First Interstate BancSystem Is Getting Closer To An Upgrade

2026-04-27 13:16:45 ET

Back in late November of last year, I wrote an article wherein I expressed my view that First Interstate BancSystem ( FIBK ) had been successful in showing improvement when it came to profitability and asset quality. Before that point, I had actually been bearish on the company, rating it a "Sell." And sure enough, during that time, the stock had underperformed the market, rising only 23.8% while the S&P 500 was up 29.4%. Since upgrading it, we have seen continued underperformance, but only by a small amount. Shares are up 4.1%, while the S&P 500 is up 6.2%. Given the time that has passed, I figured it would be a wise idea to dig in once again and see what is going on. What I found is an institution with high asset quality. Financial performance is improving nicely. But for now, I think that sticking with a "Hold" rating is the right choice....

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