First Interstate Bancsystem (FIBK)
NASDAQ:FIBK
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First Interstate Bancsystem
(NASDAQ:FIBK)
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Rating:70Outperform
Price Target:
$38.00
▲(9.76% Upside)
Action:Reiterated
Date:06/02/26
Overall score reflects financially sound fundamentals (profitability and improved leverage) and attractive valuation (low P/E and high yield), partially offset by slowing recent growth/cash-flow trends and a mixed near-term outlook from the earnings call. Technical signals are neutral and do not materially lift the score.
Positive Factors
Strong Capital and Liquidity
First Interstate's CET1 of 14.30% and a 9.56% leverage ratio provide durable loss-absorption and strategic optionality. Elevated capital allows continued dividends, buybacks and measured lending while reducing tail-risk from cyclical stress, supporting balance-sheet resilience over the next 2–6 months.
Negative Factors
Weakened Revenue & Cashflow Momentum
Trailing-twelve-month declines in revenue and free cash flow signal weakening operational momentum. Persisting contraction in top-line and cash generation can constrain reinvestment, capital returns and the buffer against credit or rate shocks unless growth stabilizes in coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Capital and Liquidity
First Interstate's CET1 of 14.30% and a 9.56% leverage ratio provide durable loss-absorption and strategic optionality. Elevated capital allows continued dividends, buybacks and measured lending while reducing tail-risk from cyclical stress, supporting balance-sheet resilience over the next 2–6 months.
Read all positive factors
First Interstate Bancsystem (FIBK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.47B
Dividend Yield5.24%
Average Volume (3M)1.24M
Price to Earnings (P/E)11.3
Beta (1Y)0.97
Revenue Growth-5.29%
EPS Growth45.44%
CountryUS
Employees3,481
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)3.07
Shares Outstanding97,142,876
10 Day Avg. Volume1,190,706
30 Day Avg. Volume1,236,729
Financial Highlights & Ratios
PEG Ratio0.34
Price to Book (P/B)1.03
Price to Sales (P/S)3.35
P/FCF Ratio12.78
Enterprise Value/Market Cap1.13
Enterprise Value/Revenue3.18
Enterprise Value/Gross Profit3.75
Enterprise Value/Ebitda9.12
Forecast
1Y Price Target
$37.00Price Target Upside6.87% Upside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)2.64
Revenue Forecast (FY)$996.10M
First Interstate Bancsystem Business Overview & Revenue Model
Company Description
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, savi...
How the Company Makes Money
FIBK primarily makes money through traditional banking activities conducted by its subsidiary bank. The largest driver is typically net interest income: the bank earns interest and fees on interest-earning assets (such as commercial loans, consume...
First Interstate Bancsystem Earnings Call Summary
Earnings Call Date:Apr 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 28, 2026
Earnings Call Sentiment Neutral
The call mixed solid strategic and operating progress (completed banking redesign, sustained margin expansion, expense discipline, active buybacks, improved credit trends and strong capital ratios) against near-term financial headwinds (a large QoQ drop in net income, a sizable decline in noninterest income due to prior-quarter gains, and sequential declines in loans and deposits driven by seasonality and branch sales). Management emphasized momentum in pipeline and margin tailwinds from asset repricing but remained cautious on loan balances in Q2. Overall, positives and negatives are balanced.Positive Updates
Completed Banking Redesign and Increased Sales Production
Completed transition to a flatter, streamlined banking organization in Q1; expanded teams in key markets (notably Colorado). Management reports the best pipeline activity seen in 18 months and increased production entering Q2 driven by more bankers in production roles and a focus on full-relationship banking.
Negative Updates
Significant Quarter‑over‑Quarter Net Income Decline
Net income fell to $60.2 million ($0.61 per diluted share) in Q1 from $108.8 million ($1.08 per diluted share) in Q4 — a decline of approximately 44.7% QoQ, largely reflecting one-time items and seasonal impacts in the prior quarter.
Read all updates
Q1-2026 Updates
Positive
Negative
Completed Banking Redesign and Increased Sales Production
Completed transition to a flatter, streamlined banking organization in Q1; expanded teams in key markets (notably Colorado). Management reports the best pipeline activity seen in 18 months and increased production entering Q2 driven by more bankers in production roles and a focus on full-relationship banking.
