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KBW has issued a report lowering estimates on First Interstate BanSystem
FIBK.
According to the report, “We are lowering our estimates on First Interstate to account for weaker mortgage banking revenues & lower earning assets. We believe operating results will improve more meaningfully in 2H11 as reserve release begins to emerge assuming NPAs can still peak by mid-year.”
FIBK is rated Market Perform and has a $14 Price Target.
FIBK closed yesterday at $13.53 a share.
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