First Interstate Bancsystem (FIBK)
NASDAQ:FIBK
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First Interstate Bancsystem
(NASDAQ:FIBK)
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Rating:68Neutral
Price Target:
$38.00
▲(9.76% Upside)
Action:Downgraded
Date:05/14/26
The score is driven primarily by financially sound statements (improved leverage and solid profitability) but tempered by weakening recent growth/cash-flow momentum. Valuation is a positive contributor (moderate P/E and high dividend yield), while technicals are neutral and earnings-call guidance is constructive on margins/capital returns but includes near-term NII and loan-growth headwinds and some one-time/credit volatility.
Positive Factors
Capital & Leverage Improvement
A materially stronger CET1 and leverage ratio increase regulatory headroom and financial flexibility. Improved capital reduces the need for precautionary actions in stress, supports dividend and buyback capacity, and strengthens the bank's ability to absorb credit volatility over coming quarters.
Negative Factors
Loan & Revenue Growth Weakness
Material loan runoff, intentional branch sales and flat-to-declining loan balances reduce the stock of earning assets, constraining net interest income growth. Persistent headwinds to loan and revenue growth limit the bank's ability to scale core earnings and will pressure top-line recovery over multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Capital & Leverage Improvement
A materially stronger CET1 and leverage ratio increase regulatory headroom and financial flexibility. Improved capital reduces the need for precautionary actions in stress, supports dividend and buyback capacity, and strengthens the bank's ability to absorb credit volatility over coming quarters.
Read all positive factors
First Interstate Bancsystem (FIBK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.45B
Dividend Yield5.24%
Average Volume (3M)1.24M
Price to Earnings (P/E)13.7
Beta (1Y)0.99
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/Revenue3.17
Enterprise Value/Gross Profit3.74
Enterprise Value/Ebitda9.10
Forecast
1Y Price Target
$36.60Price Target Upside5.72% Upside
Rating ConsensusHold
Number of Analyst Covering5
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:Jan 28, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 28, 2026
Earnings Call Sentiment Neutral
The call highlighted tangible progress on capital return, regulatory capital improvement, balance sheet flexibility and sequential net interest margin expansion, along with meaningful credit quality improvements in the quarter. However, several operational headwinds and near-term pressures remain: loan balances and deposits declined due to strategic branch divestitures and intentional run-off, Q4 earnings were materially supported by a one-time gain on sale, there was a Q4 spike in net charge-offs driven by a single large credit, and loan production was lower than expected in 2025. Management provided constructive guidance for NIM expansion and controlled expenses but acknowledged near-term seasonality that will pressure Q1 NII and expects loans roughly flat to slightly lower in 2026 (excluding indirect run-off). Overall, positive structural actions and capital returns are balanced by execution and recurring-earnings headwinds and some one-time items.Positive Updates
Strong Q4 Net Income and EPS
Net income of $108.8M in Q4 2025, or $1.08 per diluted share, up from $71.4M or $0.69 in Q3 2025; increase driven largely by a gain on sale related to Arizona and Kansas divestiture.
Negative Updates
Loan Balances Declined Materially
Loans decreased $632.8M in Q4 2025 (including $72.5M moved to held for sale and $62.8M indirect amortization); year-over-year production was lower than expected and total loans down for 2025 due to intentional run-off and disposals.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Q4 Net Income and EPS
Net income of $108.8M in Q4 2025, or $1.08 per diluted share, up from $71.4M or $0.69 in Q3 2025; increase driven largely by a gain on sale related to Arizona and Kansas divestiture.
Read all positive updates
Company Guidance
For 2026 management guided to low single‑digit deposit growth with normal seasonality and total loans roughly flat to slightly lower (excluding an additional 1–2% decline from continued indirect portfolio runoff), with loans expected to decline in H1 and modestly grow in H2; Q1 reported net interest income is modeled about 3% below Q4 2025. They expect sequential net interest margin expansion from the Q4 adjusted FTE NIM of 3.34% toward “north of 3.50%” by year‑end (roughly +~5 bps per quarter), supported by reinvestment of lower‑yielding securities (new securities pricing roughly 5‑year +60–70 bps) and new loan production in the low‑to‑mid‑6% range; fee income is assumed to show modest year‑over‑year growth. Expense guidance is roughly flat to slightly lower versus FY2025 (implying about $630–$645M annually or ~ $159–$160M per quarter) but the plan assumes ~1% higher costs from medical insurance normalization plus reinvestment for relationship managers, branch openings/relocations and increased advertising; guidance reflects the sale/closure of 17 branches (11 sold, 6 closed), excludes the anticipated Nebraska gain, notes ND/MN deposits of ≈$30M, and the company raised share‑repurchase capacity to $300M with roughly $180M remaining.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
33.90
Positive
34.81
Positive
33.01
Positive
Market Momentum
0.22
Positive
58.47
Neutral
69.82
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 34.93, above the 50-day MA of 33.90, and above the 200-day MA of 33.01, indicating a bullish trend. The MACD of 0.22 indicates Positive momentum. The RSI at 58.47 is Neutral, neither overbought nor oversold. The STOCH value of 69.82 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 | $3.33B | 11.13 | 10.39% | 3.96% | 0.76% | 24.52% | |
79 Outperform | $3.73B | 10.00 | 11.34% | 1.16% | -2.18% | 26.43% | |
74 Outperform | $3.32B | 9.35 | 8.00% | 4.35% | 49.44% | 102.42% | |
71 Outperform | $3.80B | 11.52 | 7.01% | 3.05% | 27.40% | 13.49% | |
68 Neutral | $3.45B | 13.72 | 9.13% | 5.24% | -5.29% | 45.44% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $4.59B | 16.64 | 9.21% | 2.72% | 62.22% | ― |
* Financial Sector Average
FIBK
First Interstate Bancsystem
35.49
10.33
41.04%
INDB
Independent Bank
78.82
20.08
34.19%
WSBC
WesBanco
34.56
5.53
19.04%
WSFS
Wsfs Financial
71.69
19.54
37.48%
FHB
First Hawaiian
27.35
4.88
21.71%
EBC
Eastern Bankshares
19.85
5.51
38.42%
First Interstate Bancsystem Corporate Events
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.