First Interstate price target lowered to $32 from $35 at Piper Sandler

Piper Sandler lowered the firm’s price target on First Interstate to $32 from $35 and keeps an Overweight rating on the shares following quarterly results. The firm is “encouraged” by the stable core net interest margin and likely expansion that it thinks should unfold in Q1 2024 as a significant amount of securities cash flows help to pay down higher cost borrowings.