From Nasdaq, Inc.:

Financial services conglomerate Financial Institutions (NASDAQ: FISI) saw its stock plunge by almost 8% following the release of its latest quarterly results, with revenue up but net income down. Total loans stood at nearly $5.5 billion, slightly higher than the previous year, while total deposits were over $103 million lower. Last month, the company enacted changes to its top management structure and saved around $6 million in annual noninterest expenses. The changes should kick in this year. It did not offer any guidance for the current quarter or 2024, but it believes its recent moves better position it for success.

Should you invest $1,000 in Financial Institutions right now? The Motley Fool Stock Advisor analyst team identified the 10 best stocks for investors to buy now, and Financial Institutions was not one of them. After news reports, Eric Volkman and The Motley Fool have no positions in any of the stocks mentioned.



Read more: Why Financial Institutions Stock Flopped on Friday