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

Financial Institutions (NASDAQ:FISI) issued its quarterly earnings results on Thursday. The bank reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08, Zacks reports. The company had revenue of $50.12 million for the quarter. Financial Institutions had a return on equity of 12.06% and a net margin of 13.95%. During the same quarter last year, the company earned $0.88 EPS.

Financial Institutions Stock Down 3.9 %

FISI traded down $0.97 on Friday, reaching $24.01. The company’s stock had a trading volume of 34,371 shares, compared to its average volume of 28,558. The company has a market capitalization of $370.95 million, a price-to-earnings ratio of 7.46 and a beta of 0.89. Financial Institutions has a fifty-two week low of $15.51 and a fifty-two week high of $27.75. 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 50 day moving average of $25.30 and a two-hundred day moving average of $21.56.

Financial Institutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Friday, September 13th were given a dividend of $0.30 per share. 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 (DPR) is presently 37.27%.

Wall Street Analysts Forecast Growth

FISI has been the subject of a number of analyst reports. StockNews.com downgraded Financial Institutions from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $25.00 price target (up previously from $20.00) on shares of Financial Institutions in a report on Monday, July 29th.

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.