First Interstate Bancsystem (FIBK) Declares $0.47 Dividend
First Interstate Bancsystem said on January 26, 2023 that its board of directors declared a regular quarterly dividend of $0.47 per share ($1.88 annualized). Shareholders of record as of February 6, 2023 will receive the payment on February 17, 2023. Previously, the company paid $0.47 per share.
At the most recent share price of $33.62 / share, the stock's dividend yield was 5.59%. Additionally, the company's dividend payout ratio is 0.97, indicating it is retaining a low percentage of its earnings to reinvest in growth opportunities.
The company's 3-Year dividend growth rate is 0.52%.
Analyst Price Forecast Suggests 48.16% Upside
As of January 30, 2023, the average one-year price target for First Interstate Bancsystem is $49.81. The forecasts range from a low of $44.44 to a high of $57.75. The average price target represents an increase of 48.16% from its latest reported closing price of $33.62.
The projected annual revenue for First Interstate Bancsystem is $1,333MM, an increase of 30.29%. The projected annual EPS is $4.47, an increase of 128.51%.
Fund Sentiment
There are 567 funds or institutions reporting positions in First Interstate Bancsystem. This is a decrease of 8 owner(s) or 1.39%.
Average portfolio weight of all funds dedicated to US:FIBK is 0.4417%, an increase of 2.6355%. Total shares owned by institutions decreased in the last three months by 5.62% to 105,166K shares.
What are large shareholders doing?
First Interstate Bank holds 6,158,947 shares representing 5.90% ownership of the company. In it's prior filing, the firm reported owning 7,951,944 shares, representing a decrease of 29.11%. The firm decreased its portfolio allocation in FIBK by 15.70% over the last quarter.
Macquarie Group holds 4,372,165 shares representing 4.19% ownership of the company. In it's prior filing, the firm reported owning 5,691,848 shares, representing a decrease of 30.18%. The firm decreased its portfolio allocation in FIBK by 67.01% over the last quarter.
Franklin Resources holds 3,101,864 shares representing 2.97% ownership of the company. In it's prior filing, the firm reported owning 1,508,404 shares, representing an increase of 51.37%. The firm decreased its portfolio allocation in FIBK by 47.10% over the last quarter.
Massachusetts Financial Services holds 2,909,322 shares representing 2.79% ownership of the company. In it's prior filing, the firm reported owning 3,405,104 shares, representing a decrease of 17.04%. The firm decreased its portfolio allocation in FIBK by 85.02% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,743,990 shares representing 2.63% ownership of the company. In it's prior filing, the firm reported owning 2,756,373 shares, representing a decrease of 0.45%. The firm increased its portfolio allocation in FIBK by 9.87% over the last quarter.
First Interstate BancSystem Background Information
(This description is provided by the company.)
First Interstate BancSystem, Inc. is a financial and bank holding company focused on community banking. Incorporated in 1971 and headquartered in Billings, Montana, the Company operates banking offices, including detached drive-up facilities, in communities across Idaho, Montana, Oregon, South Dakota, Washington, and Wyoming, in addition to offering online and mobile banking services. Through its bank subsidiary, First Interstate Bank, the Company delivers a comprehensive range of banking products and services to individuals, businesses, municipalities, and others throughout the Company's market areas.
This story originally appeared on Fintel.