Financial Institutions (NASDAQ:FISI - Get Free Report) was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a report issued on Tuesday.
Several other research firms also recently commented on FISI. 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 target price on the stock. Keefe, Bruyette & Woods raised Financial Institutions from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $29.00 to $34.00 in a report on Monday, February 3rd. Finally, Stephens reiterated an "equal weight" rating and issued a $33.00 price target on shares of Financial Institutions in a research report on Friday, January 31st.
View Our Latest Research Report on Financial Institutions
Financial Institutions Price Performance
Financial Institutions stock traded up $0.44 during mid-day trading on Tuesday, reaching $28.89. The company had a trading volume of 153,957 shares, compared to its average volume of 143,595. Financial Institutions has a fifty-two week low of $16.29 and a fifty-two week high of $29.34. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The company has a market cap of $446.93 million, a P/E ratio of -19.92 and a beta of 0.90. The business has a fifty day simple moving average of $27.26 and a 200 day simple moving average of $26.10.
Financial Institutions (NASDAQ:FISI - Get Free Report) last issued its earnings results on Thursday, January 30th. The bank reported $0.54 earnings per share (EPS) 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%. On average, equities research analysts predict that Financial Institutions will post 3.3 earnings per share for the current year.
Insider Buying and Selling at Financial Institutions
In other Financial Institutions news, Director Robert N. Latella bought 4,000 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $25.00 per share, with a total value of $100,000.00. Following the completion of the transaction, the director now directly owns 16,000 shares in the company, valued at approximately $400,000. The trade was a 33.33 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.68% of the company's stock.
Institutional Investors Weigh In On Financial Institutions
Several hedge funds and other institutional investors have recently made changes to their positions in FISI. Picton Mahoney Asset Management grew its position in Financial Institutions by 45.5% in the 4th quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank's stock worth $32,000 after purchasing an additional 374 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in 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 purchasing an additional 417 shares in the last quarter. SG Americas Securities LLC boosted its stake in Financial Institutions by 14.9% in the fourth quarter. SG Americas Securities LLC now owns 7,418 shares of the bank's stock valued at $202,000 after acquiring an additional 964 shares during the last quarter. R Squared Ltd purchased a new position in Financial Institutions in the fourth quarter valued at about $30,000. Finally, Jacobs Levy Equity Management Inc. boosted its stake 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 valued at $1,521,000 after acquiring an additional 1,137 shares during the last quarter. 60.45% of the stock is owned by institutional investors.
About Financial Institutions
(
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.
See Also
Before you consider Financial Institutions, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Financial Institutions wasn't on the list.
While Financial Institutions currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
