Brokers Offer Predictions for Financial Institutions, Inc.’s Q1 2020 Earnings (FISI)

Financial Institutions, Inc. (NASDAQ:FISI) – Equities research analysts at Piper Jaffray Companies lowered their Q1 2020 earnings per share (EPS) estimates for shares of Financial Institutions in a research note issued to investors on Monday, February 4th. Piper Jaffray Companies analyst M. Breese now anticipates that the bank will post earnings of $0.66 per share for the quarter, down from their previous forecast of $0.68. Piper Jaffray Companies also issued estimates for Financial Institutions’ Q4 2020 earnings at $0.76 EPS.

Other equities analysts also recently issued reports about the company. Zacks Investment Research raised Financial Institutions from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Wednesday. ValuEngine raised Financial Institutions from a “sell” rating to a “hold” rating in a report on Friday, January 4th. Finally, BidaskClub raised Financial Institutions from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 30th.

Shares of FISI opened at $27.75 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $438.73 million, a P/E ratio of 10.80 and a beta of 0.89. Financial Institutions has a 52-week low of $24.49 and a 52-week high of $34.35.

Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings results on Thursday, January 31st. The bank reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.05. The firm had revenue of $41.38 million during the quarter, compared to the consensus estimate of $40.40 million. Financial Institutions had a return on equity of 11.49% and a net margin of 20.89%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royce & Associates LP boosted its holdings in shares of Financial Institutions by 42,190.7% in the third quarter. Royce & Associates LP now owns 214,837 shares of the bank’s stock valued at $6,746,000 after acquiring an additional 214,329 shares during the period. Morgan Stanley boosted its holdings in shares of Financial Institutions by 121.4% in the third quarter. Morgan Stanley now owns 238,672 shares of the bank’s stock valued at $7,494,000 after acquiring an additional 130,863 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Financial Institutions in the third quarter valued at approximately $3,462,000. Renaissance Technologies LLC boosted its holdings in shares of Financial Institutions by 20.2% in the third quarter. Renaissance Technologies LLC now owns 388,600 shares of the bank’s stock valued at $12,202,000 after acquiring an additional 65,400 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Financial Institutions by 4.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,307,185 shares of the bank’s stock valued at $41,046,000 after acquiring an additional 61,163 shares during the period. 70.50% 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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Earnings History and Estimates for Financial Institutions (NASDAQ:FISI)

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