Financial Institutions (NASDAQ:FISI) Posts Earnings Results, Beats Estimates By $0.08 EPS

Financial Institutions (NASDAQ:FISI) posted its quarterly earnings data on Thursday. The bank reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08, Zacks reports. Financial Institutions had a return on equity of 12.06% and a net margin of 13.95%. The firm had revenue of $50.12 million for the quarter. During the same period in the previous year, the firm earned $0.88 earnings per share.

Financial Institutions Stock Down 3.9 %

Shares of NASDAQ FISI traded down $0.97 during mid-day trading on Friday, reaching $24.01. 34,371 shares of the company were exchanged, compared to its average volume of 28,558. 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. Financial Institutions has a 1 year low of $15.51 and a 1 year high of $27.75. The firm has a 50-day moving average of $25.30 and a 200 day moving average of $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 issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 5.00%. The ex-dividend date was Friday, September 13th. Financial Institutions’s dividend payout ratio is 37.27%.

Analyst Upgrades and Downgrades

FISI has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $25.00 price target (up from $20.00) on shares of Financial Institutions in a report on Monday, July 29th. StockNews.com downgraded 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.