FISI Financial Services

Financial Institutions, Inc.

$39.35-1.99%

Price as of close on Nov 3, 2026 · Financials updated Nov 4, 2026

Basics

Sector: Financial Services
Industry: Banks - Regional
Country: United States
Market cap: 768.2M USD
Full-time employees: 631

Overall health

Strength: more profitable than most peersmore profitable than peers
Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings

Ranks #69 of 791 banks & insurance companies (top 9%)

Based on 3 categories: banks and insurers are not rated on risk.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Worth knowing

Stock pay is large next to buybacks. Stock-based pay expense $6M vs $12M spent repurchasing shares over the 3 fiscal years to 2025.
Over three fiscal years Financial Institutions recorded $6M of stock-based pay expense and spent $12M repurchasing shares (repurchases can include shares withheld to cover employees' taxes).Over three fiscal years Financial Institutions recorded $6M of stock-based pay expense and spent $12M repurchasing shares.
Earnings turned from a loss to a profit. Profit per share this year after a loss last year.
Financial Institutions made a profit per share in its latest year after a loss the year before.
Fast revenue growth. Revenue grew 113% in the fiscal year to Dec 2025 vs the year before, faster than 95% of peers.
Revenue grew 113% in the fiscal year to Dec 2025 vs the year before, faster than 95% of its peers.

StockQuotient Score

73/ 100

Oct 5 74 → Nov 4 73 (-1)

Valuation

Is the price right?

69/100

Moderate

2/2 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Stronger than most peers on:

▲ Earnings yield

Compare with peers

Behind the score

Earnings yield (P/E) and book yield (P/B) versus other banks and insurers.

Book yield81.3%

SEC filings · latest balance sheetReported value40% base weight · Z-score 0.06Sector median: 0.7950 · MAD: 0.2843

Earnings yield10.4%

SEC filings · 12 months to Jun 2026Reported value60% base weight · Z-score 1.01Sector median: 0.0789 · MAD: 0.0253

Other data (not scored)

EBITDA yieldUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: 0.1095 · MAD: 0.0527

Free cash flow yield7.1%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported valueInformational · 0% composite weightSector median: 0.0796 · MAD: 0.0459

Growth

Is it growing?

89/100

Strong

1/1 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ EPS growth

Compare with peers

Behind the score

Earnings-per-share growth versus other banks and insurers.

Earnings per share growthUnavailable

Earnings per share turned from a loss to a profit100% base weight · Z-score 3.65Sector median: 0.1599 · MAD: 0.1775

Other data (not scored)

3-year revenue growth4.7%

Yahoo Finance fallback · SEC figure unavailable or out of date · 3 fiscal years to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.0826 · MAD: 0.0558

Revenue growth112.6%

Yahoo Finance fallback · SEC figure unavailable or out of date · fiscal year to Dec 2025Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0866 · MAD: 0.0782

Profitability

Does it earn well?

60/100

Moderate

2/2 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROE

Compare with peers

Behind the score

Return on equity and return on assets versus other banks and insurers.

Return on assets1.3%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 0.21Sector median: 0.0117 · MAD: 0.0062

Return on equity12.8%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 0.54Sector median: 0.1074 · MAD: 0.0388

Other data (not scored)

Gross marginUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Operating marginUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: 0.1450 · MAD: 0.1678

Return on invested capitalUnavailable

Missing · left out of the scoreInformational · 0% composite weightSector median: Unavailable · MAD: Unavailable

Risk

Debt, liquidity, price swings

Not rated

Not rated for banks and insurers: debt and share-price swings say little about their risk. We leave it blank rather than fill the gap with a made-up middle value.

