Financial Institutions (NASDAQ:FISI) Full Year 2023 Results
Main financial results
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Revenue: USD 203 million (flat in FY2022).
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Net profit: USD 48.8 million (down 11% from FY2022).
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Profit margin: 24% (down from 28% in FY2022).
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EPS: USD 3.17 (down from USD 3.58 in FY2022).
FISI Banking Performance Index
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Net Interest Margin (NIM): 2.94% (down from 3.20% in FY22).
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Cost-to-income ratio: 63.0% (60.4% in FY2022)
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Non-performing loans: 0.60% (up from 0.26% in FY2022).
All numbers shown in the chart above are for the trailing 12 month (TTM) period.
Financial institutions' profits exceeded expectations, but EPS fell short
Sales exceeded analysts' expectations by 2.2%. Earnings per share (EPS) were 3.6% lower than analysts expected.
Looking ahead, revenues are expected to grow by an average of 5.2% over the next two years, compared to a 5.9% growth forecast for the U.S. banking industry.
performance of American banking industry.
The company's stock price has fallen 4.2% from a week ago.
balance sheet analysis
While earnings are important, another area to consider is the balance sheet.we have Graphical representation of a financial institution's balance sheet and detailed analysis of a company's financial situation.
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