Financial Institutions (NASDAQ:FISI) Issues Earnings Results

Financial Institutions (NASDAQ:FISI - Get Free Report) issued its quarterly earnings data on Thursday. The bank reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.20), Zacks reports. Financial Institutions had a positive return on equity of 11.12% and a negative net margin of 6.69%.

Financial Institutions Trading Up 1.3 %

Shares of FISI stock traded up $0.35 during mid-day trading on Monday, hitting $26.72. 233,411 shares of the company's stock were exchanged, compared to its average volume of 149,396. The stock has a market cap of $413.36 million, a price-to-earnings ratio of -18.43 and a beta of 0.90. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26. Financial Institutions has a fifty-two week low of $16.29 and a fifty-two week high of $29.34. The stock has a 50-day simple moving average of $27.07 and a two-hundred day simple moving average of $25.83.

Financial Institutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a $0.30 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 4.49%. Financial Institutions's dividend payout ratio (DPR) is presently -82.76%.

Insider Buying and Selling

In other news, Director Robert N. Latella bought 4,000 shares of the business's stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $25.00 per share, with a total value of $100,000.00. Following the transaction, the director now owns 16,000 shares of the company's stock, valued at $400,000. This represents a 33.33 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FISI shares. Stephens reiterated an "equal weight" rating and issued a $33.00 price objective on shares of Financial Institutions in a report on Friday. Keefe, Bruyette & Woods raised shares of Financial Institutions from a "market perform" rating to an "outperform" rating and upped their target price for the company from $29.00 to $34.00 in a report on Monday. Piper Sandler assumed coverage on Financial Institutions in a research report on Friday, December 20th. They set an "overweight" rating and a $33.00 target price on the stock. Finally, StockNews.com lowered Financial Institutions from a "buy" rating to a "hold" rating in a report on Wednesday, December 18th.

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.