Wall Street brokerages forecast that Financial Institutions, Inc. (NASDAQ:FISI) will post earnings per share of $0.53 for the current quarter, according to Zacks. Two analysts have made estimates for Financial Institutions’ earnings. Financial Institutions posted earnings per share of $0.78 in the same quarter last year, which suggests a negative year-over-year growth rate of 32.1%. The company is scheduled to announce its next quarterly earnings results on Tuesday, November 3rd.
On average, analysts expect that Financial Institutions will report full-year earnings of $1.98 per share for the current fiscal year. For the next financial year, analysts expect that the firm will report earnings of $2.27 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Financial Institutions.
Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings results on Wednesday, July 29th. The bank reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.40. Financial Institutions had a return on equity of 8.96% and a net margin of 18.20%. The business had revenue of $44.01 million for the quarter, compared to the consensus estimate of $42.72 million.
Shares of NASDAQ FISI traded down $0.01 during mid-day trading on Friday, reaching $14.93. The company had a trading volume of 67,234 shares, compared to its average volume of 54,828. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $239.45 million, a price-to-earnings ratio of 6.52 and a beta of 1.10. The stock has a fifty day moving average of $16.93 and a two-hundred day moving average of $17.17. Financial Institutions has a 12-month low of $12.78 and a 12-month high of $33.28.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 11th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 6.97%. The ex-dividend date of this dividend is Thursday, September 10th. Financial Institutions’s dividend payout ratio is currently 35.14%.
Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in shares of Financial Institutions by 3.3% in the first quarter. BlackRock Inc. now owns 1,297,537 shares of the bank’s stock worth $23,536,000 after purchasing an additional 41,281 shares during the period. Canandaigua National Corp bought a new stake in shares of Financial Institutions in the second quarter valued at approximately $7,352,000. State Street Corp grew its stake in shares of Financial Institutions by 3.2% in the first quarter. State Street Corp now owns 379,479 shares of the bank’s stock worth $6,977,000 after acquiring an additional 11,906 shares during the last quarter. Prudential Financial Inc. raised its stake in Financial Institutions by 5.9% during the 2nd quarter. Prudential Financial Inc. now owns 269,319 shares of the bank’s stock valued at $5,013,000 after purchasing an additional 14,961 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Financial Institutions by 4.1% during the first quarter. Geode Capital Management LLC now owns 258,542 shares of the bank’s stock worth $4,689,000 after buying an additional 10,086 shares in the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.
Financial Institutions Company Profile
Financial Institutions, Inc operates as the holding company for Five Star Bank that provides banking and financial services to individuals, municipalities, and businesses. It operates in two segments, Banking and Non-Banking. The company offers checking and savings account programs, including money market accounts, certificates of deposit, and sweep investments, as well as individual retirement and other qualified plan accounts.
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