$0.53 Earnings Per Share Expected for Financial Institutions, Inc. (FISI) This Quarter
Wall Street brokerages forecast that Financial Institutions, Inc. (NASDAQ:FISI) will announce earnings of $0.53 per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Financial Institutions’ earnings. Financial Institutions posted earnings per share of $0.57 in the same quarter last year, which indicates a negative year-over-year growth rate of 7%. The business is expected to issue its next earnings results on Tuesday, January 23rd.
According to Zacks, analysts expect that Financial Institutions will report full year earnings of $1.98 per share for the current year. For the next financial year, analysts expect that the company will report earnings of $2.10 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Financial Institutions.
Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings data on Tuesday, October 24th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.02. The business had revenue of $37.01 million for the quarter. Financial Institutions had a net margin of 19.46% and a return on equity of 9.93%.
FISI has been the topic of several analyst reports. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $33.00 price target on shares of Financial Institutions in a report on Friday, September 22nd. ValuEngine lowered shares of Financial Institutions from a “buy” rating to a “hold” rating in a report on Thursday, September 7th. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $31.50 price target on shares of Financial Institutions in a report on Thursday, August 3rd.
A number of hedge funds and other institutional investors have recently modified their holdings of FISI. Numeric Investors LLC lifted its position in Financial Institutions by 306.4% during the 2nd quarter. Numeric Investors LLC now owns 241,803 shares of the bank’s stock worth $7,206,000 after buying an additional 182,306 shares in the last quarter. Banc Funds Co. LLC lifted its position in Financial Institutions by 113.3% during the 2nd quarter. Banc Funds Co. LLC now owns 188,261 shares of the bank’s stock worth $5,610,000 after buying an additional 100,000 shares in the last quarter. Thrivent Financial For Lutherans acquired a new position in Financial Institutions during the 2nd quarter worth about $2,401,000. Dimensional Fund Advisors LP lifted its position in Financial Institutions by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 967,271 shares of the bank’s stock worth $28,825,000 after buying an additional 77,202 shares in the last quarter. Finally, ClariVest Asset Management LLC lifted its position in Financial Institutions by 64.0% during the 2nd quarter. ClariVest Asset Management LLC now owns 145,814 shares of the bank’s stock worth $4,345,000 after buying an additional 56,900 shares in the last quarter. Institutional investors and hedge funds own 67.42% of the company’s stock.
Financial Institutions (NASDAQ FISI) opened at 32.95 on Friday. Financial Institutions has a 52 week low of $25.65 and a 52 week high of $35.40. The company’s 50 day moving average is $29.01 and its 200 day moving average is $29.90. The stock has a market cap of $494.18 million, a P/E ratio of 16.08 and a beta of 1.20.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Thursday, September 14th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend was Wednesday, September 13th. Financial Institutions’s payout ratio is 41.79%.
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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