UPDATE: Keefe, Bruyette & Woods Raises PT to $14 on First Interstate BancSystem; Steps to Improve Bottom Line

Keefe, Bruyette & Woods raises its price target from $12 to $14 on Market Perform-rated First Interstate BancSystem

as the company moves to improve the bottom line. Keefe, Bruyette & Woods comments, "The first quarter for FIBK showed that core profitability was under pressure but better credit helped to offset that. The NCO ratio declined for the first time in four quarters but should reverse in coming quarters. Overall, FIBK is taking positive steps to drive EPS higher but we believe that tepid loan growth will win out in the end." FIBK closed at $14.08 on Monday.