Financial Institutions (NASDAQ:FISI) Earns Market Perform Rating from Keefe, Bruyette & Woods

Financial Institutions (NASDAQ:FISI)‘s stock had its “market perform” rating reaffirmed by analysts at Keefe, Bruyette & Woods in a report released on Tuesday, Benzinga reports. They presently have a $23.00 price objective on the bank’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 27.92% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. TheStreet raised shares of Financial Institutions from a “c+” rating to a “b-” rating in a research note on Thursday, December 28th. Piper Sandler reissued a “neutral” rating and issued a $19.00 target price (down previously from $23.00) on shares of Financial Institutions in a research note on Monday, March 25th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.67.

Financial Institutions Price Performance

Financial Institutions stock opened at $17.98 on Tuesday. Financial Institutions has a 12 month low of $13.84 and a 12 month high of $23.11. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.84 and a quick ratio of 0.84. The business has a 50 day simple moving average of $19.02 and a 200-day simple moving average of $18.70. The stock has a market capitalization of $277.07 million, a PE ratio of 5.69 and a beta of 0.87.

Financial Institutions (NASDAQ:FISI) last released its earnings results on Thursday, January 25th. The bank reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.12). Financial Institutions had a net margin of 15.03% and a return on equity of 12.24%. The business had revenue of $55.25 million during the quarter, compared to analyst estimates of $50.29 million. Equities analysts predict that Financial Institutions will post 2.71 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Financial Institutions by 1.6% during the second quarter. BlackRock Inc. now owns 1,377,860 shares of the bank’s stock valued at $21,688,000 after purchasing an additional 21,138 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Financial Institutions by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,258,738 shares of the bank’s stock valued at $37,926,000 after buying an additional 9,639 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Financial Institutions by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 768,466 shares of the bank’s stock worth $16,368,000 after purchasing an additional 14,263 shares during the last quarter. FMR LLC grew its holdings in Financial Institutions by 2.0% during the 2nd quarter. FMR LLC now owns 732,292 shares of the bank’s stock worth $19,054,000 after acquiring an additional 14,119 shares during the last quarter. Finally, State Street Corp grew its holdings in Financial Institutions by 30.6% during the 1st quarter. State Street Corp now owns 494,212 shares of the bank’s stock worth $15,002,000 after acquiring an additional 115,703 shares during the last quarter. 60.45% of the stock is owned by hedge funds and other institutional investors.

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 offers 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.