Financial Institutions (NASDAQ:FISI) Announces Earnings Results

Financial Institutions (NASDAQ:FISI) released its quarterly earnings results on Thursday. The bank reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08, Zacks reports. The company had revenue of $50.12 million during 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 posted $0.88 EPS.

Financial Institutions Trading Down 3.9 %

Shares of NASDAQ:FISI traded down $0.97 during midday trading on Friday, hitting $24.01. The company had a trading volume of 34,371 shares, compared to its average volume of 28,558. The stock has a market cap of $370.95 million, a price-to-earnings ratio of 7.46 and a beta of 0.89. Financial Institutions has a 12 month low of $15.51 and a 12 month high of $27.75. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The firm has a fifty day simple moving average of $25.30 and a 200 day simple moving average of $21.56.

Financial Institutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Friday, September 13th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.20 annualized dividend and a dividend yield of 5.00%. Financial Institutions’s dividend payout ratio is currently 37.27%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FISI. Keefe, Bruyette & Woods restated a “market perform” rating and set a $25.00 target price (up previously from $20.00) on shares of Financial Institutions in a research note on Monday, July 29th. StockNews.com cut Financial Institutions from a “buy” rating to a “hold” rating in a report on Wednesday, October 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.