CANADA LIFE ASSURANCE Co Raises Stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK)

CANADA LIFE ASSURANCE Co lifted its position in shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 3.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 36,620 shares of the financial services provider’s stock after purchasing an additional 1,200 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in First Interstate BancSystem were worth $1,188,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of First Interstate BancSystem by 6.8% during the 4th quarter. Vanguard Group Inc. now owns 9,229,785 shares of the financial services provider’s stock worth $299,691,000 after purchasing an additional 587,975 shares during the period. FMR LLC lifted its position in First Interstate BancSystem by 35.5% during the 4th quarter. FMR LLC now owns 6,786,334 shares of the financial services provider’s stock worth $220,352,000 after acquiring an additional 1,778,269 shares in the last quarter. Franklin Resources Inc. lifted its position in First Interstate BancSystem by 2.7% during the 4th quarter. Franklin Resources Inc. now owns 5,474,757 shares of the financial services provider’s stock worth $177,765,000 after acquiring an additional 145,842 shares in the last quarter. JPMorgan Chase & Co. lifted its position in First Interstate BancSystem by 3.8% during the 4th quarter. JPMorgan Chase & Co. now owns 2,936,868 shares of the financial services provider’s stock worth $95,360,000 after acquiring an additional 107,774 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in First Interstate BancSystem by 88.3% during the 4th quarter. Wellington Management Group LLP now owns 2,425,615 shares of the financial services provider’s stock worth $78,760,000 after acquiring an additional 1,137,401 shares in the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.

Wall Street Analysts Forecast Growth

FIBK has been the topic of several recent research reports. Piper Sandler reduced their price target on First Interstate BancSystem from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Wells Fargo & Company decreased their price target on shares of First Interstate BancSystem from $30.00 to $25.00 and set an “underweight” rating for the company in a research report on Wednesday, April 9th. DA Davidson reaffirmed a “buy” rating and issued a $42.00 price target on shares of First Interstate BancSystem in a report on Thursday, January 30th. Barclays decreased their price objective on shares of First Interstate BancSystem from $31.00 to $28.00 and set an “underweight” rating for the company in a report on Tuesday, April 8th. Finally, Stephens decreased their price objective on shares of First Interstate BancSystem from $39.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, First Interstate BancSystem presently has a consensus rating of “Hold” and an average price target of $35.00.

Insider Activity

In other news, Director John M. Heyneman, Jr. sold 1,335 shares of First Interstate BancSystem stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $32.56, for a total value of $43,467.60. Following the completion of the transaction, the director now directly owns 1,414,886 shares of the company’s stock, valued at approximately $46,068,688.16. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 8.20% of the company’s stock.

First Interstate BancSystem Trading Up 0.3 %

NASDAQ FIBK opened at $28.08 on Tuesday. First Interstate BancSystem, Inc. has a one year low of $22.95 and a one year high of $36.77. The company has a 50-day simple moving average of $27.92 and a 200-day simple moving average of $31.09. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market capitalization of $2.94 billion, a PE ratio of 12.82 and a beta of 0.81.

First Interstate BancSystem (NASDAQ:FIBK) last posted its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.49 by $0.01. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. On average, equities analysts forecast that First Interstate BancSystem, Inc. will post 2.53 earnings per share for the current year.

First Interstate BancSystem 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.