Financial Institutions (NASDAQ:FISI – Get Free Report) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
Separately, Keefe, Bruyette & Woods boosted their price objective on Financial Institutions from $27.00 to $28.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.
Check Out Our Latest Stock Analysis on FISI
Financial Institutions Stock Down 1.6 %
FISI opened at $28.45 on Wednesday. The firm has a market cap of $440.24 million, a P/E ratio of 8.95 and a beta of 0.92. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.86. The business has a 50 day moving average price of $26.31 and a 200 day moving average price of $23.82. Financial Institutions has a twelve month low of $16.29 and a twelve month high of $29.34.
Financial Institutions (NASDAQ:FISI – Get Free Report) last posted its earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The business had revenue of $50.12 million for the quarter. Financial Institutions had a net margin of 13.72% and a return on equity of 11.32%. During the same quarter in the previous year, the business posted $0.88 earnings per share. Research analysts forecast that Financial Institutions will post 3.66 EPS for the current year.
Insider Activity
In other Financial Institutions news, Director Robert N. Latella purchased 4,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average cost of $25.00 per share, with a total value of $100,000.00. Following the completion of the acquisition, the director now directly owns 16,000 shares of the company’s stock, valued at $400,000. This represents a 33.33 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.68% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Financial Institutions
Large investors have recently modified their holdings of the business. PL Capital Advisors LLC grew its holdings in shares of Financial Institutions by 408.0% during the third quarter. PL Capital Advisors LLC now owns 1,771,516 shares of the bank’s stock worth $45,121,000 after buying an additional 1,422,765 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Financial Institutions by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 354,685 shares of the bank’s stock worth $9,036,000 after acquiring an additional 7,045 shares in the last quarter. Courier Capital LLC raised its holdings in shares of Financial Institutions by 2.4% in the third quarter. Courier Capital LLC now owns 350,239 shares of the bank’s stock valued at $8,921,000 after purchasing an additional 8,064 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Financial Institutions by 9.0% in the second quarter. Renaissance Technologies LLC now owns 332,500 shares of the bank’s stock worth $6,424,000 after purchasing an additional 27,400 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Financial Institutions by 8.7% during the second quarter. Acadian Asset Management LLC now owns 324,263 shares of the bank’s stock worth $6,263,000 after purchasing an additional 25,865 shares during the last quarter. 60.45% of the stock is currently owned by institutional investors.
Financial Institutions Company Profile
(Get Free Report)
Financial Institutions, Inc operates as a holding company for the Five Star Bank, a chartered bank that provides banking and financial services to individuals, municipalities, and businesses in New York. The company provides checking and savings account programs, including money market accounts, certificates of deposit, sweep investments, and individual retirement and other qualified plan accounts, as well as NOW accounts.
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