Financial Institutions (NASDAQ:FISI) Given Equal Weight Rating at Stephens

Financial Institutions (NASDAQ:FISI - Get Free Report)'s stock had its "equal weight" rating restated by equities researchers at Stephens in a research note issued on Tuesday,Benzinga reports. They currently have a $32.00 target price on the bank's stock. Stephens' price target would suggest a potential upside of 24.94% from the company's previous close.

A number of other research analysts also recently issued reports on the company. StockNews.com upgraded Financial Institutions from a "sell" rating to a "hold" rating in a report on Tuesday, February 11th. Piper Sandler assumed coverage on Financial Institutions in a research note on Friday, December 20th. They set an "overweight" rating and a $33.00 target price on the stock. Finally, Keefe, Bruyette & Woods upgraded Financial Institutions from a "market perform" rating to an "outperform" rating and upped their target price for the company from $29.00 to $34.00 in a report on Monday, February 3rd.

Financial Institutions Trading Down 1.3 %

Shares of NASDAQ:FISI traded down $0.33 during trading on Tuesday, reaching $25.61. 64,766 shares of the company traded hands, compared to its average volume of 75,249. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. Financial Institutions has a 52-week low of $16.29 and a 52-week high of $29.79. The business's fifty day moving average is $27.41 and its 200-day moving average is $26.55. The firm has a market capitalization of $396.34 million, a price-to-earnings ratio of -17.62 and a beta of 0.86.

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Financial Institutions (NASDAQ:FISI - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The bank reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.20). Financial Institutions had a negative net margin of 6.69% and a positive return on equity of 11.12%. As a group, analysts forecast that Financial Institutions will post 3.3 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robert N. Latella purchased 4,000 shares of the company's stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the director now directly owns 16,000 shares of the company's stock, valued at $400,000. This trade represents a 33.33 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.68% of the company's stock.

Hedge Funds Weigh In On Financial Institutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Financial Institutions in the 4th quarter worth about $30,000. Picton Mahoney Asset Management grew its holdings in Financial Institutions by 45.5% in the fourth quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank's stock worth $32,000 after purchasing an additional 374 shares during the period. US Bancorp DE increased its stake in shares of Financial Institutions by 119.3% during the third quarter. US Bancorp DE now owns 2,572 shares of the bank's stock valued at $66,000 after purchasing an additional 1,399 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Financial Institutions during the fourth quarter valued at approximately $87,000. Finally, SG Americas Securities LLC boosted its position in shares of Financial Institutions by 14.9% in the 4th quarter. SG Americas Securities LLC now owns 7,418 shares of the bank's stock worth $202,000 after purchasing an additional 964 shares in the last quarter. Hedge funds and other institutional investors own 60.45% of the company's stock.

Financial Institutions Company Profile

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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