Financial Institutions (NASDAQ:FISI) Stock Rating Upgraded by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Financial Institutions (NASDAQ:FISI) from a market perform rating to an outperform rating in a report published on Monday, Marketbeat.com reports. The firm currently has $34.00 target price on the bank’s stock, up from their previous target price of $29.00.

A number of other brokerages also recently commented on FISI. Piper Sandler assumed coverage on shares of Financial Institutions in a research report on Friday, December 20th. They set an “overweight” rating and a $33.00 price objective for the company. StockNews.com downgraded shares of Financial Institutions from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Stephens reissued an “equal weight” rating and set a $33.00 target price on shares of Financial Institutions in a research note on Friday.

Financial Institutions Trading Up 1.3 %

NASDAQ FISI opened at $26.72 on Monday. Financial Institutions has a one year low of $16.29 and a one year high of $29.34. The firm has a market cap of $413.36 million, a PE ratio of -18.43 and a beta of 0.90. The firm’s fifty day moving average is $27.07 and its two-hundred day moving average is $25.83. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.86.

Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings data 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%. Analysts expect that Financial Institutions will post 3.39 earnings per share for the current year.

Financial Institutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date was Friday, December 13th. Financial Institutions’s dividend payout ratio is presently -82.76%.

Insider Buying and Selling at Financial Institutions

In other news, Director Robert N. Latella purchased 4,000 shares of the stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $25.00 per share, with a total value of $100,000.00. Following the completion of the transaction, the director now owns 16,000 shares in the company, valued at approximately $400,000. The trade was a 33.33 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.68% of the stock is owned by company insiders.

Institutional Trading of Financial Institutions

A number of institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd purchased a new stake in shares of Financial Institutions in the fourth quarter worth about $30,000. US Bancorp DE grew its position in Financial Institutions by 119.3% in the third quarter. US Bancorp DE now owns 2,572 shares of the bank’s stock valued at $66,000 after acquiring an additional 1,399 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Financial Institutions during the third quarter valued at approximately $164,000. CWM LLC lifted its position in shares of Financial Institutions by 50.3% during the third quarter. CWM LLC now owns 8,172 shares of the bank’s stock worth $208,000 after purchasing an additional 2,734 shares in the last quarter. Finally, Stonebrook Private Inc. acquired a new stake in Financial Institutions during the 3rd quarter valued at $218,000. 60.45% of the stock is owned by hedge funds and other institutional investors.

About Financial Institutions

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.