Financial Institutions (NASDAQ:FISI) Rating Increased to Buy at StockNews.com

Financial Institutions (NASDAQ:FISI) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Separately, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $25.00 price objective (up previously from $20.00) on shares of Financial Institutions in a research report on Monday, July 29th.

Financial Institutions Stock Down 1.6 %

FISI opened at $26.40 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.86 and a quick ratio of 0.86. The business has a 50 day simple moving average of $24.57 and a 200-day simple moving average of $20.36. The stock has a market capitalization of $407.80 million, a P/E ratio of 10.52 and a beta of 0.89. Financial Institutions has a 12 month low of $15.22 and a 12 month high of $27.75.

Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $1.62 EPS for the quarter, beating the consensus estimate of $0.70 by $0.92. Financial Institutions had a return on equity of 12.06% and a net margin of 13.95%. The business had revenue of $102.80 million during the quarter. During the same period in the prior year, the business earned $0.91 earnings per share. On average, equities analysts anticipate that Financial Institutions will post 3.64 earnings per share for the current fiscal year.

Institutional Trading of Financial Institutions

Several institutional investors and hedge funds have recently bought and sold shares of the company. Innealta Capital LLC bought a new position in shares of Financial Institutions during the second quarter valued at approximately $25,000. Lazard Asset Management LLC bought a new position in shares of Financial Institutions during the first quarter valued at approximately $98,000. CWM LLC grew its holdings in shares of Financial Institutions by 150.4% during the second quarter. CWM LLC now owns 5,438 shares of the bank’s stock valued at $105,000 after purchasing an additional 3,266 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Financial Institutions by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,811 shares of the bank’s stock valued at $166,000 after purchasing an additional 742 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Financial Institutions by 11.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 12,276 shares of the bank’s stock valued at $237,000 after purchasing an additional 1,216 shares during the last quarter. Institutional investors and hedge funds own 60.45% of the company’s stock.

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.