Financial Institutions (NASDAQ:FISI – Get Free Report) released its earnings results on Thursday. The bank reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.06), FiscalAI reports. Financial Institutions had a net margin of 21.78% and a return on equity of 13.45%. The company had revenue of $64.75 million during the quarter, compared to the consensus estimate of $66.55 million.
Financial Institutions Trading Up 0.3%
Shares of NASDAQ FISI opened at $40.88 on Friday. Financial Institutions has a 1-year low of $28.00 and a 1-year high of $42.97. The company has a 50-day moving average of $40.18 and a two-hundred day moving average of $36.66. The company has a market cap of $805.74 million, a PE ratio of 10.12 and a beta of 0.62. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.13.
Financial Institutions Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.1%. Financial Institutions’s payout ratio is currently 31.76%.
Wall Street Analyst Weigh In
A number of analysts have commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Financial Institutions in a research report on Friday, October 2nd. Keefe, Bruyette & Woods upped their target price on Financial Institutions from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $45.00 price objective (up from $38.00) on shares of Financial Institutions in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.00.
View Our Latest Stock Analysis on Financial Institutions
About Financial Institutions
Financial Institutions, Inc (NASDAQ:FISI) is a diversified financial services company headquartered in Warsaw, New York. Through its principal banking subsidiary, Five Star Bank, the company provides community banking services to individuals, families, businesses and public-sector organizations.
Five Star Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, business financing, cash-management services and other traditional banking products. The company also provides wealth management, investment advisory and retirement-plan administration services through specialized subsidiaries, including Courier Capital and Benefit Plan Administrative Services.
Financial Institutions serves customers primarily across communities in upstate New York, with related financial services available in additional markets.
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