Financial Institutions (NASDAQ:FISI) Shares Gap Up – What’s Next?

Financial Institutions, Inc. (NASDAQ:FISI)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $25.98, but opened at $26.60. Financial Institutions shares last traded at $26.22, with a volume of 10,776 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FISI shares. Piper Sandler started coverage on Financial Institutions in a research report on Friday, December 20th. They set an “overweight” rating and a $33.00 price target on the stock. Stephens reissued an “equal weight” rating and set a $32.00 price target on shares of Financial Institutions in a research report on Tuesday, March 11th. StockNews.com raised Financial Institutions from a “sell” rating to a “hold” rating in a research report on Tuesday, February 11th. Finally, Keefe, Bruyette & Woods raised Financial Institutions from a “market perform” rating to an “outperform” rating and upped their price target for the company from $29.00 to $34.00 in a research report on Monday, February 3rd.

Financial Institutions Price Performance

The company has a 50 day moving average of $27.29 and a two-hundred day moving average of $26.56. The firm has a market cap of $523.84 million, a P/E ratio of -17.99 and a beta of 0.86. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings results 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 negative net margin of 6.69% and a positive return on equity of 11.12%. Sell-side analysts expect that Financial Institutions, Inc. will post 3.3 EPS for the current year.

Financial Institutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 14th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Financial Institutions’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 4.75%. Financial Institutions’s dividend payout ratio (DPR) is presently -85.52%.

Institutional Investors Weigh In On Financial Institutions

A number of institutional investors have recently bought and sold shares of the business. Picton Mahoney Asset Management raised its stake in shares of Financial Institutions by 45.5% during the 4th quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank’s stock worth $32,000 after purchasing an additional 374 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Financial Institutions by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,716 shares of the bank’s stock valued at $238,000 after acquiring an additional 380 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Financial Institutions by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 124,428 shares of the bank’s stock valued at $3,169,000 after acquiring an additional 417 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Financial Institutions by 1.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 60,320 shares of the bank’s stock valued at $1,646,000 after acquiring an additional 595 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Financial Institutions by 14.9% in the 4th quarter. SG Americas Securities LLC now owns 7,418 shares of the bank’s stock valued at $202,000 after acquiring an additional 964 shares in the last quarter. 60.45% of the stock is currently owned by institutional investors and hedge funds.

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.