Financial Institutions (NASDAQ:FISI - Get Free Report) was upgraded by research analysts at Keefe, Bruyette & Woods from a "market perform" rating to an "outperform" rating in a research note issued on Monday, MarketBeat Ratings reports. The brokerage presently has a $34.00 target price on the bank's stock, up from their prior target price of $29.00. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 20.01% from the company's current price.
FISI has been the topic of a number of other reports. StockNews.com lowered shares of Financial Institutions from a "buy" rating to a "hold" rating in a report on Wednesday, December 18th. Piper Sandler began coverage on shares of Financial Institutions in a research report on Friday, December 20th. They issued an "overweight" rating and a $33.00 target price on the stock. Finally, Stephens reaffirmed an "equal weight" rating and issued a $33.00 target price on shares of Financial Institutions in a research report on Friday, January 31st.
Read Our Latest Analysis on Financial Institutions
Financial Institutions Trading Up 1.6 %
Financial Institutions stock traded up $0.45 during trading on Monday, hitting $28.33. The company had a trading volume of 104,421 shares, compared to its average volume of 147,126. Financial Institutions has a 1-year low of $16.29 and a 1-year 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's 50 day simple moving average is $27.06 and its 200-day simple moving average is $25.91. The stock has a market cap of $438.27 million, a price-to-earnings ratio of -19.54 and a beta of 0.90.
Financial Institutions (NASDAQ:FISI - Get Free Report) last issued 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 negative net margin of 6.69% and a positive return on equity of 11.12%. As a group, analysts expect that Financial Institutions will post 3.39 EPS for the current fiscal year.
Insider Buying and Selling
In other news, Director Robert N. Latella acquired 4,000 shares of the business's stock in a transaction on Friday, December 13th. The stock was bought at an average price of $25.00 per share, for a total transaction of $100,000.00. Following the transaction, the director now owns 16,000 shares in the company, valued at $400,000. This represents a 33.33 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.68% of the stock is owned by company insiders.
Hedge Funds Weigh In On Financial Institutions
Large investors have recently bought and sold shares of the company. PL Capital Advisors LLC increased its holdings in shares of Financial Institutions by 666.8% in the 4th quarter. PL Capital Advisors LLC now owns 13,583,625 shares of the bank's stock valued at $370,697,000 after purchasing an additional 11,812,109 shares in the last quarter. Geode Capital Management LLC increased its holdings in Financial Institutions by 2.0% in the third quarter. Geode Capital Management LLC now owns 354,685 shares of the bank's stock valued at $9,036,000 after buying an additional 7,045 shares in the last quarter. Courier Capital LLC lifted its position in shares of Financial Institutions by 0.5% during the 4th quarter. Courier Capital LLC now owns 352,126 shares of the bank's stock valued at $9,610,000 after acquiring an additional 1,887 shares during the period. State Street Corp boosted its stake in shares of Financial Institutions by 6.5% during the 3rd quarter. State Street Corp now owns 283,707 shares of the bank's stock worth $7,309,000 after acquiring an additional 17,395 shares in the last quarter. Finally, Stieven Capital Advisors L.P. acquired a new stake in shares of Financial Institutions in the 4th quarter worth approximately $6,140,000. Hedge funds and other institutional investors own 60.45% of the company's stock.
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.
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