Wall Street brokerages forecast that Financial Institutions, Inc. (NASDAQ:FISI) will report $0.55 earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have made estimates for Financial Institutions’ earnings. Financial Institutions reported earnings of $0.52 per share in the same quarter last year, which indicates a positive year over year growth rate of 5.8%. The firm is expected to report its next earnings results on Tuesday, April 24th.
According to Zacks, analysts expect that Financial Institutions will report full-year earnings of $2.34 per share for the current fiscal year. For the next financial year, analysts expect that the company will post earnings of $2.52 per share. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Financial Institutions.
Financial Institutions (NASDAQ:FISI) last announced its earnings results on Monday, January 29th. The bank reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. Financial Institutions had a net margin of 20.34% and a return on equity of 9.07%. The business had revenue of $38.75 million during the quarter.
Several research analysts have commented on FISI shares. BidaskClub downgraded shares of Financial Institutions from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Hovde Group reissued a “buy” rating and set a $36.00 price target on shares of Financial Institutions in a research note on Friday, February 2nd. ValuEngine downgraded shares of Financial Institutions from a “buy” rating to a “hold” rating in a research note on Thursday, March 1st. Finally, Keefe, Bruyette & Woods downgraded shares of Financial Institutions to a “market perform” rating and set a $35.00 price target on the stock. in a research note on Thursday, March 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Financial Institutions has an average rating of “Hold” and a consensus target price of $34.17.
In other news, Director Andrew W. Dorn, Jr. bought 1,557 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were bought at an average cost of $30.95 per share, with a total value of $48,189.15. Following the completion of the purchase, the director now directly owns 16,999 shares in the company, valued at $526,119.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.49% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of FISI. SG Americas Securities LLC purchased a new position in shares of Financial Institutions in the third quarter worth $139,000. Nordea Investment Management AB boosted its holdings in Financial Institutions by 3.1% in the third quarter. Nordea Investment Management AB now owns 86,200 shares of the bank’s stock valued at $2,483,000 after acquiring an additional 2,600 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Financial Institutions by 60.2% during the 3rd quarter. Wells Fargo & Company MN now owns 14,979 shares of the bank’s stock valued at $431,000 after buying an additional 5,628 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Financial Institutions by 2.2% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 127,867 shares of the bank’s stock valued at $3,683,000 after buying an additional 2,803 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Financial Institutions by 6.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,034,254 shares of the bank’s stock valued at $29,786,000 after buying an additional 66,983 shares in the last quarter. 69.75% of the stock is currently owned by institutional investors.
Financial Institutions stock traded up $0.20 during mid-day trading on Wednesday, hitting $30.50. 2,601 shares of the company traded hands, compared to its average volume of 47,200. Financial Institutions has a one year low of $25.65 and a one year high of $35.35. The firm has a market cap of $481.90, a PE ratio of 15.62 and a beta of 1.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.77 and a quick ratio of 0.77.
The company also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Thursday, March 15th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.15%. This is an increase from Financial Institutions’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, March 14th. Financial Institutions’s payout ratio is presently 49.48%.
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About Financial Institutions
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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