Financial Institutions (NASDAQ:FISI) Issues Earnings Results, Beats Expectations By $0.08 EPS

Financial Institutions (NASDAQ:FISI) posted its quarterly earnings data on Thursday. The bank reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08, Zacks reports. Financial Institutions had a net margin of 13.95% and a return on equity of 12.06%. The company had revenue of $50.12 million for the quarter. During the same period last year, the company earned $0.88 earnings per share.

Financial Institutions Trading Down 3.9 %

FISI stock traded down $0.97 during mid-day trading on Friday, reaching $24.01. The company had a trading volume of 34,371 shares, compared to its average volume of 28,558. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $370.95 million, a PE ratio of 7.46 and a beta of 0.89. The firm has a 50 day moving average of $25.30 and a 200 day moving average of $21.56. Financial Institutions has a 12 month low of $15.51 and a 12 month high of $27.75.

Financial Institutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Friday, September 13th were paid a $0.30 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.20 dividend on an annualized basis and a yield of 5.00%. Financial Institutions’s dividend payout ratio is currently 37.27%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FISI shares. StockNews.com lowered shares of Financial Institutions from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $25.00 price objective (up from $20.00) on shares of Financial Institutions in a research report on Monday, July 29th.

Financial Institutions Company Profile

Financial Institutions, Inc operates as a holding company for the Five Star Bank, a chartered bank that provides banking and financial services to individuals, municipalities, and businesses in New York. The company provides checking and savings account programs, including money market accounts, certificates of deposit, sweep investments, and individual retirement and other qualified plan accounts, as well as NOW accounts.