Read all positive updates
Company Guidance
The company said its forward guidance is largely unchanged from last quarter — ranges for net interest income, noninterest income and noninterest expense show little movement — and continues to include the post-quarter sale of 11 Nebraska branches (about $244 million of sold deposits) while excluding an anticipated gain on sale of roughly $19 million; management expects Q2 loan balances to decline with stabilization and modest growth in the back half of 2026, implies average earning assets roughly $24.0–$24.5 billion for the year, foresees sequential net interest margin expansion each quarter in 2026 into 2027 (consistent with a roughly 3–5 bps per quarter cadence), and expects a multi‑quarter benefit from earning‑asset repricing as about $2.6 billion of fixed and adjustable‑rate loans (weighted average yield ~4.5%) and roughly $2.0 billion of securities cash flows (weighted average yield ~2.7%) reprice or mature through 2027 while continuing to target short‑ to mid‑duration purchases.First Interstate Bancsystem Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
76
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.23B | 1.06B | 1.48B | 1.43B | 1.18B | 656.00M |
| Gross Profit | 1.04B | 1.03B | 931.90M | 993.60M | 1.02B | 653.30M |
| EBITDA | 428.60M | 391.70M | 351.50M | 390.60M | 312.60M | 292.20M |
| Net Income | 312.10M | 302.10M | 226.00M | 257.50M | 202.20M | 192.10M |
Balance Sheet | ||||||
| Total Assets | 26.43B | 26.64B | 29.14B | 30.67B | 32.29B | 19.67B |
| Cash, Cash Equivalents and Short-Term Investments | 321.70M | 358.20M | 960.40M | 6.42B | 7.82B | 7.17B |
| Total Debt | 772.70M | 775.70M | 2.39B | 3.67B | 3.66B | 1.25B |
| Total Liabilities | 23.07B | 23.19B | 25.83B | 27.44B | 29.21B | 17.69B |
| Stockholders Equity | 3.36B | 3.45B | 3.30B | 3.23B | 3.07B | 1.99B |
Cash Flow | ||||||
| Free Cash Flow | 253.30M | 277.80M | 332.00M | 399.80M | 523.90M | 272.00M |
| Operating Cash Flow | 282.10M | 305.60M | 355.00M | 428.00M | 534.40M | 282.30M |
| Investing Cash Flow | 1.66B | 2.31B | 1.76B | 1.25B | -949.00M | -2.12B |
| Financing Cash Flow | -1.61B | -2.20B | -1.80B | -1.97B | -1.06B | 1.91B |
First Interstate Bancsystem Technical Analysis
Positive
34.62
Price Trends
34.42
Positive
34.81
Positive
33.32
Positive
Market Momentum
0.22
Positive
54.65
Neutral
50.18
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FIBK, the sentiment is Positive. The current price of 34.62 is below the 20-day moving average (MA) of 35.07, above the 50-day MA of 34.42, and above the 200-day MA of 33.32, indicating a bullish trend. The MACD of 0.22 indicates Positive momentum. The RSI at 54.65 is Neutral, neither overbought nor oversold. The STOCH value of 50.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FIBK.
First Interstate Bancsystem Risk Analysis
First Interstate Bancsystem disclosed 43 risk factors in its most recent earnings report. First Interstate Bancsystem reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
First Interstate Bancsystem Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $3.31B | 11.76 | 10.39% | 3.96% | 0.76% | 24.52% | |
79 Outperform | $3.70B | 12.35 | 11.34% | 1.16% | -2.18% | 26.43% | |
74 Outperform | $3.33B | 10.30 | 8.00% | 4.35% | 49.44% | 102.42% | |
71 Outperform | $3.80B | 16.19 | 7.01% | 3.05% | 27.40% | 13.49% | |
70 Outperform | $3.47B | 11.27 | 9.13% | 5.24% | -5.29% | 45.44% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $4.64B | 11.88 | 9.21% | 2.72% | 62.22% | ― |
* Financial Sector Average
FIBK
First Interstate Bancsystem
35.57
9.20
34.87%
INDB
Independent Bank
79.57
17.85
28.93%
WSBC
WesBanco
34.39
4.89
16.58%
WSFS
Wsfs Financial
71.77
19.31
36.80%
FHB
First Hawaiian
27.35
4.19
18.11%
EBC
Eastern Bankshares
19.85
5.35
36.85%
First Interstate Bancsystem Corporate Events
Executive/Board ChangesShareholder Meetings
Board Changes and Shareholder Approvals at First Interstate
Neutral
May 29, 2026
On May 27, 2026, First Interstate BancSystem, Inc. implemented its director retirement policy, resulting in the automatic retirement and resignation of directors Patricia L. Moss, David L. Jahnke, and Stephen M. Lacy upon each reaching the age of ...
Business Operations and StrategyExecutive/Board Changes
First Interstate BancSystem Reassigns COO to Advisory Role
Negative
May 13, 2026
On May 11, 2026, First Interstate BancSystem, Inc. terminated, without cause, the employment of Kristina Robbins as Executive Vice President and Chief Operations Officer and simultaneously moved her into a temporary role as Executive Advisor to Ch...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
First Interstate BancSystem Announces Q1 2026 Results, Capital Actions
Positive
Apr 29, 2026
First Interstate BancSystem, Inc. reported first-quarter 2026 net income of $60.2 million, or $0.61 per diluted share, down from $108.8 million in the fourth quarter of 2025 but up from $50.2 million a year earlier, supported by an improved net in...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.