Financial Institutions, Inc. (NASDAQ:FISI - Get Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $26.32 and traded as high as $28.75. Financial Institutions shares last traded at $28.21, with a volume of 234,099 shares.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on FISI shares. StockNews.com upgraded Financial Institutions from a "sell" rating to a "hold" rating in a research report on Tuesday, February 11th. Stephens restated an "equal weight" rating and issued a $33.00 target price on shares of Financial Institutions in a report on Friday, January 31st. Keefe, Bruyette & Woods raised Financial Institutions from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $29.00 to $34.00 in a research note on Monday, February 3rd. Finally, Piper Sandler began coverage on shares of Financial Institutions in a research report on Friday, December 20th. They set an "overweight" rating and a $33.00 price target on the stock.
Check Out Our Latest Stock Analysis on Financial Institutions
Financial Institutions Trading Up 1.0 %
The stock has a market cap of $433.58 million, a price-to-earnings ratio of -19.32 and a beta of 0.90. 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 company has a 50 day moving average of $27.43 and a 200-day moving average of $26.37.
Financial Institutions (NASDAQ:FISI - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $0.54 EPS for the quarter, missing the consensus estimate 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%. On average, research analysts anticipate that Financial Institutions, Inc. will post 3.3 earnings per share for the current year.
Financial Institutions Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 14th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 4.43%. The ex-dividend date is Friday, March 14th. This is an increase from Financial Institutions's previous quarterly dividend of $0.30. Financial Institutions's payout ratio is currently -85.52%.
Insider Transactions at Financial Institutions
In other Financial Institutions news, Director Robert N. Latella bought 4,000 shares of Financial Institutions stock in a transaction dated 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 owns 16,000 shares of the company's stock, valued at approximately $400,000. This represents a 33.33 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.68% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the stock. R Squared Ltd purchased a new position in Financial Institutions in the 4th quarter valued at $30,000. Picton Mahoney Asset Management boosted its holdings in shares of Financial Institutions by 45.5% in the fourth quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank's stock valued at $32,000 after acquiring an additional 374 shares in the last quarter. 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 worth $66,000 after acquiring an additional 1,399 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of Financial Institutions during the fourth quarter worth about $87,000. Finally, SG Americas Securities LLC raised its holdings in Financial Institutions by 14.9% during the fourth 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. 60.45% of the stock is currently owned by hedge funds and other 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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