First Interstate BancSystem (FIBK): Undervalued or Overvalued?

First Interstate BancSystem's shares have edged up modestly over the past week, with a 10.5% 7-day return. Analysts believe the company is undervalued, citing higher growth confidence, strong capital and liquidity levels, and multiple options for value creation. However, persistent declines in loan balances and rising asset quality pressures could challenge the case for long-term growth. The stock trades at 13.9 times earnings, slightly higher than its peer group.