BidaskClub Upgrades Financial Institutions (NASDAQ:FISI) to Hold

BidaskClub upgraded shares of Financial Institutions (NASDAQ:FISI) from a sell rating to a hold rating in a research note published on Tuesday morning, BidAskClub reports.

Separately, ValuEngine upgraded shares of Financial Institutions from a sell rating to a hold rating in a report on Friday, February 15th.

NASDAQ:FISI opened at $27.54 on Tuesday. Financial Institutions has a 52-week low of $24.49 and a 52-week high of $34.35. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.10. The stock has a market cap of $440.09 million, a PE ratio of 10.72 and a beta of 0.85.

Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings data on Tuesday, April 30th. The bank reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.09. Financial Institutions had a net margin of 21.36% and a return on equity of 11.79%. The company had revenue of $40.91 million for the quarter, compared to the consensus estimate of $41.20 million. On average, research analysts expect that Financial Institutions will post 2.76 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Friday, June 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.00 annualized dividend and a dividend yield of 3.63%. Financial Institutions’s payout ratio is 38.91%.

In other Financial Institutions news, insider Joseph L. Dugan bought 10,600 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average price of $28.45 per share, with a total value of $301,570.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Martin Kearney Birmingham bought 1,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average cost of $28.33 per share, for a total transaction of $28,330.00. Following the purchase, the chief executive officer now owns 78,454 shares of the company’s stock, valued at $2,222,601.82. The disclosure for this purchase can be found here. Insiders own 4.34% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc increased its stake in Financial Institutions by 20.5% in the fourth quarter. Legal & General Group Plc now owns 2,788 shares of the bank’s stock valued at $71,000 after acquiring an additional 474 shares during the period. BNP Paribas Arbitrage SA increased its stake in Financial Institutions by 382.1% in the first quarter. BNP Paribas Arbitrage SA now owns 3,206 shares of the bank’s stock valued at $87,000 after acquiring an additional 2,541 shares during the period. SG Americas Securities LLC bought a new stake in Financial Institutions in the first quarter valued at about $119,000. Citigroup Inc. increased its stake in Financial Institutions by 16.5% in the fourth quarter. Citigroup Inc. now owns 5,010 shares of the bank’s stock valued at $128,000 after acquiring an additional 710 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its stake in Financial Institutions by 292.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,570 shares of the bank’s stock valued at $143,000 after acquiring an additional 4,150 shares during the period. 70.93% of the stock is currently owned by institutional investors and hedge funds.

About Financial Institutions

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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