Financial Institutions (NASDAQ:FISI) posted its quarterly earnings results on Monday. The bank reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03, Morningstar.com reports. Financial Institutions had a return on equity of 11.79% and a net margin of 21.36%. The company had revenue of $41.70 million during the quarter, compared to analysts’ expectations of $41.30 million.

Shares of Financial Institutions stock traded up $0.78 during trading on Tuesday, reaching $29.65. 17,108 shares of the company’s stock were exchanged, compared to its average volume of 25,786. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.10. Financial Institutions has a 1-year low of $24.49 and a 1-year high of $33.35. The stock has a market cap of $463.86 million, a P/E ratio of 11.54 and a beta of 0.88. The company has a 50-day simple moving average of $28.12.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Friday, June 14th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, June 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.37%. Financial Institutions’s dividend payout ratio (DPR) is currently 38.91%.

In other news, CEO Martin Kearney Birmingham acquired 1,000 shares of Financial Institutions stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average price of $28.33 per share, for a total transaction of $28,330.00. Following the transaction, the chief executive officer now directly owns 78,454 shares of the company’s stock, valued at approximately $2,222,601.82. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph L. Dugan acquired 10,600 shares of Financial Institutions stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average price of $28.45 per share, for a total transaction of $301,570.00. The disclosure for this purchase can be found here. Insiders own 4.03% of the company’s stock.

A number of hedge funds have recently modified their holdings of FISI. California Public Employees Retirement System raised its holdings in Financial Institutions by 0.8% in the 4th quarter. California Public Employees Retirement System now owns 49,780 shares of the bank’s stock worth $1,279,000 after acquiring an additional 409 shares during the last quarter. BlackRock Inc. raised its position in shares of Financial Institutions by 1.0% during the 4th quarter. BlackRock Inc. now owns 1,238,775 shares of the bank’s stock valued at $31,835,000 after buying an additional 12,870 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Financial Institutions by 1.0% during the 4th quarter. Bank of New York Mellon Corp now owns 113,716 shares of the bank’s stock valued at $2,922,000 after buying an additional 1,145 shares in the last quarter. Citigroup Inc. raised its position in shares of Financial Institutions by 16.5% during the 4th quarter. Citigroup Inc. now owns 5,010 shares of the bank’s stock valued at $128,000 after buying an additional 710 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Financial Institutions by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,338,252 shares of the bank’s stock valued at $34,393,000 after buying an additional 31,067 shares in the last quarter. Institutional investors and hedge funds own 70.99% of the company’s stock.

Separately, BidaskClub cut Xencor from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 11th.

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.

Further Reading: What is the yield curve?

Earnings History for Financial Institutions (NASDAQ:FISI)

Receive News & Ratings for Financial Institutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Financial Institutions and related companies with MarketBeat.com's FREE daily email newsletter.