Financial Institutions (NASDAQ:FISI) Rating Lowered to Hold at StockNews.com

Financial Institutions (NASDAQ:FISI) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

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

Financial Institutions Stock Performance

FISI traded up $0.99 during trading hours on Friday, hitting $25.57. The company’s stock had a trading volume of 44,447 shares, compared to its average volume of 53,045. Financial Institutions has a fifty-two week low of $15.22 and a fifty-two week high of $27.75. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $395.06 million, a PE ratio of 10.19 and a beta of 0.89. The company has a 50-day simple moving average of $23.78 and a 200 day simple moving average of $20.01.

Financial Institutions (NASDAQ:FISI) last posted its 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 firm had revenue of $102.80 million for the quarter. During the same quarter in the prior year, the business earned $0.91 earnings per share. As a group, sell-side analysts expect that Financial Institutions will post 3.64 EPS for the current year.

Institutional Investors Weigh In On Financial Institutions

Several large investors have recently modified their holdings of FISI. BNP Paribas Financial Markets boosted its stake in shares of Financial Institutions by 23.7% during the 4th quarter. BNP Paribas Financial Markets now owns 18,875 shares of the bank’s stock worth $402,000 after acquiring an additional 3,612 shares in the last quarter. Quadrature Capital Ltd boosted its stake in shares of Financial Institutions by 35.6% during the 4th quarter. Quadrature Capital Ltd now owns 31,260 shares of the bank’s stock worth $666,000 after acquiring an additional 8,206 shares in the last quarter. Courier Capital LLC boosted its stake in shares of Financial Institutions by 55.8% during the 1st quarter. Courier Capital LLC now owns 338,686 shares of the bank’s stock worth $6,374,000 after acquiring an additional 121,233 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Financial Institutions by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,811 shares of the bank’s stock worth $166,000 after acquiring an additional 742 shares in the last quarter. Finally, PL Capital Advisors LLC boosted its stake in shares of Financial Institutions by 59.6% during the 1st quarter. PL Capital Advisors LLC now owns 301,281 shares of the bank’s stock worth $5,670,000 after acquiring an additional 112,481 shares in the last quarter. 60.45% of the stock is owned by 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.