Financial Institutions (NASDAQ:FISI) Releases Quarterly Earnings Results, Misses Estimates By $0.20 EPS

Financial Institutions (NASDAQ:FISI) announced its quarterly earnings data on Thursday. The bank reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.20), Zacks reports. Financial Institutions had a net margin of 13.72% and a return on equity of 11.32%.

Financial Institutions Stock Down 0.1 %

Financial Institutions stock traded down $0.03 during midday trading on Thursday, hitting $27.16. The stock had a trading volume of 120,748 shares, compared to its average volume of 130,954. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average price of $27.10 and a 200 day moving average price of $25.74. Financial Institutions has a 12 month low of $16.29 and a 12 month high of $29.34. The stock has a market cap of $420.17 million, a P/E ratio of 8.54 and a beta of 0.91.

Financial Institutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were given a dividend of $0.30 per share. The ex-dividend date was Friday, December 13th. This represents a $1.20 annualized dividend and a dividend yield of 4.42%. Financial Institutions’s payout ratio is 37.74%.

Wall Street Analysts Forecast Growth

FISI has been the topic of several research reports. StockNews.com lowered Financial Institutions from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods increased their target price on Financial Institutions from $27.00 to $28.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler initiated coverage on shares of Financial Institutions in a research report on Friday, December 20th. They set an “overweight” rating and a $33.00 target price on the stock.

Insider Transactions at Financial Institutions

In other Financial Institutions news, Director Robert N. Latella acquired 4,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $100,000.00. Following the completion of the purchase, the director now directly owns 16,000 shares in the company, valued at $400,000. The trade was a 33.33 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.68% of the company’s stock.

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.