First Interstate Bancsystem Inc (NASDAQ:FIBK) Declares Dividend Increase – $0.31 Per Share

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First Interstate Bancsystem Inc (NASDAQ:FIBK) announced a dividend on Wednesday, October 30th, Fidelity reports. Shareholders of record on Saturday, November 9th will be paid a dividend of 0.31 per share by the financial services provider on Tuesday, November 19th. The ex-dividend date of this dividend is Thursday, November 7th. This is a boost from First Interstate Bancsystem’s previous dividend of $0.20.

FIBK traded up $0.94 during trading on Friday, reaching $42.90. 11,459 shares of the company traded hands, compared to its average volume of 200,672. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.82 and a current ratio of 0.82. First Interstate Bancsystem has a 12-month low of $34.61 and a 12-month high of $43.97. The firm has a fifty day simple moving average of $40.96 and a 200 day simple moving average of $39.80. The company has a market cap of $2.79 billion, a P/E ratio of 14.70, a PEG ratio of 1.74 and a beta of 1.19.

First Interstate Bancsystem (NASDAQ:FIBK) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03). The firm had revenue of $166.30 million for the quarter, compared to the consensus estimate of $167.38 million. First Interstate Bancsystem had a net margin of 24.08% and a return on equity of 10.48%. As a group, sell-side analysts expect that First Interstate Bancsystem will post 3.09 earnings per share for the current fiscal year.

A number of research analysts have recently commented on the company. ValuEngine upgraded First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded First Interstate Bancsystem from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, BidaskClub upgraded First Interstate Bancsystem from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $42.48.

In related news, Director Ross E. Leckie sold 1,219 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $39.27, for a total value of $47,870.13. Following the completion of the sale, the director now directly owns 17,027 shares in the company, valued at $668,650.29. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ross E. Leckie sold 3,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $40.60, for a total value of $121,800.00. Following the completion of the sale, the director now owns 14,027 shares of the company’s stock, valued at $569,496.20. The disclosure for this sale can be found here. 24.93% of the stock is currently owned by corporate insiders.

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. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.

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Dividend History for First Interstate Bancsystem (NASDAQ:FIBK)

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