FISI
FINANCIAL INSTITUTIONS INC
Next earnings Jul 22, 2026 · consensus $0.95 EPS, $59.2M rev
Last earnings -0.1% on 2026-04-23
$38.93
▲ +0.59%$38.93▲ +59.98%
over 1Y
L $23.72EODHDH $38.93
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+0.6%
1W+2.7%
1M+9.3%
3M+27.1%
YTD+28.7%
1Y+60.0%
Buy
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 8 analysts
Buy
Small-cap NY community bank past its 2024 AFS restructuring scar, now earning $3.61 EPS at 10.7x P/E with improving credit and active buyback.
Diluted EPS $3.61 · FY2025
The read
Quality fundamentals and an attractive price line up (~252% below fair value) — the rarer case where both the business and the entry look good.
FISI is a clean recovery story masquerading as a sleepy upstate New York community bank. The 2024 net loss of $41.6M was not an operating failure — the MD&A is explicit that it stemmed from a strategic restructuring where management sold $653.5M of available-for-sale securities at a $100.2M pre-tax loss (~$75M after tax), funded by a December 2024 common stock offering. With that drag washed out, FY2025 net income snapped back to $74.9M ($3.61 diluted EPS), delivering a 1.20% ROA and 12.38% ROE per management's own scorecard. At $38.71, the stock trades at just 10.7x trailing EPS — a meaningful discount to typical community-bank multiples for a franchise now earning a double-digit ROE.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $77.7M | $56.6M | $50.3M | -$41.6M | $74.9M |
| Diluted EPS | $4.78 | $3.56 | $3.15 | -$2.75 | $3.61 |
| Net margin | — | — | — | — | — |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF57.7
PEG (trailing)0.04
Earnings yield9.8%
FCF yield1.7%
Quality & risk
ROIC (est.)—
Free cash flow$13.3M
Total debt$303M
Net cash-$194M
Piotroski F-Score4/6
Capital returns
Buyback yield1.5%
Dividend yield (est.)3.2%
Shareholder yield4.7%
Shares Δ YoY-2.2%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Shareholder vote2026-05-21
Annual meeting vote results disclosed; routine governance items ratified by holders.
- 8-K Reg FD disclosure2026-05-20
Reg FD disclosure with exhibit, likely investor presentation; no material new financials.
- 10-Q Quarterly report2026-05-04
Q1 2026 10-Q follows AFS-restructuring tailwind; credit metrics and NIM trends improving.
- 8-K Earnings results2026-04-23
Q1 2026 earnings release furnished; continues post-restructuring earnings momentum.
- DEF 14A Proxy statement2026-04-06
2026 proxy statement: routine director slate, exec comp and auditor ratification.
- 8-K Officer / director change2026-03-10
Officer/director change disclosed under Item 5.02; leadership transition only.
- 10-K Annual report2026-03-09
FY25 NI $74.9M, NPLs down to 0.77%, $80M sub notes issued, 5% buyback authorized.
- 8-K Reg FD disclosure2026-02-12
Reg FD disclosure with exhibit; routine investor communication, no new financials.
- 8-K Earnings results2026-01-29
Q4/FY25 earnings: $74.9M NI vs $41.6M loss prior year, EPS $3.61, strong rebound.
Recent filings
all on EDGAR ↗11-KPeriod ending 2025-12-312026-06-18open ↗4Period ending 2026-05-202026-05-21open ↗4Period ending 2026-05-202026-05-21open ↗4Period ending 2026-05-202026-05-21open ↗4Period ending 2026-05-202026-05-21open ↗4Period ending 2026-05-202026-05-21open ↗4Period ending 2026-05-202026-05-21open ↗4Period ending 2026-05-202026-05-21open ↗4Period ending 2026-05-202026-05-21open ↗4Period ending 2026-05-202026-05-21open ↗4Period ending 2026-05-202026-05-21open ↗4Period ending 2026-05-202026-05-21open ↗
Frequently asked
- Is FINANCIAL INSTITUTIONS INC (FISI) a buy?
- FISI currently carries a Buy rating with 4/5 conviction, derived from its latest SEC filings. Small-cap NY community bank past its 2024 AFS restructuring scar, now earning $3.61 EPS at 10.7x P/E with improving credit and active buyback.
- What is FISI's fair value?
- A Modified-Graham model based on FISI's SEC fundamentals estimates a fair value of about $137.18. It is an estimate from reported earnings, not a price target.
- Is FISI overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, FISI currently appears undervalued relative to its SEC-grounded earnings power.
- What is FINANCIAL INSTITUTIONS INC's quality score?
- FISI scores 80.76470588235294/100 (grade A-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000862831, latest 10-Q filed 2026-05-04) · EODHD · analysis by claude-code · as of 6/25/2026, 3:06:53 PM.
Research and education only — not financial advice. EDGAR is not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities EDGAR rates; see Disclosures. Past performance does not guarantee future results. Do your own research.