Financial Institutions (NASDAQ:FISI) Announces Earnings Results

Financial Institutions (NASDAQ:FISI) issued its quarterly earnings data on Thursday. The bank reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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 Performance

FISI traded down $0.03 on Thursday, hitting $27.16. 120,730 shares of the company’s stock were exchanged, 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 stock has a fifty day moving average of $27.10 and a two-hundred day moving average of $25.74. The firm has a market cap of $420.17 million, a PE ratio of 8.54 and a beta of 0.91. Financial Institutions has a twelve month low of $16.29 and a twelve month high of $29.34.

Financial Institutions Announces Dividend

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

Insider Activity at Financial Institutions

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

Wall Street Analysts Forecast Growth

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

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.