FIRST INTERSTATE BANCSYSTEM INC
At today's price, FIRST INTERSTATE BANCSYSTEM INC (FIBK) is priced for 10.7% return on equity. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
The market is pricing First Interstate as a recovery story. The fundamentals are more modest than the price implies. Return on equity sits right at the 9.3% cost of capital, the breakeven line, so the bank is earning its cost of capital and not much more. Q1 2026 was a small miss: EPS of $0.61 against a $0.63 estimate, softer revenue, a $0.47 dividend, and $84 million of buybacks. The capital return is generous, but it rests on a high payout and a margin recovery that has to keep going.
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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: 2026-07-16 (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); 2026-05-13 (items 5.02, 9.01); 2026-04-29 (items 2.02, 7.01, 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 27, 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.