Financial Institutions’ (FISI) Equal Weight Rating Reiterated at Stephens

Stephens reiterated their equal weight rating on shares of Financial Institutions (NASDAQ:FISI) in a research report sent to investors on Friday morning,Benzinga reports. They currently have a $33.00 price target on the bank’s stock.

A number of other analysts have also recently issued reports on the company. Keefe, Bruyette & Woods upped their target price on Financial Institutions from $27.00 to $28.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler started coverage on Financial Institutions in a report on Friday, December 20th. They issued an “overweight” rating and a $33.00 price target for the company. Finally, StockNews.com downgraded Financial Institutions from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th.

Financial Institutions Trading Down 2.9 %

Shares of NASDAQ FISI opened at $26.37 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $407.94 million, a PE ratio of 8.29 and a beta of 0.91. The stock has a fifty day simple moving average of $27.07 and a 200-day simple moving average of $25.83. Financial Institutions has a twelve month low of $16.29 and a twelve month high of $29.34.

Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings data on Thursday, January 30th. The bank reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.20). Financial Institutions had a net margin of 13.72% and a return on equity of 11.32%. On average, equities analysts forecast that Financial Institutions will post 3.31 earnings per share for the current year.

Financial Institutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.20 annualized dividend and a yield of 4.55%. Financial Institutions’s dividend payout ratio (DPR) is presently 37.74%.

Insider Activity

In other Financial Institutions news, Director Robert N. Latella acquired 4,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $100,000.00. Following the completion of the purchase, the director now directly owns 16,000 shares in the company, valued at $400,000. This represents a 33.33 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.68% of the company’s stock.

Institutional Trading of Financial Institutions

A number of institutional investors have recently added to or reduced their stakes in FISI. Charles Schwab Investment Management Inc. grew its stake in Financial Institutions by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 124,428 shares of the bank’s stock valued at $3,169,000 after purchasing an additional 417 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Financial Institutions by 14.9% during the 4th quarter. SG Americas Securities LLC now owns 7,418 shares of the bank’s stock worth $202,000 after purchasing an additional 964 shares during the period. R Squared Ltd acquired a new stake in shares of Financial Institutions in the 4th quarter worth about $30,000. Jacobs Levy Equity Management Inc. increased its position in Financial Institutions by 1.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 59,725 shares of the bank’s stock valued at $1,521,000 after acquiring an additional 1,137 shares during the period. Finally, US Bancorp DE raised its position in shares of Financial Institutions by 119.3% during the 3rd quarter. US Bancorp DE now owns 2,572 shares of the bank’s stock worth $66,000 after buying an additional 1,399 shares in the last quarter. 60.45% of the stock is owned by hedge funds and other institutional investors.

About Financial Institutions

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.