Zacks: Analysts Set $34.50 Target Price for Financial Institutions, Inc. (FISI)

Shares of Financial Institutions, Inc. (NASDAQ:FISI) have received an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.

Brokers have set a 12-month consensus target price of $34.50 for the company and are expecting that the company will post $0.50 earnings per share for the current quarter, according to Zacks. Zacks has also given Financial Institutions an industry rank of 164 out of 265 based on the ratings given to its competitors.

FISI has been the subject of several analyst reports. Keefe, Bruyette & Woods restated a “hold” rating and issued a $33.00 target price on shares of Financial Institutions in a research note on Thursday, October 26th. ValuEngine downgraded shares of Financial Institutions from a “buy” rating to a “hold” rating in a research note on Thursday, September 7th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $31.50 target price on shares of Financial Institutions in a research note on Wednesday, October 4th.

In other news, CEO Martin Kearney Birmingham bought 1,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was acquired at an average cost of $31.65 per share, for a total transaction of $31,650.00. Following the completion of the purchase, the chief executive officer now owns 82,916 shares of the company’s stock, valued at $2,624,291.40. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph L. Dugan bought 930 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was purchased at an average price of $32.15 per share, with a total value of $29,899.50. The disclosure for this purchase can be found here. Insiders bought 3,349 shares of company stock valued at $107,195 over the last 90 days. Insiders own 5.49% of the company’s stock.

Several hedge funds have recently made changes to their positions in FISI. Vanguard Group Inc. boosted its stake in Financial Institutions by 10.1% during the 1st quarter. Vanguard Group Inc. now owns 584,353 shares of the bank’s stock valued at $19,255,000 after acquiring an additional 53,552 shares during the last quarter. Context BH Capital Management LP boosted its stake in Financial Institutions by 67.2% during the 3rd quarter. Context BH Capital Management LP now owns 47,458 shares of the bank’s stock valued at $1,367,000 after acquiring an additional 19,080 shares during the last quarter. Aperio Group LLC boosted its stake in Financial Institutions by 48.6% during the 2nd quarter. Aperio Group LLC now owns 12,127 shares of the bank’s stock valued at $361,000 after acquiring an additional 3,964 shares during the last quarter. Ameriprise Financial Inc. bought a new position in Financial Institutions during the 2nd quarter valued at $379,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in Financial Institutions by 53.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 125,064 shares of the bank’s stock valued at $3,727,000 after acquiring an additional 43,526 shares during the last quarter. Institutional investors and hedge funds own 69.25% of the company’s stock.

Financial Institutions (NASDAQ:FISI) traded down $0.15 during trading on Friday, hitting $32.65. Financial Institutions has a 1-year low of $25.65 and a 1-year high of $35.40. The stock has a market capitalization of $493.94, a price-to-earnings ratio of 16.32 and a beta of 1.24. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings data on Tuesday, October 24th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. Financial Institutions had a net margin of 19.46% and a return on equity of 9.66%. The company had revenue of $37.01 million during the quarter. sell-side analysts predict that Financial Institutions will post 1.94 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Thursday, December 14th will be paid a $0.22 dividend. The ex-dividend date is Wednesday, December 13th. This is an increase from Financial Institutions’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 2.70%. Financial Institutions’s dividend payout ratio is 41.79%.

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Financial Institutions Company Profile

Financial Institutions, Inc is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank; Scott Danahy Naylon, LLC (SDN), a full service insurance agency, and Courier Capital, LLC (Courier Capital), an investment advisory and wealth management company.

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