Financial Institutions (NASDAQ:FISI) Posts Quarterly Earnings Results, Beats Estimates By $0.17 EPS

Financial Institutions (NASDAQ:FISIGet Rating) issued its earnings results on Wednesday. The bank reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.17, MarketWatch Earnings reports. Financial Institutions had a return on equity of 15.05% and a net margin of 33.70%. During the same quarter in the previous year, the company posted $1.27 EPS.

NASDAQ FISI traded down $0.39 on Friday, reaching $27.84. The stock had a trading volume of 50,635 shares, compared to its average volume of 38,293. The firm has a market capitalization of $432.36 million, a price-to-earnings ratio of 6.27 and a beta of 1.06. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.15. Financial Institutions has a 12-month low of $27.32 and a 12-month high of $34.43. The stock has a fifty day moving average price of $30.67 and a two-hundred day moving average price of $31.66.

The company also recently announced a quarterly dividend, which was paid on Monday, April 4th. Shareholders of record on Friday, March 18th were given a $0.29 dividend. This is a positive change from Financial Institutions’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Thursday, March 17th. This represents a $1.16 dividend on an annualized basis and a yield of 4.17%. Financial Institutions’s payout ratio is presently 26.13%.

Several analysts have recently commented on FISI shares. StockNews.com started coverage on shares of Financial Institutions in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Zacks Investment Research lowered shares of Financial Institutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 5th.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Citigroup Inc. raised its position in Financial Institutions by 126.8% in the fourth quarter. Citigroup Inc. now owns 3,990 shares of the bank’s stock valued at $127,000 after purchasing an additional 2,231 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Financial Institutions by 96.9% during the third quarter. BNP Paribas Arbitrage SA now owns 4,172 shares of the bank’s stock worth $128,000 after acquiring an additional 2,053 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Financial Institutions during the fourth quarter worth $220,000. Royal Bank of Canada increased its position in shares of Financial Institutions by 36.5% during the third quarter. Royal Bank of Canada now owns 8,972 shares of the bank’s stock worth $275,000 after acquiring an additional 2,400 shares during the period. Finally, Deutsche Bank AG increased its position in shares of Financial Institutions by 5.5% during the fourth quarter. Deutsche Bank AG now owns 9,500 shares of the bank’s stock worth $302,000 after acquiring an additional 492 shares during the period. 68.53% of the stock is currently owned by institutional investors.

Financial Institutions Company Profile (Get Rating)

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 offers checking and savings account programs, including money market accounts, certificates of deposit, sweep investments, and individual retirement and other qualified plan accounts.

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Earnings History for Financial Institutions (NASDAQ:FISI)

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