Financial Institutions (NASDAQ:FISI) Releases Earnings Results, Beats Expectations By $0.07 EPS

Financial Institutions (NASDAQ:FISI) released its earnings results on Monday. The bank reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07, Zacks reports. Financial Institutions had a positive return on equity of 11.12% and a negative net margin of 6.69%. The company had revenue of $57.24 million during the quarter, compared to analyst estimates of $57.14 million.

Financial Institutions Stock Performance

Shares of Financial Institutions stock opened at $24.06 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50-day simple moving average of $24.97 and a 200 day simple moving average of $26.22. The firm has a market capitalization of $483.85 million, a price-to-earnings ratio of -16.59 and a beta of 0.68. Financial Institutions has a one year low of $16.81 and a one year high of $29.79.

Financial Institutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, March 14th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 5.15%. This is a positive change from Financial Institutions’s previous quarterly dividend of $0.30. The ex-dividend date was Friday, March 14th. Financial Institutions’s payout ratio is presently -85.52%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. StockNews.com upgraded Financial Institutions from a “sell” rating to a “hold” rating in a report on Tuesday, February 11th. Stephens reiterated an “equal weight” rating and set a $32.00 price target on shares of Financial Institutions in a research report on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods raised shares of Financial Institutions from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $29.00 to $34.00 in a research report on Monday, February 3rd.

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.