Financial Institutions, Inc. (NASDAQ:FISI) Expected to Post Earnings of $0.48 Per Share
Wall Street brokerages expect Financial Institutions, Inc. (NASDAQ:FISI) to announce earnings per share (EPS) of $0.48 for the current quarter, Zacks reports. Zero analysts have provided estimates for Financial Institutions’ earnings. Financial Institutions posted earnings of $0.47 per share during the same quarter last year, which would indicate a positive year over year growth rate of 2.1%. The firm is expected to announce its next quarterly earnings results on Tuesday, July 25th.
On average, analysts expect that Financial Institutions will report full year earnings of $2.10 per share for the current financial year. For the next year, analysts forecast that the company will post earnings of $2.25 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that follow Financial Institutions.
Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings results on Tuesday, April 25th. The bank reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $34.83 million for the quarter. Financial Institutions had a return on equity of 10.53% and a net margin of 21.15%.
A number of research analysts recently weighed in on the stock. ValuEngine upgraded shares of Financial Institutions from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $33.00 price target on shares of Financial Institutions in a report on Wednesday, April 26th. Finally, Hovde Group initiated coverage on shares of Financial Institutions in a report on Monday, March 20th. They issued an “outperform” rating for the company.
A number of hedge funds and other institutional investors have recently made changes to their positions in FISI. JPMorgan Chase & Co. increased its position in shares of Financial Institutions by 72.6% in the first quarter. JPMorgan Chase & Co. now owns 504,240 shares of the bank’s stock valued at $16,615,000 after buying an additional 212,141 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Financial Institutions by 105.4% in the fourth quarter. Renaissance Technologies LLC now owns 251,800 shares of the bank’s stock valued at $8,612,000 after buying an additional 129,200 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Financial Institutions by 6.6% in the first quarter. Dimensional Fund Advisors LP now owns 890,069 shares of the bank’s stock valued at $29,328,000 after buying an additional 55,144 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Financial Institutions by 29.6% in the first quarter. Prudential Financial Inc. now owns 237,122 shares of the bank’s stock valued at $7,813,000 after buying an additional 54,180 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Financial Institutions by 10.1% in the first quarter. Vanguard Group Inc. now owns 584,353 shares of the bank’s stock valued at $19,255,000 after buying an additional 53,552 shares during the last quarter. 63.81% of the stock is owned by hedge funds and other institutional investors.
Shares of Financial Institutions (NASDAQ FISI) traded up 2.18% during trading on Monday, reaching $30.45. The company’s stock had a trading volume of 41,442 shares. The firm has a market cap of $438.66 million, a PE ratio of 14.36 and a beta of 1.20. The stock’s 50 day moving average price is $30.82 and its 200-day moving average price is $32.66. Financial Institutions has a 12 month low of $25.16 and a 12 month high of $35.40.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Wednesday, June 14th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.76%. The ex-dividend date is Monday, June 12th. Financial Institutions’s payout ratio is 39.62%.
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About Financial Institutions
Financial Institutions, Inc is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank; Scott Danahy Naylon, LLC (SDN), a full service insurance agency, and Courier Capital, LLC (Courier Capital), an investment advisory and wealth management company.
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