Shares of Financial Institutions, Inc. (NASDAQ:FISI) have earned a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating. Financial Institutions’ rating score has declined by 50% in the last three months as a result of various analysts’ ratings changes.
Brokerages have set a twelve-month consensus price target of $33.00 for the company and are predicting that the company will post $0.55 earnings per share for the current quarter, according to Zacks. Zacks has also given Financial Institutions an industry rank of 173 out of 265 based on the ratings given to related companies.
A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods lowered Financial Institutions to a “market perform” rating and set a $35.00 price target on the stock. in a research note on Thursday, March 15th. BidaskClub lowered Financial Institutions from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. ValuEngine downgraded Financial Institutions from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. Finally, Hovde Group restated a “buy” rating and set a $36.00 price objective on shares of Financial Institutions in a report on Friday, February 2nd.
In other Financial Institutions news, Director Andrew W. Dorn, Jr. bought 1,557 shares of the stock in a transaction dated Thursday, February 1st. The stock was bought at an average cost of $30.95 per share, for a total transaction of $48,189.15. Following the completion of the purchase, the director now directly owns 16,999 shares of the company’s stock, valued at $526,119.05. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.49% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of FISI. Sterling Capital Management LLC lifted its holdings in Financial Institutions by 14.5% in the fourth quarter. Sterling Capital Management LLC now owns 27,625 shares of the bank’s stock worth $859,000 after acquiring an additional 3,494 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of Financial Institutions in the fourth quarter valued at approximately $201,000. Millennium Management LLC increased its stake in shares of Financial Institutions by 2.5% in the fourth quarter. Millennium Management LLC now owns 263,431 shares of the bank’s stock valued at $8,193,000 after purchasing an additional 6,494 shares during the period. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Financial Institutions by 15.8% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 65,995 shares of the bank’s stock valued at $2,052,000 after purchasing an additional 9,000 shares during the period. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Financial Institutions by 43.1% in the fourth quarter. TIAA CREF Investment Management LLC now owns 60,821 shares of the bank’s stock valued at $1,892,000 after purchasing an additional 18,320 shares during the period. 69.75% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ FISI traded down $0.30 on Tuesday, hitting $30.30. 41,723 shares of the company’s stock were exchanged, compared to its average volume of 44,386. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.11. Financial Institutions has a fifty-two week low of $25.65 and a fifty-two week high of $35.35. The stock has a market capitalization of $481.89, a price-to-earnings ratio of 15.62 and a beta of 1.15.
Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings results on Monday, January 29th. The bank reported $0.50 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. Financial Institutions had a return on equity of 9.07% and a net margin of 20.34%. The business had revenue of $38.75 million for the quarter. equities analysts forecast that Financial Institutions will post 2.34 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th were paid a dividend of $0.24 per share. The ex-dividend date was Wednesday, March 14th. This is an increase from Financial Institutions’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 3.17%. Financial Institutions’s dividend payout ratio (DPR) is currently 49.48%.
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Financial Institutions Company Profile
Financial Institutions, Inc operates as the holding company for Five Star Bank that provides banking and financial services to individuals, municipalities, and businesses. It operates in two segments, Banking and Non-Banking. The company offers checking and savings account programs, including money market accounts, certificates of deposit, and sweep investments, as well as individual retirement and other qualified plan accounts.
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