Financial Institutions (FISI) Cut to “Hold” at BidaskClub

BidaskClub cut shares of Financial Institutions (NASDAQ:FISI) from a buy rating to a hold rating in a research note released on Friday morning.

Several other research firms have also issued reports on FISI. ValuEngine upgraded Financial Institutions from a hold rating to a buy rating in a report on Wednesday, April 11th. Hovde Group reiterated a buy rating and set a $36.00 target price on shares of Financial Institutions in a report on Friday, February 2nd. Zacks Investment Research lowered Financial Institutions from a buy rating to a hold rating in a report on Thursday. Finally, Keefe, Bruyette & Woods lowered Financial Institutions to a market perform rating and set a $35.00 target price on the stock. in a report on Thursday, March 15th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $34.38.

Shares of Financial Institutions opened at $32.40 on Friday, Marketbeat.com reports. The stock has a market capitalization of $515.34 million, a PE ratio of 16.36 and a beta of 1.15. Financial Institutions has a one year low of $25.65 and a one year high of $34.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.78 and a current ratio of 0.78.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings results on Thursday, April 26th. The bank reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Financial Institutions had a net margin of 20.41% and a return on equity of 9.10%. The firm had revenue of $38.61 million during the quarter. analysts predict that Financial Institutions will post 2.4 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in Financial Institutions by 5.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,189,916 shares of the bank’s stock worth $35,222,000 after acquiring an additional 63,526 shares in the last quarter. BlackRock Inc. raised its holdings in Financial Institutions by 5.0% during the first quarter. BlackRock Inc. now owns 1,170,659 shares of the bank’s stock worth $34,652,000 after acquiring an additional 55,557 shares in the last quarter. LSV Asset Management raised its holdings in Financial Institutions by 12.5% during the first quarter. LSV Asset Management now owns 436,878 shares of the bank’s stock worth $12,931,000 after acquiring an additional 48,591 shares in the last quarter. Prudential Financial Inc. raised its stake in Financial Institutions by 1.9% in the first quarter. Prudential Financial Inc. now owns 307,054 shares of the bank’s stock valued at $9,089,000 after buying an additional 5,700 shares during the period. Finally, Northern Trust Corp raised its stake in Financial Institutions by 2.1% in the first quarter. Northern Trust Corp now owns 291,615 shares of the bank’s stock valued at $8,632,000 after buying an additional 5,883 shares during the period. Institutional investors and hedge funds own 70.19% of the company’s stock.

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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