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

First Interstate BancSystem, Inc. (NASDAQ:FIBK) declared a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Tuesday, August 4th will be paid a dividend of 0.47 per share by the financial services provider on Friday, August 14th. This represents a c) annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, August 4th.

First Interstate BancSystem has decreased its dividend payment by an average of 0.0%per year over the last three years. 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 $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 Stock Down 0.8%

First Interstate BancSystem stock opened at $38.10 on Friday. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 12.41 and a beta of 0.76. First Interstate BancSystem has a 52 week low of $27.60 and a 52 week high of $40.60. The business’s 50-day moving average price is $37.09 and its 200 day moving average price is $36.01. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09.

First Interstate BancSystem (NASDAQ:FIBK) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.19. First Interstate BancSystem had a return on equity of 9.13% and a net margin of 22.64%.The company had revenue of $99.10 million during the quarter, compared to the consensus estimate of $249.32 million. As a group, sell-side analysts anticipate that First Interstate BancSystem will post 2.66 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Julie A. Scott sold 15,000 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $35.97, for a total transaction of $539,550.00. Following the transaction, the insider owned 488,359 shares of the company’s stock, valued at approximately $17,566,273.23. This represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Jonathan R. Scott sold 4,500 shares of First Interstate BancSystem stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $36.29, for a total transaction of $163,305.00. Following the completion of the transaction, the insider owned 862,128 shares of the company’s stock, valued at $31,286,625.12. This trade represents a 0.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 32,392 shares of company stock valued at $1,161,552 over the last ninety days. Insiders own 8.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in First Interstate BancSystem by 13.7% in the fourth quarter. Vanguard Group Inc. now owns 10,048,419 shares of the financial services provider’s stock worth $347,675,000 after acquiring an additional 1,214,454 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of First Interstate BancSystem by 20.4% during the third quarter. Wellington Management Group LLP now owns 5,915,425 shares of the financial services provider’s stock worth $188,525,000 after purchasing an additional 1,003,021 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in First Interstate BancSystem by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 5,630,789 shares of the financial services provider’s stock valued at $188,066,000 after buying an additional 231,405 shares during the last quarter. State Street Corp increased its holdings in First Interstate BancSystem by 29.7% in the fourth quarter. State Street Corp now owns 5,482,245 shares of the financial services provider’s stock valued at $189,686,000 after buying an additional 1,254,321 shares during the last quarter. Finally, Capital International Investors acquired a new stake in First Interstate BancSystem in the fourth quarter valued at $92,504,000. 88.71% of the stock is owned by institutional investors and hedge funds.

About First Interstate BancSystem

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.