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

Key Points

• First Interstate BancSystem declared a quarterly dividend of $0.47 per share, payable May 21 to shareholders of record on May 11 (ex-dividend May 11), implying an annual yield of about 5.4%.
• The dividend appears covered by earnings—First Interstate's current payout ratio is 71.2% and analysts forecast roughly $2.98 EPS next year (implying a projected payout ratio near 63%), and the company recently beat quarterly EPS estimates ($0.61 vs. $0.60).

First Interstate BancSystem, Inc. (NASDAQ:FIBK - Get Free Report) announced a quarterly dividend on Wednesday, April 29th. Shareholders of record on Monday, May 11th will be given a dividend of 0.47 per share by the financial services provider on Thursday, May 21st. This represents a c) dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend is Monday, May 11th.

First Interstate BancSystem has decreased its dividend by an average of 0.0%annually 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 $2.98 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 63.1%.

First Interstate BancSystem Trading Up 1.3%

Shares of First Interstate BancSystem stock opened at $34.87 on Thursday. First Interstate BancSystem has a 52-week low of $25.81 and a 52-week high of $39.26. The firm has a market capitalization of $3.53 billion, a PE ratio of 11.91 and a beta of 0.77. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.72 and a quick ratio of 0.72. The company's fifty day moving average price is $34.22 and its two-hundred day moving average price is $34.40.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $41.10 million for the quarter, compared to analyst estimates of $243.26 million. First Interstate BancSystem had a net margin of 21.40% and a return on equity of 8.83%. During the same period in the previous year, the business earned $0.49 EPS. On average, analysts expect that First Interstate BancSystem will post 2.71 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.