Financial Institutions (NASDAQ:FISI) Announces Quarterly Earnings Results

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 Performance

Shares of NASDAQ:FISI opened at $27.16 on Friday. The firm’s 50 day simple moving average is $27.10 and its 200 day simple moving average is $25.74. Financial Institutions has a fifty-two week low of $16.29 and a fifty-two week high of $29.34. The company has a market capitalization of $420.17 million, a price-to-earnings ratio of 8.54 and a beta of 0.91. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86.

Financial Institutions Announces Dividend

The business also recently announced 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 of this dividend was Friday, December 13th. This represents a $1.20 annualized dividend and a dividend yield of 4.42%. Financial Institutions’s payout ratio is currently 37.74%.

Analyst Ratings Changes

A number of analysts recently commented on FISI shares. Keefe, Bruyette & Woods lifted their price objective on Financial Institutions from $27.00 to $28.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com cut shares of Financial Institutions from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Piper Sandler assumed coverage on shares of Financial Institutions in a report on Friday, December 20th. They issued an “overweight” rating and a $33.00 price objective on the stock.

Insider Activity at Financial Institutions

In other Financial Institutions news, Director Robert N. Latella purchased 4,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $25.00 per share, with a total value of $100,000.00. Following the completion of the transaction, the director now directly owns 16,000 shares in the company, valued at $400,000. This trade represents a 33.33 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.