Financial Institutions, Inc. (NASDAQ:FISI) Releases Quarterly Earnings Results, Misses Estimates By $0.08 EPS
Financial Institutions, Inc. (NASDAQ:FISI) posted its earnings results on Tuesday. The bank reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.48 by $0.08, Morningstar.com reports. The business had revenue of $36.76 million during the quarter. Financial Institutions had a return on equity of 10.53% and a net margin of 21.15%.
Financial Institutions (NASDAQ FISI) traded down 2.27% during trading on Wednesday, hitting $30.15. 13,314 shares of the stock were exchanged. The firm has a market capitalization of $434.34 million, a price-to-earnings ratio of 14.22 and a beta of 1.19. The company has a 50-day moving average price of $30.12 and a 200 day moving average price of $32.23. Financial Institutions has a 1-year low of $25.98 and a 1-year high of $35.40.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Wednesday, June 14th were given a $0.21 dividend. The ex-dividend date was Monday, June 12th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.72%. Financial Institutions’s dividend payout ratio (DPR) is currently 39.62%.
A number of large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in Financial Institutions by 5.8% in the first quarter. Bank of New York Mellon Corp now owns 108,947 shares of the bank’s stock valued at $3,590,000 after buying an additional 5,988 shares in the last quarter. LSV Asset Management raised its stake in Financial Institutions by 0.6% in the first quarter. LSV Asset Management now owns 343,035 shares of the bank’s stock valued at $11,303,000 after buying an additional 1,975 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Financial Institutions by 11.6% in the first quarter. Russell Investments Group Ltd. now owns 49,922 shares of the bank’s stock valued at $1,644,000 after buying an additional 5,169 shares in the last quarter. Acadian Asset Management LLC raised its stake in Financial Institutions by 30.1% in the first quarter. Acadian Asset Management LLC now owns 13,265 shares of the bank’s stock valued at $438,000 after buying an additional 3,070 shares in the last quarter. Finally, IFC Holdings Incorporated FL raised its stake in Financial Institutions by 0.6% in the first quarter. IFC Holdings Incorporated FL now owns 9,347 shares of the bank’s stock valued at $308,000 after buying an additional 57 shares in the last quarter. 63.81% of the stock is owned by institutional investors.
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Several equities analysts have recently weighed in on FISI shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $33.00 target price on shares of Financial Institutions in a research note on Wednesday, April 26th. ValuEngine upgraded shares of Financial Institutions from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th.
Financial Institutions Company Profile
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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