First Interstate BancSystem, Inc. (FIBK) — Fundamental Analysis & Key Financial Ratios

Kaplio overview: First Interstate BancSystem, Inc.

Market cap $4B · 52 weeks $30 – $40 (5 % below the high) · P/E 11.7× · 2027 expected P/E 13.0× · Dividend 5.0 % · Next earnings January 27, 2027 · expected EPS $0.70 · Closing price, Oct 30 · accounts published Oct 22.

• Valuation: P/B 1.1× (justified).
• Business: ROTCE 13.2 % (passes, near the threshold).
• Balance sheet: Capital/assets 12.9 % (solid).
• Earnings: 6 of 8 (on track).

What would it be worth at its usual multiples?

At a P/B justified by its ROTCE 13.2 % (1.3×) $43 (+15 %); at its peers' median (0.9×) $32 (-16 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.

What matters in banking: 5 of 5 pass

• ROA 1.2 %, passes.
• ROTCE 13.2 %, passes, near the threshold.
• Equity / Assets (Tier 1 proxy) 12.9 %, passes.
• P/B (Price / Book) 1.1×, passes.
• Sustainable dividend yield 5.0 %, passes.

Against its peers (reference peers) — First Interstate BancSystem, Inc.: P/E 11.7×; P/B 1.1×; ROE 9.5 %; $3.6B. Renasant Corporation (P/E 11.2×; P/B 0.9×; ROE 8.6 %; $3.6B), WesBanco, Inc. (P/E 10.8×; P/B 0.9×; ROE 8.9 %; $3.7B), First Financial Bancorp. (P/E 11.3×; P/B 1.2×; ROE 10.2 %; $3.4B).

Expensive or cheap against its last ten fiscal years?

P/B at each close: today 1.1× · median 1.2× · minimum 0.7× · maximum 2.1× · cheap below 1.0× · expensive above 1.5×. It has been cheaper than today only 43% of the time over its last ten fiscal years.

Dividend

tight (only raised recently) · Yield 5.0 % ($1.89 per share in 2025) · 5-year growth -1 % a year · Free cash flow coverage payout 64 % · With $1,000 invested today you'd collect $49.90 a year ($4.16 a month).