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Financial Institutions Inc (FISI)
NASDAQ:FISI
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Earnings Data
Report Date
Jan 30, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.56Last Year’s EPS
$0.61Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 24, 2024
|% Change Since: 10.76%
|Next Earnings Date:Jan 30, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a balanced sentiment with strong deposit growth, net interest margin expansion, and improved efficiency ratio as highlights. However, these are offset by declines in net income, an increase in nonperforming loans, and higher provisions for credit losses.Company Guidance
During the Financial Institutions, Inc. (FISI) third quarter 2024 earnings call, the leadership team highlighted several key metrics and strategic updates. The company reported third quarter income available to common shareholders of $13.1 million, or $0.84 per diluted share, compared to $25.3 million or $1.62 per share in the previous quarter. The return on average assets was 89 basis points, while the efficiency ratio stood at 55%. Excluding certain items, the adjusted return on average assets for the first nine months was 100 basis points, and the efficiency ratio was 65%. Total deposits increased by $173.3 million or 3.4% from June 30, 2024, while total loans saw a slight decline. The net interest margin on a fully taxable equivalent basis was 289 basis points, up 2 basis points from the previous quarter. The company also provided guidance for the full year 2024, expecting net interest margin to range between 2.85% and 2.9%, with loan growth forecasted at the lower end of 1% to 3%. Additionally, full-year net charge-offs are expected to range between 20 to 30 basis points of average loans.Strong Deposit Growth
Total deposit growth of $173.3 million or 3.4% from June 30, 2024, driven by increases in public and nonpublic deposits.
Net Interest Margin Expansion
Net interest margin increased by 2 basis points to 289 basis points in Q3 2024.
Improved Efficiency Ratio
Efficiency ratio improved to 55% in Q3 2024, reflecting strong expense management.
Reduction in Broker Deposits
Broker deposits decreased by over $313 million year-over-year, reducing reliance on these deposits.
Capital Ratio Improvement
Common equity Tier 1 ratio increased to 10.28%, up 85 basis points from year-end 2023.
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FISI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FISI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 24, 2024 | $24.72 | $23.76 | -3.88% |
| Jul 25, 2024 | $24.08 | $25.22 | +4.73% |
| Apr 25, 2024 | $16.74 | $16.91 | +1.02% |
| Jan 25, 2024 | $21.75 | $20.12 | -7.49% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Financial Institutions Inc (FISI) report earnings?
Financial Institutions Inc (FISI) is schdueled to report earning on Jan 30, 2025, TBA Not Confirmed.
What is Financial Institutions Inc (FISI) earnings time?
Financial Institutions Inc (FISI) earnings time is at Jan 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FISI EPS forecast?
FISI EPS forecast for the fiscal quarter 2024 (Q4) is $0.56.
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