Jennison Associates LLC Sells 272,789 Shares of First Interstate BancSystem, Inc. $FIBK

Key Points

• Jennison Associates sold 272,789 shares (a 16.7% reduction), leaving 1,356,333 shares—about 1.32% of First Interstate BancSystem valued at roughly $46.93 million at quarter-end.
• First Interstate reported Q1 EPS of $0.61, slightly above the $0.60 consensus, but revenue was about $41.1M—well below some estimates near $243M—and EPS fell sequentially from $1.08 in Q4 to $0.61.
• The board declared a $0.47 quarterly dividend (ex-dividend May 11), implying a ~5.3% yield; institutional ownership is ~88.7% and analysts' consensus rating is a Hold with a $38 target.

Jennison Associates LLC decreased its position in First Interstate BancSystem, Inc. (NASDAQ:FIBK - Free Report) by 16.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,356,333 shares of the financial services provider's stock after selling 272,789 shares during the period. Jennison Associates LLC owned approximately 1.32% of First Interstate BancSystem worth $46,929,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. State of New Jersey Common Pension Fund D grew its holdings in First Interstate BancSystem by 1.6% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 71,943 shares of the financial services provider's stock worth $2,489,000 after acquiring an additional 1,112 shares during the period. Keybank National Association OH lifted its stake in shares of First Interstate BancSystem by 13.6% in the 4th quarter. Keybank National Association OH now owns 13,849 shares of the financial services provider's stock valued at $479,000 after purchasing an additional 1,660 shares during the period. Torren Management LLC bought a new stake in shares of First Interstate BancSystem during the 4th quarter valued at about $61,000. Comerica Bank boosted its position in shares of First Interstate BancSystem by 113.9% during the 4th quarter. Comerica Bank now owns 36,716 shares of the financial services provider's stock valued at $1,270,000 after purchasing an additional 19,548 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC grew its stake in First Interstate BancSystem by 0.7% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 79,321 shares of the financial services provider's stock worth $2,745,000 after purchasing an additional 530 shares during the period. Institutional investors own 88.71% of the company's stock.

First Interstate BancSystem Stock Performance

Shares of First Interstate BancSystem stock opened at $35.49 on Friday. The business has a 50-day simple moving average of $34.19 and a 200 day simple moving average of $34.41. First Interstate BancSystem, Inc. has a one year low of $25.81 and a one year high of $39.26. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 11.56 and a beta of 0.77.

First Interstate BancSystem (NASDAQ:FIBK - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. The firm had revenue of $41.10 million during the quarter, compared to analysts' expectations of $242.78 million. First Interstate BancSystem had a return on equity of 9.07% and a net margin of 21.40%.During the same quarter last year, the firm posted $0.49 earnings per share. On average, research analysts anticipate that First Interstate BancSystem, Inc. will post 2.71 earnings per share for the current fiscal year.

First Interstate BancSystem Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Monday, May 11th will be given a $0.47 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a $1.88 annualized dividend and a yield of 5.3%. First Interstate BancSystem's dividend payout ratio (DPR) is presently 61.24%.

Key First Interstate BancSystem News

Here are the key news stories impacting First Interstate BancSystem this week:

• Positive Sentiment: Q1 EPS slightly topped expectations — $0.61 vs. the $0.60 consensus, showing year-over-year improvement from $0.49 and beating estimates. First Interstate BancSystem (FIBK) Q1 Earnings Surpass Estimates
• Positive Sentiment: Board declared a quarterly dividend of $0.47/share (ex-dividend May 11), implying a roughly 5.3% yield — attractive to income-focused investors and likely supporting the stock.
• Neutral Sentiment: The company released its Q1 press release, slide deck and conference-call materials for deeper detail on NII, margin drivers and credit trends; these materials may guide near-term sentiment. Q1 Press Release / Slide Deck
• Neutral Sentiment: Analyst write-ups (Zacks, MarketBeat) break down key metrics (net interest margin, ROE, net margin) and provide context for the modest EPS beat versus broader revenue and trend data. Compared to Estimates, First Interstate BancSystem (FIBK) Q1 Earnings: A Look at Key Metrics
• Negative Sentiment: Revenue came in well below Street expectations (reported ~$41.1M vs. consensus near ~$243M in some reports), a large top-line miss that raises questions about fee income or accounting variances and pressures valuation. First Interstate BancSystem NASDAQ: FIBK misses Q1 CY2026 sales expectations
• Negative Sentiment: On a sequential basis, Q1 EPS declined from $1.08 in Q4 2025 to $0.61 in Q1 2026, signaling quarter-to-quarter pressure on earnings power that investors should monitor. First Interstate BancSystem, Inc. Reports First Quarter Earnings

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FIBK. Piper Sandler lowered their target price on First Interstate BancSystem from $44.00 to $41.00 and set an "overweight" rating for the company in a report on Thursday, April 2nd. Weiss Ratings upgraded First Interstate BancSystem from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, April 2nd. Stephens lowered shares of First Interstate BancSystem from an "overweight" rating to an "equal weight" rating in a research note on Thursday, February 5th. Wells Fargo & Company boosted their target price on shares of First Interstate BancSystem from $30.00 to $36.00 and gave the company an "underweight" rating in a research report on Monday, March 30th. Finally, Wall Street Zen lowered shares of First Interstate BancSystem from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, First Interstate BancSystem currently has an average rating of "Hold" and a consensus target price of $38.00.

First Interstate BancSystem Profile

First Interstate BancSystem, Inc is a bank holding company headquartered in Billings, Montana. Through its principal subsidiary, First Interstate Bank, the company provides a full range of commercial and consumer banking services. Its offerings include business lending, commercial real estate financing, agricultural loans, residential mortgage products, and deposit accounts suitable for individuals, small businesses, and large corporations.

The company traces its roots back to the late 1960s and has grown through a combination of organic expansion and strategic acquisitions across the Western United States.

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