• On February 11, 2026, First Interstate BancSystem, Inc. presented at the KBW 2026 Winter Financial Services Conference at The Boca Raton in Florida, highlighting its current positioning to the financial services investment community.
• Despite concerns about modest longer-term revenue trends and profitability metrics, the bank has recently benefited from upward earnings estimate revisions and favorable analyst rankings that point to strong near-term momentum.
• Building on this, we’ll explore how the upbeat earnings estimate revisions and analyst sentiment could reshape First Interstate BancSystem’s investment narrative.

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First Interstate BancSystem Investment Narrative Recap

To be comfortable owning First Interstate BancSystem today, you need to believe in its core story of slower but steadier growth backed by a large, low cost deposit base in faster growing regional markets, while accepting concerns around modest long term revenue trends and profitability. The KBW Winter Financial Services Conference appearance and recent earnings estimate upgrades reinforce the key short term catalyst of improving sentiment, but do not materially change the central risk around pressured net interest income and efficiency.

The most relevant recent development alongside the conference is the series of upward earnings estimate revisions, which helped the stock earn a favorable Zacks Rank #2 and an A Momentum Score. This shift matters because it contrasts with prior expectations for stalled net interest income and a weaker efficiency ratio, potentially reframing how investors weigh the near term upside from improved earnings trends against longer term concerns about loan growth and asset quality pressures.

Yet beneath the improving estimates, investors should still pay close attention to rising criticized loans and what that could mean for future credit costs...

First Interstate BancSystem's narrative projects $1.1 billion revenue and $686.4 million earnings by 2028. This requires 6.8% yearly revenue growth and an earnings increase of about $456.9 million from $229.5 million today.

Uncover how First Interstate BancSystem's forecasts yield a $38.00 fair value, in line with its current price.

Exploring Other Perspectives

While recent momentum has improved the tone around First Interstate, the most pessimistic analysts were previously assuming only about US$1.1 billion in future revenue and roughly US$317.2 million in earnings, so their concerns about slower growth and credit risk may look very different once this latest conference update is fully reflected in expectations.

Explore 10 other fair value estimates on First Interstate BancSystem - why the stock might be worth 28% less than the current price!

Build Your Own First Interstate BancSystem Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your First Interstate BancSystem research is our analysis highlighting 4 key rewards and 1 important warning sign that could impact your investment decision.
• Our free First Interstate BancSystem research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate First Interstate BancSystem's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.