First Interstate BancSystem, Inc. (NASDAQ:FIBK – Get Free Report) declared a quarterly dividend on Wednesday, July 22nd. Investors of record on Tuesday, August 4th will be given a dividend of 0.47 per share by the financial services provider on Friday, August 14th. This represents a c) dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Tuesday, August 4th.
First Interstate BancSystem has decreased its dividend by an average of 0.0%per year over the last three years. First Interstate BancSystem has a payout ratio of 71.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First Interstate BancSystem to earn $3.00 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 62.7%.
First Interstate BancSystem Price Performance
Shares of NASDAQ:FIBK opened at $38.10 on Friday. The firm has a 50 day moving average of $37.09 and a 200-day moving average of $36.01. The stock has a market capitalization of $3.70 billion, a PE ratio of 12.41 and a beta of 0.76. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. First Interstate BancSystem has a 12 month low of $27.60 and a 12 month high of $40.60.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the company. Wall Street Zen raised First Interstate BancSystem from a “strong sell” rating to a “sell” rating in a report on Monday, June 22nd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $37.00 target price (down from $38.00) on shares of First Interstate BancSystem in a report on Friday, May 1st. DA Davidson lowered shares of First Interstate BancSystem from a “buy” rating to a “neutral” rating and decreased their price target for the company from $41.00 to $39.00 in a report on Wednesday, May 27th. Wells Fargo & Company raised their target price on shares of First Interstate BancSystem from $30.00 to $36.00 and gave the company an “underweight” rating in a research report on Monday, March 30th. Finally, Piper Sandler reduced their target price on shares of First Interstate BancSystem from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, April 2nd. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $37.33.
Read Our Latest Report on First Interstate BancSystem
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.
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