First Interstate BancSystem, Inc. (FIBK) To Go Ex-Dividend on February 10th

First Interstate BancSystem, Inc. (NASDAQ:FIBK) declared a quarterly dividend on Tuesday, January 27th. Stockholders of record on Tuesday, February 10th will be given a dividend of 0.47 per share by the financial services provider on Friday, February 20th. This represents a c) dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Tuesday, February 10th.

First Interstate BancSystem has decreased its dividend payment by an average of 0.0%annually over the last three years. First Interstate BancSystem has a payout ratio of 71.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First Interstate BancSystem to earn $2.72 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 69.1%.

First Interstate BancSystem Stock Up 2.2%

Shares of FIBK opened at $38.82 on Friday. The company has a market capitalization of $3.99 billion, a P/E ratio of 13.16 and a beta of 0.80. First Interstate BancSystem has a one year low of $22.95 and a one year high of $39.17. The business’s 50 day simple moving average is $36.00 and its 200-day simple moving average is $33.01. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.73 and a quick ratio of 0.72.

First Interstate BancSystem (NASDAQ:FIBK) last released its quarterly earnings results on Wednesday, January 28th. The financial services provider reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.44. First Interstate BancSystem had a return on equity of 8.83% and a net margin of 17.62%.The firm had revenue of $205.10 million during the quarter, compared to analysts’ expectations of $256.89 million. During the same period last year, the firm posted $0.50 EPS. The business’s revenue was up 19.8% on a year-over-year basis. As a group, sell-side analysts predict that First Interstate BancSystem will post 2.53 EPS for the current fiscal year.

Insider Transactions at First Interstate BancSystem

In other news, major shareholder Jonathan R. Scott sold 1,827 shares of First Interstate BancSystem stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $36.92, for a total transaction of $67,452.84. Following the completion of the sale, the insider owned 936,024 shares in the company, valued at $34,558,006.08. The trade was a 0.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John M. Heyneman, Jr. sold 30,432 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $31.03, for a total transaction of $944,304.96. Following the completion of the transaction, the director owned 1,414,636 shares in the company, valued at $43,896,155.08. This represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 45,432 shares of company stock worth $1,454,120 in the last quarter. 8.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. HoldCo Asset Management LP bought a new stake in First Interstate BancSystem in the second quarter valued at about $102,890,000. Vanguard Group Inc. grew its position in shares of First Interstate BancSystem by 13.7% during the 4th quarter. Vanguard Group Inc. now owns 10,048,419 shares of the financial services provider’s stock worth $347,675,000 after buying an additional 1,214,454 shares during the period. Azora Capital LP grew its position in shares of First Interstate BancSystem by 1,538.7% during the 3rd quarter. Azora Capital LP now owns 1,275,693 shares of the financial services provider’s stock worth $40,656,000 after buying an additional 1,197,843 shares during the period. UBS Group AG increased its stake in shares of First Interstate BancSystem by 140.5% in the 3rd quarter. UBS Group AG now owns 1,754,104 shares of the financial services provider’s stock valued at $55,903,000 after acquiring an additional 1,024,683 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of First Interstate BancSystem in the 2nd quarter valued at approximately $29,082,000. 88.71% of the stock is currently owned by institutional investors.

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.