Financial Institutions (NASDAQ:FISI) announced its quarterly earnings results on Wednesday. The bank reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.40, MarketWatch Earnings reports. Financial Institutions had a net margin of 18.20% and a return on equity of 9.02%. The firm had revenue of $44.01 million during the quarter, compared to analysts’ expectations of $42.72 million.

Shares of Financial Institutions stock traded down $0.45 during midday trading on Friday, reaching $14.58. The company had a trading volume of 24,395 shares, compared to its average volume of 44,624. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $237.26 million, a price-to-earnings ratio of 6.37 and a beta of 1.10. The stock has a fifty day simple moving average of $16.99 and a 200 day simple moving average of $21.05. Financial Institutions has a 1-year low of $12.78 and a 1-year high of $33.28.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 7.13%. The ex-dividend date of this dividend was Thursday, June 11th. Financial Institutions’s dividend payout ratio is currently 35.14%.

In related news, Director Andrew W. Dorn, Jr. purchased 2,558 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was acquired at an average price of $18.57 per share, with a total value of $47,502.06. Following the completion of the acquisition, the director now directly owns 24,000 shares in the company, valued at approximately $445,680. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Martin Kearney Birmingham bought 5,000 shares of the stock in a transaction on Tuesday, May 5th. The shares were acquired at an average cost of $18.83 per share, with a total value of $94,150.00. Following the acquisition, the chief executive officer now directly owns 88,206 shares in the company, valued at approximately $1,660,918.98. The disclosure for this purchase can be found here. In the last three months, insiders purchased 10,058 shares of company stock valued at $185,142. 4.03% of the stock is currently owned by company insiders.

A number of research analysts have recently issued reports on FISI shares. Zacks Investment Research upgraded shares of Financial Institutions from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 1st. BidaskClub cut shares of Financial Institutions from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th. ValuEngine upgraded shares of Financial Institutions from a “strong sell” rating to a “sell” rating in a research note on Friday, May 1st. Sidoti started coverage on shares of Financial Institutions in a research note on Friday. They issued a “neutral” rating for the company. Finally, Keefe, Bruyette & Woods cut their target price on shares of Financial Institutions from $24.00 to $22.00 and set a “market perform” rating for the company in a research note on Friday. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $27.50.

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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Earnings History for Financial Institutions (NASDAQ:FISI)

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