Stock Analysis
- United States
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- NasdaqGS:FISI
Financial Institutions Second Quarter 2024 Earnings: Beats Expectations
Financial Institutions (NASDAQ:FISI) Second Quarter 2024 Results
Key Financial Results
- Revenue: US$63.2m (up 25% from 2Q 2023).
- Net income: US$25.3m (up 80% from 2Q 2023).
- Profit margin: 40% (up from 28% in 2Q 2023). The increase in margin was driven by higher revenue.
- EPS: US$1.64 (up from US$0.91 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Financial Institutions Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 32%. Earnings per share (EPS) also surpassed analyst estimates by 26%.
Looking ahead, revenue is forecast to stay flat during the next 2 years compared to a 6.3% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are up 17% from a week ago.
Risk Analysis
You still need to take note of risks, for example - Financial Institutions has 1 warning sign we think you should be aware of.
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About NasdaqGS:FISI
Financial Institutions
Operates as a holding company for the Five Star Bank, a chartered bank that provides banking and financial services to individuals, municipalities, and businesses in New York.
Flawless balance sheet, undervalued and pays a dividend.