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FIBK First Interstate BancSystem

First Interstate BancSystem, Inc. is a financial holding company, which engages in the provision of community banking solutions. The company offers commercial and consumer banking services to individuals, businesses, municipalities, and other entities. It also provides internet, mobile, and other banking and financial services. The company was founded by Homer Scott Sr. in 1968 and is headquartered in Billings, MT.

Company profile

Ticker
FIBK
Exchange
Website
CEO
Kevin Riley
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
FIRST INTERSTATE BANCSYSTEM OF MONTANA INC
SEC CIK
IRS number
810331430

FIBK stock data

(
)

Investment data

Data from SEC filings
Top 50 of 104 long holdings
End of quarter 31 Mar 21
Value
 
#Shares
 
$139.22M 1.5M
$96.46M 242.46K
$79.38M 962.14K
$66.7M 1.74M
$54.29M 500.23K
$49.14M 188.79K
$27.24M 250.19K
$24.63M 210.97K
$19.67M 148.08K
$14.1M 143.21K
$13.03M 55.28K
$11.69M 3.78K
$11.64M 341.74K
$11.29M 92.43K
$9.63M 50.62K
$9.51M 129.67K
$8.36M 45.75K
$8.29M 169.03K
$7.49M 3.63K
$7.29M 54.84K
$6.12M 77.71K
$5.86M 22.95K
$5.81M 31.46K
$5.77M 111.53K
$5.64M 41.52K
$5.62M 82.22K
$5.42M 137.27K
$5.22M 13.18K
$5.07M 13.61K
$4.73M 80.76K
$4.7M 27.98K
$4.65M 30.52K
$4.6M 86.23K
$4.6M 25.07K
$4.47M 20.29K
$4.43M 96.22K
$4.23M 14.9K
$4.23M 78.09K
$4.17M 66.09K
$3.95M 13.4K
$3.93M 51.74K
$3.87M 17.24K
$3.83M 27.07K
$3.72M 51.18K
$3.7M 11.31K
$3.43M 16.19K
$3.35M 15.43K
$3.18M 22.46K
$2.95M 24.66K
$2.8M 7.93K
Holdings list only includes long positions. Only includes long positions.

Calendar

7 May 21
21 Jun 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 2.2B 2.2B 2.2B 2.2B 2.2B 2.2B
Cash burn (monthly) 26.93M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 72.64M n/a n/a n/a n/a n/a
Cash remaining 2.12B n/a n/a n/a n/a n/a
Runway (months of cash) 78.8 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jun 21 Scott Jonathan R Class A Common Stock Grant Aquire A No No 47.07 1,646 77.48K 4,017
1 Jun 21 Biff Bowman Class A Common Stock Grant Aquire A No No 47.07 1,646 77.48K 2,003
1 Jun 21 Scott James R Class A Common Stock Grant Aquire A No No 47.07 2,124 99.98K 11,075
1 Jun 21 Moss Patricia L Class A Common Stock Grant Aquire A No No 47.07 1,168 54.98K 5,125
1 Jun 21 Leckie Ross E. Class A Common Stock Grant Aquire A No No 47.07 2,124 99.98K 4,845

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

75.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 174 177 -1.7%
Opened positions 24 28 -14.3%
Closed positions 27 17 +58.8%
Increased positions 57 60 -5.0%
Reduced positions 59 64 -7.8%
13F shares
Current Prev Q Change
Total value 2.28B 1.28B +78.5%
Total shares 31.55M 35.83M -11.9%
Total puts 0 0
Total calls 44.7K 20.9K +113.9%
Total put/call ratio
Largest owners
Shares Value Change
BLK Blackrock 4.64M $213.68M +46.1%
Vanguard 3.56M $164.02M +1.0%
MCQEF Macquarie 2.59M $119.47M -12.8%
Dimensional Fund Advisors 1.63M $75.19M -3.6%
BK Bank Of New York Mellon 1.6M $73.82M +3.8%
Wellington Management 1.58M $72.7M -20.2%
FMR 1.36M $62.47M -17.9%
SLFPF Standard Life Aberdeen 1.25M $57.36M +7.6%
STT State Street 1.21M $55.9M +17.3%
Schroder Investment Management 802.74K $36.96M +2.1%
Largest transactions
Shares Bought/sold Change
FIBK First Interstate BancSystem 96.22K -4.4M -97.9%
BLK Blackrock 4.64M +1.47M +46.1%
Wellington Management 1.58M -398.84K -20.2%
MCQEF Macquarie 2.59M -380.94K -12.8%
FMR 1.36M -295.45K -17.9%
Philadelphia Financial Management of San Francisco 0 -225.81K EXIT
Ceredex Value Advisors 323.88K -218.6K -40.3%
STT State Street 1.21M +178.74K +17.3%
First Interstate Bank 0 -121.88K EXIT
NTRS Northern Trust 495.29K -99.32K -16.7%

