Financial Institutions (NASDAQ:FISI) Receives Equal Weight Rating from Stephens

Stephens reiterated their equal weight rating on shares of Financial Institutions (NASDAQ:FISI) in a research report released on Friday morning,Benzinga reports. The brokerage currently has a $33.00 target price on the bank’s stock.

Other research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Financial Institutions from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods boosted their price target on shares of Financial Institutions from $27.00 to $28.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler started coverage on shares of Financial Institutions in a report on Friday, December 20th. They issued an “overweight” rating and a $33.00 price objective for the company.

Financial Institutions Stock Down 2.9 %

NASDAQ FISI opened at $26.37 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $408.05 million, a PE ratio of 8.29 and a beta of 0.91. Financial Institutions has a 1 year low of $16.29 and a 1 year high of $29.34. The business’s 50-day moving average is $27.07 and its 200 day moving average is $25.79.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings data on Thursday, January 30th. The bank reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.20). Financial Institutions had a return on equity of 11.32% and a net margin of 13.72%. Sell-side analysts forecast that Financial Institutions will post 3.31 earnings per share for the current year.

Financial Institutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date was Friday, December 13th. Financial Institutions’s payout ratio is -82.76%.

Insider Transactions at Financial Institutions

In other news, Director Robert N. Latella bought 4,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $100,000.00. Following the completion of the purchase, the director now owns 16,000 shares in the company, valued at approximately $400,000. This represents a 33.33 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.68% of the company’s stock.

Institutional Investors Weigh In On Financial Institutions

Several institutional investors and hedge funds have recently made changes to their positions in FISI. Stieven Capital Advisors L.P. purchased a new stake in Financial Institutions during the 4th quarter valued at $6,140,000. Empowered Funds LLC lifted its holdings in shares of Financial Institutions by 5.1% during the fourth quarter. Empowered Funds LLC now owns 69,862 shares of the bank’s stock valued at $1,907,000 after purchasing an additional 3,412 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Financial Institutions during the fourth quarter valued at $30,000. SG Americas Securities LLC increased its holdings in Financial Institutions by 14.9% in the 4th quarter. SG Americas Securities LLC now owns 7,418 shares of the bank’s stock worth $202,000 after buying an additional 964 shares in the last quarter. Finally, Courier Capital LLC raised its position in Financial Institutions by 0.5% in the 4th quarter. Courier Capital LLC now owns 352,126 shares of the bank’s stock worth $9,610,000 after buying an additional 1,887 shares during the last quarter. Institutional investors own 60.45% of the company’s stock.

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.