Financial Institutions (NASDAQ:FISI) Downgraded by StockNews.com to Hold

by · The Markets Daily

StockNews.com lowered shares of Financial Institutions (NASDAQ:FISI – Free Report) from a buy rating to a hold rating in a report issued on Wednesday.

Separately, Keefe, Bruyette & Woods reaffirmed a market perform rating and issued a $25.00 target price (up previously from $20.00) on shares of Financial Institutions in a report on Monday, July 29th.

Get Our Latest Report on FISI

Financial Institutions Trading Up 1.5 %

Shares of Financial Institutions stock opened at $24.77 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.28. Financial Institutions has a 12-month low of $15.22 and a 12-month high of $27.75. The company has a market capitalization of $382.62 million, a price-to-earnings ratio of 9.87 and a beta of 0.89. The firm’s 50-day moving average price is $24.93 and its two-hundred day moving average price is $20.78.

Financial Institutions (NASDAQ:FISI – Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.92. The business had revenue of $102.80 million for the quarter. Financial Institutions had a net margin of 13.95% and a return on equity of 12.06%. During the same quarter in the prior year, the business posted $0.91 EPS. On average, analysts forecast that Financial Institutions will post 3.64 earnings per share for the current fiscal year.

Financial Institutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Friday, September 13th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.84%. Financial Institutions’s payout ratio is currently 47.81%.

Hedge Funds Weigh In On Financial Institutions

A number of institutional investors have recently added to or reduced their stakes in FISI. Innealta Capital LLC acquired a new stake in Financial Institutions in the second quarter valued at approximately $25,000. Lazard Asset Management LLC bought a new position in shares of Financial Institutions in the 1st quarter valued at $98,000. CWM LLC lifted its stake in shares of Financial Institutions by 150.4% in the 2nd quarter. CWM LLC now owns 5,438 shares of the bank’s stock valued at $105,000 after acquiring an additional 3,266 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Financial Institutions during the 3rd quarter valued at $164,000. Finally, Allspring Global Investments Holdings LLC grew its position in Financial Institutions by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,811 shares of the bank’s stock worth $166,000 after acquiring an additional 742 shares during the last quarter. 60.45% of the stock is currently owned by institutional investors and hedge funds.

Financial Institutions Company Profile

(Get Free Report)

Financial Institutions, Inc operates as a holding company for the Five Star Bank, a chartered bank that provides banking and financial services to individuals, municipalities, and businesses in New York. The company provides checking and savings account programs, including money market accounts, certificates of deposit, sweep investments, and individual retirement and other qualified plan accounts, as well as NOW accounts.

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