Financial report summary

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Risks
  • New governmental regulations and/or changes in existing governmental regulations could have a material, adverse effect on the Company.
  • Tax legislative initiatives or assessments could adversely affect our results of operations and financial condition.
  • We may be subject to more stringent capital requirements in the future, the impact of which could have a material risk on our operations.
  • Our total assets exceed $10 billion, which subjects us to heightened regulatory requirements that could negatively impact our results of operations.
  • Changes in accounting standards could materially negatively impact our financial statements.
  • Any failure to comply with laws and regulations, including the Community Reinvestment Act (CRA) and fair lending laws, could lead to material penalties.
  • We are subject to the USA PATRIOT Act, OFAC guidelines and requirements, the BSA, and related FinCEN and FFIEC Guidelines and regulations and any failure to comply with them could result in material implications that could harm our business.
  • A decline in economic conditions could reduce demand for our products and services and negatively impact the credit quality of loans, which could have an adverse effect on our results of operations.
  • If we experience loan credit losses in excess of estimated amounts, our earnings could be adversely affected.
  • The soundness of other financial institutions could adversely affect the Company.
  • We may be adversely affected by declining oil and gas prices, and declining demand for coal could negatively impact the demand and credit quality of loans.
  • We are subject to liquidity risks which could impair our cash flows and adversely affect the Company.
  • Loss of deposits or a change in deposit mix could increase the Company’s funding costs and negatively affect the Company’s operations.
  • Changes in interest rates may have an adverse effect on demand for our products and services and on our profitability.
  • Changes to United States trade policies and other factors beyond the Company’s control, including the imposition of tariffs and retaliatory tariffs, may adversely impact our business, financial condition, and results of operations.
  • Many of our loans held for investment and our obligations for borrowed money are priced based on variable interest rates tied to the London Inter-Bank Offered Rate, or LIBOR, which may no longer be available, or may become unreliable, as a result of the United Kingdom’s Financial Conduct Authority ceasing to require the submission of LIBOR quotes as of December 31, 2021.
  • Privacy, information security, and data protection laws, rules, and regulations could affect or limit how we collect and use personal information, increase our costs, and adversely affect our business opportunities.
  • Our goodwill may become impaired, which may adversely impact our results of operations and financial condition.
  • We may invest in Collateralized Loan Obligations (CLO) securities or CLO warehouse financing structures, which may expose us to losses in connection with such investments.
  • The Company relies on other companies to provide certain key components of its business infrastructure.
  • Our reputation is very important to our ability to maintain, attract and retain client relationships and if our reputation were impaired it, could have an adverse effect on the Company.
  • We may not be able to attract and retain qualified employees to operate our business effectively, which could have an adverse effect on our business.
  • We may not effectively implement new technology-driven products and services or be successful in marketing these products and services to our clients, which could negatively impact our business.
  • If we are not able to execute on our intended expansion plans, our business, reputation, and results of operations could be materially, adversely affected.
  • Difficulties in combining the operations of acquired entities or assets with our own operations or assessing the effectiveness of businesses in which we make strategic investments or with which we enter into strategic contractual relationships may prevent us from achieving the expected benefits from these acquisitions, investments, or relationships.
  • We qualify as a “controlled company” under the NASDAQ Marketplace Rules and may rely on exemptions from certain corporate governance requirements.
  • Volatility in the price and volume of our Class A common stock may be unfavorable.
  • “Anti-takeover” provisions and the regulations to which we are subject may also make it more difficult for a third party to acquire control of us, even if the change in control could be deemed beneficial to stockholders.
  • Our dividend policy, or our ability to pay dividends, may change.
  • Future equity issuances could result in dilution, which could cause our common stock price to decline.
  • The common stock is equity and is subordinate to our existing and future indebtedness.
  • The COVID-19 pandemic has caused a significant global disruption which has adversely affected, and is expected to continue to adversely affect, our business and results of operations, and the future impacts of the COVID-19 pandemic and the U.S. Government response to the pandemic on the global economy could adversely affect our business, results of operations, liquidity, and financial condition.
  • Our business is subject to the risks of certain global conditions, earthquakes, tsunamis, floods, fires, and other natural catastrophic events.
Management Discussion
  • Principal tools we use in managing and evaluating our results of operations include tracking performance as measured by certain metrics including return on average equity, return on average assets, efficiency ratio, non-interest expense as a percent of total average assets, earnings per share, total shareholder return, net interest income, non-interest income, non-interest expense, and net income. Net interest income is affected by a number of factors such as the level of interest rates, changes in interest rates, and changes in the volume and composition of interest earning assets and interest-bearing liabilities. Changes in interest rate spread, which is the difference between interest earned on assets and interest paid on liabilities, has the most significant impact on net interest income. Other factors like volume of loans, investment securities, and other interest earning assets, compared to the volume of interest-bearing deposits and indebtedness, also cause changes in our net interest income between periods. Non-interest bearing sources of funds, such as demand deposits and stockholders’ equity, help support earning assets.
Content analysis
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