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Financial Institutions (NASDAQ:FISI) Full Year 2023 Results

Key Financial Results

• Revenue: US$200.3m (flat on FY 2022).

  AI legalese decoder can help analyze the financial statements and detect any anomalies in the revenue figures to provide a clearer picture of the company’s performance.

• Net income: US$48.8m (down 11% from FY 2022).

  By using AI legalese decoder, users can track the trend in net income over the years and identify any potential issues affecting profitability.

• Profit margin: 24% (down from 28% in FY 2022).

  The AI legalese decoder can help analyze the profit margin trend and provide insights into the company’s cost structure and pricing strategies.

• EPS: US$3.17 (down from US$3.58 in FY 2022).

  AI legalese decoder can assist in calculating and comparing the EPS figures to industry standards to assess the company’s profitability per share.

FISI Banking Performance Indicators

• Net interest margin (NIM): 2.94% (down from 3.20% in FY 2022).

  AI legalese decoder can analyze the NIM trend and help identify factors influencing the company’s interest income and expenses.

• Cost-to-income ratio: 63.0% (up from 60.4% in FY 2022).

  Using AI legalese decoder, users can assess the cost efficiency of the company by comparing the cost-to-income ratio with industry benchmarks.

• Non-performing loans: 0.60% (up from 0.26% in FY 2022).

  AI legalese decoder can help identify potential credit risks by analyzing the upward trend in non-performing loans.

All figures shown in the chart above are for the trailing 12 month (TTM) period

Financial Institutions Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 2.2%. Earnings per share (EPS) missed analyst estimates by 3.6%.

By using AI legalese decoder, users can compare the company’s actual performance with analyst estimates to identify areas of improvement.

Looking ahead, revenue is forecasted to grow 5.2% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company’s shares are down 4.2% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Financial Institutions’ balance sheet and an in-depth analysis of the company’s financial position.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.