First Interstate BancSystem, Inc. (NASDAQ:FIBK) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. grew its holdings in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 39.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 62,928 shares of the financial services provider's stock after purchasing an additional 17,879 shares during the quarter. Ameriprise Financial Inc. owned about 0.06% of First Interstate BancSystem worth $2,043,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of FIBK. Swiss National Bank raised its stake in shares of First Interstate BancSystem by 0.5% in the fourth quarter. Swiss National Bank now owns 185,046 shares of the financial services provider's stock valued at $6,008,000 after acquiring an additional 1,000 shares during the last quarter. Barclays PLC lifted its position in shares of First Interstate BancSystem by 18.6% in the third quarter. Barclays PLC now owns 206,213 shares of the financial services provider's stock worth $6,326,000 after purchasing an additional 32,298 shares in the last quarter. Jennison Associates LLC boosted its holdings in First Interstate BancSystem by 73.9% during the fourth quarter. Jennison Associates LLC now owns 1,540,490 shares of the financial services provider's stock worth $50,020,000 after purchasing an additional 654,688 shares during the last quarter. Natixis Advisors LLC bought a new stake in First Interstate BancSystem during the fourth quarter worth $1,366,000. Finally, JPMorgan Chase & Co. raised its position in First Interstate BancSystem by 3.8% during the fourth 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. 88.71% of the stock is currently owned by institutional investors and hedge funds.

First Interstate BancSystem Price Performance

FIBK stock traded down $0.14 during trading on Friday, hitting $27.07. 1,549,602 shares of the company's stock traded hands, compared to its average volume of 679,971. The business has a fifty day simple moving average of $26.80 and a 200 day simple moving average of $30.31. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 12.36 and a beta of 0.76. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. First Interstate BancSystem, Inc. has a 52 week low of $22.95 and a 52 week high of $36.77.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07). The business had revenue of $42.00 million for the quarter, compared to analysts' expectations of $253.50 million. First Interstate BancSystem had a net margin of 15.94% and a return on equity of 6.92%. The company's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the business posted $0.57 EPS. As a group, research analysts expect that First Interstate BancSystem, Inc. will post 2.53 EPS for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Monday, May 12th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.94%. The ex-dividend date of this dividend was Monday, May 12th. First Interstate BancSystem's payout ratio is 89.10%.

Wall Street Analysts Forecast Growth

FIBK has been the subject of several recent analyst reports. Piper Sandler cut their price objective on shares of First Interstate BancSystem from $42.00 to $41.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Stephens decreased their price target on First Interstate BancSystem from $39.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Wells Fargo & Company decreased their target price on First Interstate BancSystem from $30.00 to $25.00 and set an "underweight" rating for the company in a research note on Wednesday, April 9th. Wall Street Zen upgraded First Interstate BancSystem from a "sell" rating to a "hold" rating in a report on Saturday, May 10th. Finally, Barclays reduced their price objective on First Interstate BancSystem from $31.00 to $28.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, First Interstate BancSystem has a consensus rating of "Hold" and an average price target of $35.00.

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.