First Interstate price target lowered to $32 from $35 at Stephens

Stephens lowered the firm’s price target on First Interstate to $32 from $35 and keeps an Overweight rating on the shares. The firm, which is revising its earnings forecasts lower on a higher IB beta and lower NIB forecast, believes loss content is manageable and thinks the dividend remains safe with an “attractive” 7.9% yield.