Keefe, Bruyette & Woods Boosts Financial Institutions (NASDAQ:FISI) Price Target to $28.00

Financial Institutions (NASDAQ:FISI) had its price target increased by Keefe, Bruyette & Woods from $27.00 to $28.00 in a report released on Wednesday,Benzinga reports. They currently have a market perform rating on the bank’s stock.

Separately, StockNews.com downgraded Financial Institutions from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.

Financial Institutions Stock Up 0.8 %

Shares of NASDAQ:FISI opened at $26.92 on Wednesday. The company has a market capitalization of $416.45 million, a price-to-earnings ratio of 8.47 and a beta of 0.92. 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 business’s 50-day moving average is $25.88 and its 200-day moving average is $23.25. Financial Institutions has a 1 year low of $16.29 and a 1 year high of $29.14.

Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings results on Thursday, October 24th. The bank reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. Financial Institutions had a return on equity of 11.32% and a net margin of 13.72%. The business had revenue of $50.12 million for the quarter. During the same period last year, the company posted $0.88 earnings per share. Equities research analysts predict that Financial Institutions will post 3.6 earnings per share for the current year.

Financial Institutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.46%. The ex-dividend date is Friday, December 13th. Financial Institutions’s dividend payout ratio (DPR) is 37.74%.

Hedge Funds Weigh In On Financial Institutions

Large investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC bought a new position in shares of Financial Institutions in the third quarter worth $513,000. Segall Bryant & Hamill LLC bought a new position in shares of Financial Institutions in the third quarter worth $1,364,000. AQR Capital Management LLC boosted its holdings in shares of Financial Institutions by 147.3% in the second quarter. AQR Capital Management LLC now owns 63,213 shares of the bank’s stock worth $1,221,000 after acquiring an additional 37,653 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Financial Institutions by 8.7% in the second quarter. Acadian Asset Management LLC now owns 324,263 shares of the bank’s stock worth $6,263,000 after acquiring an additional 25,865 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Financial Institutions by 32.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,559 shares of the bank’s stock worth $2,485,000 after acquiring an additional 23,885 shares during the period. 60.45% of the stock is owned by 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 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.