FIRST INTERSTATE BANCSYSTEM, INC.
In the published model solve dated 2026-Q2, anchored at $37.04, FIRST INTERSTATE BANCSYSTEM, INC. (FIBK) is priced for 10.2% return on equity. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 26, 2026 from SEC EDGAR filings.
• The capital ratio rose last quarter even while the bank retired 1.93 million of its own shares, which is what happens when a lender shrinks its balance sheet faster than it spends its capital [Source: second-quarter 2026 earnings release, July 23, 2026]. • Not all of the improvement is operating: a 19.5 million dollar gain on the sale of eleven Nebraska branches sits inside the June quarter's profit, and total deposits are 5.3% smaller than a year earlier [Source: second-quarter 2026 earnings
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276 institutional managers reported holding FIBK in 13F filings for the quarter ended 2026-03-31. Together they hold about 91% of the company; the top 10 hold 56%. 39 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 8.3M shares were sold short as of the 2026-06-15 count, about 8% of shares outstanding (9.9 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
FIBK's share count grew 60.4% over the past five years even with $443.80M spent on repurchases. It pays a dividend, and has paid one every year in our records (16 and counting); the current rate is $1.88 a share annually. Cash returned over the past three years: $533.80M in dividends and $243.00M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at FIBK over the trailing three years: 2024: 8 buys totaling $348k. 23 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
FIBK's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-05 | +3.4% | -15.9% |
| 2023-11-04 | +8.8% | +21.7% |
| 2024-03-01 | -6.5% | +6.1% |
| 2024-05-04 | +1.6% | -1.8% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
FIBK's latest 8-K filings: 2026-08-21 (items 5.02, 9.01); 2026-07-23 (items 2.02, 7.01, 8.01, 9.01); 2026-07-16 (items 5.02, 9.01); 2026-07-09 (items 5.02, 9.01); 2026-05-29 (items 5.02, 5.03, 5.07, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 26, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.