07%. The ex-dividend date is Monday, November 4th.

First Interstate BancSystem has raised its dividend payment by an average of 10.3% per year over the last three years and has raised its dividend every year for the last 11 years. First Interstate BancSystem has a dividend payout ratio of 75.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect First Interstate BancSystem to earn $2.59 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 72.6%.

First Interstate BancSystem Stock Performance

NASDAQ FIBK traded down $1.06 during trading on Friday, reaching $30.95. The company’s stock had a trading volume of 1,014,911 shares, compared to its average volume of 679,157. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 12.33 and a beta of 0.81. The firm has a 50 day moving average price of $30.46 and a 200 day moving average price of $28.61. First Interstate BancSystem has a 12 month low of $22.68 and a 12 month high of $33.00.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). First Interstate BancSystem had a net margin of 17.22% and a return on equity of 8.19%. During the same quarter last year, the company earned $0.70 EPS. As a group, equities analysts anticipate that First Interstate BancSystem will post 2.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. DA Davidson upped their target price on First Interstate BancSystem from $27.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Piper Sandler reiterated an “overweight” rating and set a $38.00 target price on shares of First Interstate BancSystem in a research report on Monday, August 26th. Keefe, Bruyette & Woods upped their price target on shares of First Interstate BancSystem from $29.00 to $31.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Wells Fargo & Company lowered shares of First Interstate BancSystem from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $30.00 to $28.00 in a report on Tuesday, October 1st. Finally, StockNews.com cut shares of First Interstate BancSystem from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, First Interstate BancSystem presently has a consensus rating of “Hold” and an average price target of $33.17.

First Interstate BancSystem Company Profile

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.