Financial Institutions (NASDAQ:FISI) Lowered to Hold Rating by StockNews.com

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 research note issued on Wednesday.

Separately, Keefe, Bruyette & Woods upped their price target on Financial Institutions from $27.00 to $28.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th.

Financial Institutions Stock Down 4.9 %

FISI traded down $1.39 during midday trading on Wednesday, hitting $27.06. 135,441 shares of the company's stock traded hands, compared to its average volume of 56,806. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $418.73 million, a PE ratio of 8.51 and a beta of 0.92. The stock's fifty day simple moving average is $26.39 and its 200-day simple moving average is $23.89. Financial Institutions has a one year low of $16.29 and a one year high of $29.34.

Financial Institutions (NASDAQ:FISI - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share 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 prior year, the business posted $0.88 EPS. As a group, equities analysts anticipate that Financial Institutions will post 3.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Financial Institutions news, Director Robert N. Latella bought 4,000 shares of the stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $25.00 per share, with a total value of $100,000.00. Following 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 legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.68% of the company's stock.

Institutional Investors Weigh In On Financial Institutions

Several hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in shares of Financial Institutions by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 124,428 shares of the bank's stock worth $3,169,000 after acquiring an additional 417 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Financial Institutions by 1.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 59,725 shares of the bank's stock worth $1,521,000 after purchasing an additional 1,137 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Financial Institutions by 11.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 12,276 shares of the bank's stock worth $237,000 after buying an additional 1,216 shares in the last quarter. Innealta Capital LLC bought a new stake in Financial Institutions in the 2nd quarter valued at $25,000. Finally, US Bancorp DE raised its stake in shares of Financial Institutions by 119.3% in the 3rd quarter. US Bancorp DE now owns 2,572 shares of the bank's stock valued at $66,000 after buying an additional 1,399 shares in the last quarter. 60.45% of the stock is owned by institutional investors.

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.