Northern Trust Corp raised its stake in shares of Financial Institutions, Inc. (NASDAQ:FISI) by 4.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 304,931 shares of the bank’s stock after purchasing an additional 13,316 shares during the period. Northern Trust Corp owned 1.91% of Financial Institutions worth $10,033,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in FISI. State Board of Administration of Florida Retirement System bought a new stake in Financial Institutions during the second quarter valued at about $210,000. Raymond James & Associates bought a new stake in Financial Institutions during the second quarter valued at about $307,000. LPL Financial LLC bought a new stake in Financial Institutions during the first quarter valued at about $311,000. Putnam Investments LLC bought a new stake in Financial Institutions during the second quarter valued at about $337,000. Finally, Bessemer Group Inc. grew its holdings in Financial Institutions by 343.3% during the second quarter. Bessemer Group Inc. now owns 13,300 shares of the bank’s stock valued at $438,000 after purchasing an additional 10,300 shares during the period. 70.75% of the stock is owned by institutional investors and hedge funds.
Several analysts have issued reports on the company. BidaskClub lowered Financial Institutions from a “hold” rating to a “sell” rating in a report on Saturday, September 1st. Zacks Investment Research raised Financial Institutions from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Thursday, August 2nd. Finally, ValuEngine lowered Financial Institutions from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $35.33.
NASDAQ FISI opened at $29.13 on Friday. The stock has a market capitalization of $471.70 million, a PE ratio of 12.14 and a beta of 0.93. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.79. Financial Institutions, Inc. has a twelve month low of $26.48 and a twelve month high of $34.35.
Financial Institutions (NASDAQ:FISI) last released its quarterly earnings data on Thursday, October 25th. The bank reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The firm had revenue of $40.72 million during the quarter, compared to analyst estimates of $39.20 million. Financial Institutions had a return on equity of 10.93% and a net margin of 23.61%. Equities research analysts predict that Financial Institutions, Inc. will post 2.57 earnings per share for the current fiscal year.
In other Financial Institutions news, CEO Martin Kearney Birmingham acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, October 30th. The stock was purchased at an average price of $28.44 per share, with a total value of $56,880.00. Following the completion of the purchase, the chief executive officer now directly owns 74,596 shares in the company, valued at approximately $2,121,510.24. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders bought 3,845 shares of company stock valued at $114,655. Corporate insiders own 4.34% of the company’s stock.
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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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