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Financial Institutions

Is Financial Institutions getting weaker?: Its latest SEC filing (Aug 3, 2026) showed no major changes. Its overall score is unchanged at 73/100 since Oct 28, 2026.
How is Financial Institutions valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 69/100 against 950 banks & insurance peers. Earnings yield 10.4% vs a peer median of 7.9% (stronger than 74% of peers).Earnings yield 10.4% vs peers 7.9% (stronger than 74% of peers).
Is Financial Institutions growing?: Yes, faster than most of its peers. Growth scores 89/100 against 950 banks & insurance peers.
How profitable is Financial Institutions?: More profitable than most of its peers. Profitability scores 60/100 against 950 banks & insurance peers. Return on equity 12.8% vs a peer median of 10.7% (stronger than 64% of peers).Return on equity 12.8% vs peers 10.7% (stronger than 64% of peers).
How risky is Financial Institutions?: Not rated for banks and insurers: debt and share-price swings say little about their risk.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 3, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Net income (12 months)	79.0M USD	82.6M USD	+4.6%
Free cash flow (12 months)	27.1M USD	56.2M USD	+107.5%
Debt	192.6M USD	260.7M USD	+35.3%
Cash	85.5M USD	99.2M USD	+16.1%
Shares outstanding	19.7M	19.7M	+0.1%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Banks - Regional · 119 companies

Valuations in Banks - Regional are within their usual range since 2016.

45% of months since 2016 were valued lower than now.
14% of companies are in the most expensive fifth of their own price-to-book history.
Over 24 months, company values +29% and earnings +32% (medians): prices and earnings moved broadly together.
Median price-to-book is −61% vs the whole market, against a usual −59%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Return on assets (ROA)	1.4%	1.0%	0.8%	-0.7%	1.2%	▲ 1.9 pts
Return on equity (ROE)	15.4%	13.9%	11.1%	-7.3%	11.9%	▲ 19 pts
Debt to equity	0.21×	0.69×	0.68×	0.39×	0.48×	▲ 22%

FISI price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: more profitable than most peersmore profitable than peers

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings

Ranks #69 of 791 banks & insurance companies (top 9%)

Based on 3 categories: banks and insurers are not rated on risk.

Scored as a bank or insurer: cash-flow, EBITDA, gross margin and current ratio aren’t scored; they are under “Other data”.

See how it ranks against its peers

Worth knowing

Stock pay is large next to buybacks. Stock-based pay expense $6M vs $12M spent repurchasing shares over the 3 fiscal years to 2025.

Over three fiscal years Financial Institutions recorded $6M of stock-based pay expense and spent $12M repurchasing shares (repurchases can include shares withheld to cover employees' taxes).Over three fiscal years Financial Institutions recorded $6M of stock-based pay expense and spent $12M repurchasing shares.

Earnings turned from a loss to a profit. Profit per share this year after a loss last year.

Financial Institutions made a profit per share in its latest year after a loss the year before.

Fast revenue growth. Revenue grew 113% in the fiscal year to Dec 2025 vs the year before, faster than 95% of peers.

Revenue grew 113% in the fiscal year to Dec 2025 vs the year before, faster than 95% of its peers.

Questions investors ask about Financial Institutions

Is Financial Institutions getting weaker?

Its latest SEC filing (Aug 3, 2026) showed no major changes. Its overall score is unchanged at 73/100 since Oct 28, 2026.

How is Financial Institutions valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 69/100 against 950 banks & insurance peers. Earnings yield 10.4% vs a peer median of 7.9% (stronger than 74% of peers).Earnings yield 10.4% vs peers 7.9% (stronger than 74% of peers).

Is Financial Institutions growing?

Yes, faster than most of its peers. Growth scores 89/100 against 950 banks & insurance peers.

How profitable is Financial Institutions?

More profitable than most of its peers. Profitability scores 60/100 against 950 banks & insurance peers. Return on equity 12.8% vs a peer median of 10.7% (stronger than 64% of peers).Return on equity 12.8% vs peers 10.7% (stronger than 64% of peers).

How risky is Financial Institutions?

Not rated for banks and insurers: debt and share-price swings say little about their risk.

Previous quarter

Latest quarter

Change

Net income (12 months)

79.0M USD

82.6M USD

+4.6%

Free cash flow (12 months)

27.1M USD

56.2M USD

+107.5%

Debt

192.6M USD

260.7M USD

+35.3%

Cash

85.5M USD

99.2M USD

+16.1%

Shares outstanding

19.7M

19.7M

+0.1%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Return on assets (ROA)

1.4%

1.0%

0.8%

-0.7%

1.2%

▲ 1.9 pts

Return on equity (ROE)

15.4%

13.9%

11.1%

-7.3%

11.9%

▲ 19 pts

Debt to equity

0.21×

0.69×

0.68×

0.39×

0.48×

▲ 22%