Financial Institutions (NASDAQ:FISI) Releases Earnings Results, Beats Expectations By $0.92 EPS

Financial Institutions (NASDAQ:FISI) issued its quarterly earnings data on Thursday. The bank reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.92, Zacks reports. The firm 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 period in the prior year, the firm posted $0.91 earnings per share.

Financial Institutions Price Performance

FISI stock traded up $1.17 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 debt-to-equity ratio of 0.29, a quick ratio of 0.84 and a current ratio of 0.84. The company’s fifty day moving average is $19.16 and its 200 day moving average is $18.99. The company has a market cap of $398.61 million, a P/E ratio of 10.28 and a beta of 0.91. Financial Institutions has a 1 year low of $15.22 and a 1 year high of $25.83.

Financial Institutions Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $23.00 price target on shares of Financial Institutions in a research note on Tuesday, April 2nd.

About Financial Institutions

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.