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

Financial Institutions (NASDAQ:FISI) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

A number of other analysts have also recently weighed in on FISI. Stephens reaffirmed an “equal weight” rating and issued a $33.00 price target on shares of Financial Institutions in a research report on Friday, January 31st. Piper Sandler initiated coverage on Financial Institutions in a report on Friday, December 20th. They issued an “overweight” rating and a $33.00 target price for the company. Finally, Keefe, Bruyette & Woods upgraded Financial Institutions from a “market perform” rating to an “outperform” rating and increased their price target for the company from $29.00 to $34.00 in a report on Monday, February 3rd.

Financial Institutions Trading Up 0.2 %

NASDAQ:FISI opened at $27.98 on Tuesday. The company has a market capitalization of $432.85 million, a P/E ratio of -19.30 and a beta of 0.90. The stock’s 50 day moving average price is $27.11 and its 200 day moving average price is $26.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.86. Financial Institutions has a 52 week low of $16.29 and a 52 week high of $29.34.

Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings results on Thursday, January 30th. The bank reported $0.54 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.20). Financial Institutions had a positive return on equity of 11.12% and a negative net margin of 6.69%. On average, research analysts forecast that Financial Institutions will post 3.3 EPS for the current fiscal year.

Insider Activity at Financial Institutions

In related news, Director Robert N. Latella purchased 4,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $100,000.00. Following the transaction, the director now directly owns 16,000 shares of the company’s stock, valued at approximately $400,000. This trade represents a 33.33 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in Financial Institutions in the 3rd quarter valued at approximately $164,000. CWM LLC raised its stake in shares of Financial Institutions by 50.3% in the third quarter. CWM LLC now owns 8,172 shares of the bank’s stock valued at $208,000 after purchasing an additional 2,734 shares in the last quarter. Courier Capital LLC lifted its position in Financial Institutions by 2.4% in the third quarter. Courier Capital LLC now owns 350,239 shares of the bank’s stock worth $8,921,000 after purchasing an additional 8,064 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Financial Institutions by 20.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,732 shares of the bank’s stock worth $375,000 after buying an additional 2,456 shares in the last quarter. Finally, US Bancorp DE increased its holdings in Financial Institutions by 119.3% in the 3rd quarter. US Bancorp DE now owns 2,572 shares of the bank’s stock valued at $66,000 after buying an additional 1,399 shares during the period. Institutional investors and hedge funds own 60.45% of the company’s stock.

Financial Institutions Company Profile

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.