Financial Institutions (NASDAQ:FISI) Announces Quarterly Earnings Results

Financial Institutions (NASDAQ:FISI) issued its quarterly earnings data on Thursday. The bank reported $1.62 EPS for the quarter, topping the consensus estimate of $0.70 by $0.92, Zacks reports. Financial Institutions had a net margin of 13.95% and a return on equity of 12.29%. The business had revenue of $102.80 million during the quarter. During the same quarter last year, the business earned $0.91 earnings per share.

Financial Institutions Stock Up 4.8 %

Shares of FISI stock traded up $1.17 during trading hours on Friday, hitting $25.80. 85,332 shares of the company’s stock traded hands, compared to its average volume of 63,563. The stock has a market cap of $398.61 million, a price-to-earnings ratio of 10.28 and a beta of 0.91. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.29. The stock’s fifty day simple moving average is $19.16 and its two-hundred day simple moving average is $18.99. Financial Institutions has a 12-month low of $15.22 and a 12-month high of $25.83.

Financial Institutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Friday, June 14th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, June 14th. This represents a $1.20 annualized dividend and a dividend yield of 4.65%. Financial Institutions’s payout ratio is 47.81%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $23.00 price objective on shares of Financial Institutions in a report on Tuesday, April 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.