Financial Institutions (NASDAQ:FISI) Announces Earnings Results, Beats Estimates By $0.92 EPS

Financial Institutions (NASDAQ:FISI) released its earnings results on Thursday. The bank reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $102.80 million during the quarter. During the same period in the prior year, the firm earned $0.91 EPS.

Financial Institutions Stock Performance

Financial Institutions stock traded up $1.17 during mid-day trading on Friday, reaching $25.80. The company had a trading volume of 85,332 shares, compared to its average volume of 63,563. 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 firm 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 50 day moving average of $19.16 and a 200-day moving average of $18.99. Financial Institutions has a 52 week low of $15.22 and a 52 week high of $25.83.

Financial Institutions Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $23.00 price objective on shares of Financial Institutions in a research 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.