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

Financial Institutions (NASDAQ:FISI) announced its earnings results on Thursday. The bank reported $0.84 earnings per share (EPS) 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 firm had revenue of $50.12 million for the quarter. During the same quarter last year, the business posted $0.88 EPS.

Financial Institutions Stock Performance

NASDAQ FISI traded down $0.97 on Friday, hitting $24.01. The stock had a trading volume of 34,371 shares, compared to its average volume of 28,558. Financial Institutions has a one year low of $15.51 and a one year high of $27.75. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.28. The stock has a market cap of $370.95 million, a price-to-earnings ratio of 7.46 and a beta of 0.89. The company’s 50-day moving average is $25.30 and its two-hundred day moving average is $21.56.

Financial Institutions Announces Dividend

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

Wall Street Analysts Forecast Growth

FISI has been the subject of several research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $25.00 price objective (up from $20.00) on shares of Financial Institutions in a research note on Monday, July 29th. StockNews.com cut shares of Financial Institutions from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd.

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.