Financial Institutions (FISI) Set to Announce Quarterly Earnings on Thursday

Financial Institutions (NASDAQ:FISI) will be issuing its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $0.66 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Financial Institutions (NASDAQ:FISI) last announced its earnings results on Thursday, January 25th. The bank reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.12). Financial Institutions had a net margin of 15.03% and a return on equity of 12.24%. The business had revenue of $55.25 million during the quarter, compared to analysts’ expectations of $50.29 million. On average, analysts expect Financial Institutions to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Financial Institutions Price Performance

Shares of NASDAQ:FISI opened at $16.34 on Thursday. The company has a 50-day simple moving average of $18.40 and a 200-day simple moving average of $18.73. Financial Institutions has a one year low of $13.84 and a one year high of $23.11. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $252.45 million, a price-to-earnings ratio of 5.17 and a beta of 0.87.

Financial Institutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 7.34%. Financial Institutions’s dividend payout ratio (DPR) is currently 37.97%.

Hedge Funds Weigh In On Financial Institutions

A number of hedge funds have recently made changes to their positions in the business. UBS Group AG increased its stake in Financial Institutions by 33.9% during the 1st quarter. UBS Group AG now owns 5,690 shares of the bank’s stock worth $110,000 after buying an additional 1,441 shares during the period. Qube Research & Technologies Ltd purchased a new stake in Financial Institutions during the 3rd quarter worth $107,000. Wells Fargo & Company MN increased its stake in Financial Institutions by 68.7% during the 2nd quarter. Wells Fargo & Company MN now owns 6,588 shares of the bank’s stock worth $104,000 after buying an additional 2,683 shares during the period. Osaic Holdings Inc. increased its stake in Financial Institutions by 67.8% during the 2nd quarter. Osaic Holdings Inc. now owns 4,748 shares of the bank’s stock worth $75,000 after buying an additional 1,919 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Financial Institutions by 263.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,056 shares of the bank’s stock worth $73,000 after buying an additional 2,216 shares during the period. Hedge funds and other institutional investors own 60.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Piper Sandler reiterated a “neutral” rating and issued a $19.00 price target (down previously from $23.00) on shares of Financial Institutions in a report on Monday, March 25th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $23.00 price target on shares of Financial Institutions in a report on Tuesday, April 2nd. Finally, TheStreet upgraded shares of Financial Institutions from a “c+” rating to a “b-” rating in a report on Thursday, December 28th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.67.

About Financial Institutions

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.