Financial Institutions (NASDAQ:FISI) Issues Earnings Results, Misses Expectations By $0.20 EPS

Financial Institutions (NASDAQ:FISI) announced 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 return on equity of 11.32% and a net margin of 13.72%.

Financial Institutions Stock Performance

Shares of Financial Institutions stock opened at $26.37 on Friday. 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’s fifty day moving average price is $27.07 and its 200-day moving average price is $25.79. The firm has a market cap of $408.05 million, a P/E ratio of 8.29 and a beta of 0.91. Financial Institutions has a 12 month low of $16.29 and a 12 month high of $29.34.

Financial Institutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.55%. The ex-dividend date was Friday, December 13th. Financial Institutions’s dividend payout ratio is -82.76%.

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 acquired at an average price of $25.00 per share, with a total value of $100,000.00. Following the transaction, the director now owns 16,000 shares of the company’s stock, valued at approximately $400,000. This trade represents a 33.33 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

FISI has been the subject of a number of research analyst reports. StockNews.com lowered Financial Institutions from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Piper Sandler started coverage on Financial Institutions in a research report on Friday, December 20th. They set an “overweight” rating and a $33.00 target price for the company. Stephens reissued an “equal weight” rating and set a $33.00 target price on shares of Financial Institutions in a research note on Friday. 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 note on Wednesday, December 4th.

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.