First Interstate BancSystem (NASDAQ:FIBK) Issues Quarterly Earnings Results

First Interstate BancSystem (NASDAQ:FIBK) posted its quarterly earnings results on Thursday. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.55 by $0.03, Briefing.com reports. First Interstate BancSystem had a return on equity of 8.22% and a net margin of 17.76%. During the same period in the previous year, the business posted $0.66 earnings per share.

First Interstate BancSystem Stock Performance

FIBK traded up $0.20 during trading on Friday, reaching $32.35. 744,771 shares of the company were exchanged, compared to its average volume of 803,161. The stock has a market cap of $3.38 billion, a P/E ratio of 12.89 and a beta of 0.82. The firm has a 50 day moving average of $27.76 and a 200 day moving average of $27.17. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.90. First Interstate BancSystem has a 52 week low of $20.81 and a 52 week high of $33.00.

First Interstate BancSystem Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, August 5th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.88 dividend on an annualized basis and a yield of 5.81%. First Interstate BancSystem’s payout ratio is currently 74.90%.

Analyst Ratings Changes

Several analysts have commented on FIBK shares. Barclays lifted their price target on First Interstate BancSystem from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. StockNews.com cut First Interstate BancSystem from a “hold” rating to a “sell” rating in a report on Thursday, July 18th. Piper Sandler boosted their target price on First Interstate BancSystem from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. Stephens reiterated an “overweight” rating and set a $32.00 target price on shares of First Interstate BancSystem in a report on Monday, June 24th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $29.00 target price on shares of First Interstate BancSystem in a report on Monday, June 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.40.

Insider Buying and Selling

In other news, Director Jonathan R. Scott sold 29,499 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $25.29, for a total value of $746,029.71. Following the completion of the transaction, the director now owns 1,021,663 shares of the company’s stock, valued at $25,837,857.27. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Jonathan R. Scott sold 29,499 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $25.29, for a total value of $746,029.71. Following the completion of the transaction, the director now owns 1,021,663 shares of the company’s stock, valued at $25,837,857.27. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Julie A. Scott sold 209,831 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $25.29, for a total value of $5,306,625.99. Following the completion of the transaction, the insider now directly owns 879,869 shares of the company’s stock, valued at approximately $22,251,887.01. The disclosure for this sale can be found here. 6.90% of the stock is owned by company 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. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.