Piper Sandler lowered the firm’s price target on First Interstate (FIBK) to $41 from $42 and keeps an Overweight rating on the shares. While inflows into criticized remain an overhang, these were all legacy GWB credits and the firm is encouraged by a third party review that confirmed First Interstate’s risk ratings. Piper also believes new CEO Reuter’s focus on relationships should drive stronger organic growth, more consistent results, and multiple expansion long-term.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FIBK:
- First Interstate price target raised to $30 from $29 at Wells Fargo
- First Interstate Bancsystem Balances Growth and Challenges
- First Interstate price target lowered to $38 from $39 at Stephens
- First Interstate BancSystem Reports Q4 Earnings
- First Interstate Bancsystem Reports Q4 Income Drop, New CEO