Franklin Mutual Advisers LLC has recently announced that it has increased stake in First Interstate BancSystem Inc. (NASDAQ:FIBK) by 6.69%. After grabbing 3.31 million shares, the institutional investor is now in possession of 0.21 million shares of the Financial Company. The new investment brought the stake of investor firm to 3.17% having worth around $117.61 million. Moreover, Fidelity Management & Research Co increased its share by 82491.0 to have a control over 3.21 million shares. And Wellington Management Co. LLP raised its holdings to 32512.0 shares by acquiring 2.32 million shares or 2.23% of the stake.
First Interstate BancSystem Inc. (FIBK) concluded trading on 03/16/23 at a closing price of $31.72, with 1.23 million shares of worth about $38.98 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -21.91% during that period and on Thursday the price saw a gain of about 1.05%. Currently the company’s common shares owned by public are about 104.46M shares, out of which, 103.39M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the FIBK stock and their offered price forecasts bring an average price target of $39.86. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $46.00 and could fall to a lowest price of $33.00. The stock’s current price level is 22.63% above of average price target set by the analysts, while a rise to estimated low would result in gain of 3.88% for the stock. However, touching the estimated high of $46.00 would mean a gain of 31.04% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 74 times over the past 12 months. They bought 8,924,793 shares in 36 of the transactions. In 38 selling transactions, insiders dumped 236,421 shares.
Vanguard Total Stock Market Index, Franklin Small Cap Value Fund, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in First Interstate BancSystem Inc. Vanguard Total Stock Market Index is currently holding 2.39 million shares of worth totaling $84.87 million. The company recently came buying 1474.0 shares which brought its stake up to 2.29% of the company’s outstanding shares. Franklin Small Cap Value Fund bought 94319.0 shares, after which its hold over company’s outstanding shares expand to 2.29%, leaving 2.39 million shares with the mutual fund that have a worth of about $84.85 million. Vanguard Small Cap Index Fund, after buying 2.03 million shares, have now control over 1.94% of the stake in the company. It holds 11122.0 shares of worth $72.12 million.
First Interstate BancSystem Inc. (NASDAQ: FIBK) started trading at $30.91, below -$0.48 from concluding price of the previous day. However, the stock later moved at a day high price of 32.71, or with a gain of 1.05%. Stock saw a price change of -0.69% in past 5 days and over the past one month there was a price change of -13.31%. Year-to-date (YTD), FIBK shares are showing a performance of -17.93% which decreased to -19.16% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $29.50 but also hit the highest price of $46.34 during that period. The average intraday trading volume for First Interstate BancSystem Inc. shares is 727.61K. The stock is currently trading -8.33% below its 20-day simple moving average (SMA20), while that difference is down -12.75% for SMA50 and it goes to -19.91% lower than SMA200.
Franklin Mutual Advisers LLC acquired 3.31 million shares of First Interstate BancSystem Inc. having value of about $117.61 million. Data submitted at the U.S SEC by Franklin Mutual Advisers LLC revealed that the firm now holds 0.21 million shares in the company valued at close to $6583676.32, or have control over 6.69% stake in the company. First Interstate BancSystem Inc. (NASDAQ: FIBK) currently have 104.46M outstanding shares and institutions hold larger chunk of about 79.20% of that. Holding of mutual funds in the company is about 30.06% while other institutional holders and individual stake holders have control over 47.79% and 17.43% of the stake respectively.
The stock has a current market capitalization of $3.33B and its 3Y-monthly beta is at 0.88. PE ratio of stock for trailing 12 months is 17.13, while it has posted earnings per share of $1.85 in the same period. Its PEG reads 2.14 while making debt-to-equity ratio of 0.09. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FIBK, volatility over the week remained 9.61% while standing at 4.09% over the month.
Analysts are in expectations that First Interstate BancSystem Inc. (FIBK) stock would likely to be making an EPS of $0.85 in the current quarter, while forecast for next quarter EPS is $0.86 and it is $3.71 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.81 which is $0.94 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.36 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -37.10% while it is estimated to increase by 5.51% in next year. EPS is likely to grow at an annualized rate of 8.00% for next 5-years, compared to annual growth of -0.50% made by the stock over the past 5-years.
Analysts at 7 brokerage firms have issued recommendations for the First Interstate BancSystem Inc. (FIBK)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.30. Out of those 7 Wall Street analysts, 3 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by UBS on March 15, 2023 offering a Neutral rating for the stock and assigned a target price of $33 to it. Coverage by Stephens stated First Interstate BancSystem Inc. (FIBK) stock as an Overweight in their note to investors on February 01, 2023, suggesting a price target of $43 for the stock. On January 30, 2023, Keefe Bruyette Downgrade their recommendations, while on May 03, 2022, Janney Upgrade their ratings for the stock with a price target of $42. Stock get an Outperform rating from Keefe Bruyette on May 02, 2022.
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