Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Financial Institutions ( (FISI) ) just unveiled an update.
Financial Institutions, Inc. announced its financial results for the fourth quarter and full year of 2024, reflecting a balance sheet restructuring plan executed in December. The company reported a net loss of $65.7 million for the fourth quarter, primarily due to a $100.2 million pre-tax loss from the sale of $653.5 million in investment securities. The funds raised from a successful equity offering were used to offset these losses and reinvested into higher-yielding securities, improving the company’s capital position. Despite a challenging year, the company remains optimistic about future growth opportunities, citing strategic initiatives and improved metrics, such as a 10.88% common equity tier 1 ratio and a 2.91% net interest margin by year-end 2024.
More about Financial Institutions
Financial Institutions, Inc., the parent company of Five Star Bank and Courier Capital, LLC, operates in the banking sector and provides financial services, including banking and capital management. The company focuses on commercial and consumer banking services and is listed on NASDAQ under the ticker FISI.
YTD Price Performance: 1.42%
Average Trading Volume: 111,053
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $526.4M
For detailed information about FISI stock, go to TipRanks’ Stock Analysis page.
