Financial Institutions (NASDAQ:FISI) Announces Quarterly Earnings Results

Financial Institutions (NASDAQ:FISI) announced its quarterly earnings results on Thursday. The bank reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.92, Zacks reports. The business had revenue of $102.80 million during the quarter. Financial Institutions had a return on equity of 12.29% and a net margin of 13.95%. During the same quarter in the prior year, the business earned $0.91 EPS.

Financial Institutions Price Performance

Shares of NASDAQ FISI traded up $1.17 during 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 current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.29. Financial Institutions has a twelve month low of $15.22 and a twelve month high of $25.83. The stock has a 50-day moving average price of $19.16 and a two-hundred day moving average price of $18.99. The stock has a market capitalization of $398.61 million, a PE ratio of 10.28 and a beta of 0.91.

Financial Institutions Dividend Announcement

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

Analyst Ratings Changes

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