Financial Institutions (NASDAQ:FISI) Downgraded by StockNews.com to "Sell"

StockNews.com downgraded shares of Financial Institutions (NASDAQ:FISI - Free Report) from a hold rating to a sell rating in a research note released on Monday morning.

Several other equities analysts also recently issued reports on FISI. Keefe, Bruyette & Woods upgraded Financial Institutions from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $29.00 to $34.00 in a research report on Monday. Piper Sandler began coverage on Financial Institutions in a research report on Friday, December 20th. They set an "overweight" rating and a $33.00 price target for the company. Finally, Stephens reissued an "equal weight" rating and set a $33.00 price target on shares of Financial Institutions in a report on Friday, January 31st.

Financial Institutions Stock Performance

NASDAQ FISI traded down $0.40 during trading hours on Monday, hitting $27.93. The company had a trading volume of 149,203 shares, compared to its average volume of 147,208. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26. The firm has a market cap of $432.08 million, a P/E ratio of -19.26 and a beta of 0.90. Financial Institutions has a fifty-two week low of $16.29 and a fifty-two week high of $29.34. The business has a fifty day simple moving average of $27.09 and a 200-day simple moving average of $25.93.

Financial Institutions (NASDAQ:FISI - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The bank reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.20). Financial Institutions had a positive return on equity of 11.12% and a negative net margin of 6.69%. Equities analysts predict that Financial Institutions will post 3.39 EPS for the current year.

Financial Institutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Friday, December 13th. Financial Institutions's dividend payout ratio (DPR) is presently -82.76%.

Insider Transactions at Financial Institutions

In other Financial Institutions news, Director Robert N. Latella acquired 4,000 shares of the stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $25.00 per share, with a total value of $100,000.00. Following the purchase, the director now directly owns 16,000 shares of the company's stock, valued at approximately $400,000. This trade 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 link. Company insiders own 2.68% of the company's stock.

Institutional Trading of Financial Institutions

Large investors have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new stake in shares of Financial Institutions during the 4th quarter valued at $30,000. US Bancorp DE boosted its position 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 purchasing an additional 1,399 shares during the period. SG Americas Securities LLC purchased a new position in Financial Institutions in the 3rd quarter worth about $164,000. CWM LLC raised its holdings in Financial Institutions by 50.3% during the 3rd quarter. CWM LLC now owns 8,172 shares of the bank's stock worth $208,000 after buying an additional 2,734 shares during the period. Finally, Stonebrook Private Inc. purchased a new stake in Financial Institutions during the third quarter valued at about $218,000. 60.45% of the stock is currently owned by institutional investors.

About Financial Institutions

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.