Financial Institutions (NASDAQ:FISI) Investors Are up 19% in the Past Week, but Earnings Have Declined Over the Last Year
Financial Institutions (NASDAQ:FISI) Investors Are up 19% in the Past Week, but Earnings Have Declined Over the Last Year
If you want to compound wealth in the stock market, you can do so by buying an index fund. But one can do better than that by picking better than average stocks (as part of a diversified portfolio). To wit, the Financial Institutions, Inc. (NASDAQ:FISI) share price is 32% higher than it was a year ago, much better than the market return of around 23% (not including dividends) in the same period. So that should have shareholders smiling. In contrast, the longer term returns are negative, since the share price is 22% lower than it was three years ago.
如果您想在股市中增长财富,可以购买指数基金。但如果选择好于平均水平的股票(作为分散投资组合的一部分),那么效果会更好。比如,金融机构股份有限公司(NASDAQ: FISI)股价比去年同期高出32%,远远超过大约23%的市场回报率(不包括股息)。这应该会让股东们感到满意。相比之下,长期回报是负面的,因为股价比三年前下跌了22%。
On the back of a solid 7-day performance, let's check what role the company's fundamentals have played in driving long term shareholder returns.
在稳定的七天表现之后,让我们看看公司的基本面对长期股东回报的影响。
While the efficient markets hypothesis continues to be taught by some, it has been proven that markets are over-reactive dynamic systems, and investors are not always rational. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.
尽管一些人继续教授有效市场假说,但已经证明市场是过度反应的动态系统,并且投资者并不总是理性的。通过比较每股收益(EPS)和股价的变化情况,我们可以了解投资者对公司的态度如何随着时间变化而变化。
During the last year, Financial Institutions actually saw its earnings per share drop 26%.
在过去一年中,金融机构的每股收益实际下降了26%。
So we don't think that investors are paying too much attention to EPS. Since the change in EPS doesn't seem to correlate with the change in share price, it's worth taking a look at other metrics.
因此,我们认为投资者并没有过多关注每股收益。由于每股收益的变化似乎与股价的变化没有关系,所以值得关注其他指标。
We haven't seen Financial Institutions increase dividend payments yet, so the yield probably hasn't helped drive the share higher. Rather, we'd posit that the revenue increase of 3.9% might be more meaningful. After all, it's not necessarily a bad thing if a business sacrifices profits today in pursuit of profit tomorrow (metaphorically speaking).
我们还没有看到金融机构增加股息支付,因此收益可能没有推动股价上涨。相反,我们认为3.9%的营业收入增长可能更有意义。毕竟,为了获得未来的利润(比喻的),一个企业今天牺牲利润并不一定是坏事。
The company's revenue and earnings (over time) are depicted in the image below (click to see the exact numbers).
以下图像显示了公司的营业收入和盈利(随时间变化)(单击以查看准确的数字)。
![big](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240718/0-35f01e67d4040abb700c4f2860ef02d4-0-3e6a46f69abf395fd3dbe8dbbefac80c.png/big)
You can see how its balance sheet has strengthened (or weakened) over time in this free interactive graphic.
你可以在这个免费的互动图表中看到它的资产负债表如何随着时间的推移而加强(或削弱)。
What About Dividends?
那么分红怎么样呢?
It is important to consider the total shareholder return, as well as the share price return, for any given stock. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. In the case of Financial Institutions, it has a TSR of 41% for the last 1 year. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence!
考虑任何给定股票的总股东回报率以及股价回报率都非常重要。TSR包括任何股权分拆或折价融资的价值,以及基于股息再投资的任何股息。因此,对于支付丰厚股息的公司,TSR通常比股价回报要高得多。对于金融机构而言,过去1年的TSR为41%。这超过了我们之前提到的股价回报。毫无疑问,股息支付在很大程度上解释了这种背离!
A Different Perspective
不同的观点
It's good to see that Financial Institutions has rewarded shareholders with a total shareholder return of 41% in the last twelve months. That's including the dividend. Since the one-year TSR is better than the five-year TSR (the latter coming in at 0.6% per year), it would seem that the stock's performance has improved in recent times. Someone with an optimistic perspective could view the recent improvement in TSR as indicating that the business itself is getting better with time. Before forming an opinion on Financial Institutions you might want to consider the cold hard cash it pays as a dividend. This free chart tracks its dividend over time.
很高兴看到金融机构在过去12个月中以总股东回报率41%的收益回报股东。这已包括股息。由于1年的TSR优于5年的TSR(后者每年为0.6%),因此股票的表现似乎在最近有所改善。持乐观态度的人可能认为,TSR的最近改善表明业务本身随着时间的推移正在变得越来越好。在对金融机构形成观点之前,您可能需要考虑它支付的现金作为股息。此免费图表跟踪其随时间变化的股息。
Of course Financial Institutions may not be the best stock to buy. So you may wish to see this free collection of growth stocks.
当然,金融机构可能不是最好的买入股票。因此,您可能希望查看这些成长股票的免费收藏。
Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges.
请注意,本文所引述的市场回报反映了目前在美国交易所上市的股票的市场加权平均回报。
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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.
对本文有反馈?对内容感到担忧?请直接与我们联系。或者,发送电子邮件至editorial-team (at) simplywallst.com。
这篇文章是Simply Wall St的一般性文章。我们根据历史数据和分析师预测提供评论,只使用公正的方法论,我们的文章并不意味着提供任何金融建议。文章不构成买卖任何股票的建议,也不考虑您的目标或您的财务状况。我们的目标是带给您基本数据驱动的长期关注分析。请注意,我们的分析可能不考虑最新的价格敏感公司公告或定性材料。Simply Wall St没有任何股票头寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
对本文有反馈?对内容感到担忧?请直接与我们联系。或者,发送电子邮件至editorial-team@simplywallst.com。