Financial Institutions (FISI) Set to Announce Quarterly Earnings on Thursday

Financial Institutions (NASDAQ:FISI) is scheduled to post its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect Financial Institutions to post earnings of $0.66 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings data on Thursday, January 25th. The bank reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.12). Financial Institutions had a return on equity of 12.24% and a net margin of 15.03%. The company had revenue of $55.25 million for the quarter, compared to the consensus estimate of $50.29 million. On average, analysts expect Financial Institutions to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Financial Institutions Stock Down 1.3 %

Shares of NASDAQ:FISI opened at $16.34 on Thursday. Financial Institutions has a 12 month low of $13.84 and a 12 month high of $23.11. The company’s 50-day moving average price is $18.40 and its two-hundred day moving average price is $18.73. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.28. The firm has a market cap of $252.45 million, a P/E ratio of 5.17 and a beta of 0.87.

Financial Institutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were given a $0.30 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.34%. Financial Institutions’s dividend payout ratio is 37.97%.

Hedge Funds Weigh In On Financial Institutions

Several hedge funds and other institutional investors have recently made changes to their positions in FISI. Great West Life Assurance Co. Can boosted its position in Financial Institutions by 177.3% during the first quarter. Great West Life Assurance Co. Can now owns 857 shares of the bank’s stock worth $26,000 after purchasing an additional 548 shares during the period. Captrust Financial Advisors lifted its holdings in shares of Financial Institutions by 107.1% during the second quarter. Captrust Financial Advisors now owns 1,073 shares of the bank’s stock worth $28,000 after buying an additional 555 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Financial Institutions by 189.6% during the fourth quarter. Citigroup Inc. now owns 1,758 shares of the bank’s stock worth $43,000 after buying an additional 1,151 shares in the last quarter. Point72 Middle East FZE acquired a new stake in shares of Financial Institutions during the second quarter worth $52,000. Finally, Advisor Group Holdings Inc. lifted its holdings in shares of Financial Institutions by 102.0% during the fourth quarter. Advisor Group Holdings Inc. now owns 2,960 shares of the bank’s stock worth $72,000 after buying an additional 1,495 shares in the last quarter. 60.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $23.00 target price on shares of Financial Institutions in a report on Tuesday, April 2nd. TheStreet raised shares of Financial Institutions from a “c+” rating to a “b-” rating in a research note on Thursday, December 28th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $19.00 price target (down from $23.00) on shares of Financial Institutions in a research note on Monday, March 25th. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.67.

About Financial Institutions

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.