First Interstate Bancsystems (FIBK) PT Raised to $38 at Stephens

Stephens analyst Andrew Terell raised the price target on First Interstate Bancsystems (NASDAQ: FIBK) to $38.00 (from $37.00) while maintaining a Equal Weight rating.

The analyst commented: "FIBK 3Q included Op. EPS of $0.65 vs. our and Street’s $0.68 with PPNR of $93.4 mil. coming in +4.2% to us and +4.1% to Street on slightly better NII, fees, and expenses. Loan balance compression slowed (-8.2% LQA) with commentary relatively constructive around increasing production with a return to growth potentially possible in 2027. Deposits contracted modestly (-0.5% LQA core), although guidance suggests improvement into year-end at the midpoint. Fixed asset repricing remains a notable tailwind to the NIM at FIBK, likely improving as a result of the recent lift in rates, while buybacks likely remain an integral component to earnings growth moving forward. We update our ‘27E Op. EPS to $2.99 (from $2.66) post the quarter, on a better NIM/buybacks. We view valuation as somewhat full at 1.77x of TBV given our ~1.03% ROAA outlook in ‘27E and remain EW-rated. PT moves to $38 (from $37)."

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