Piper Jaffray Companies reaffirmed their hold rating on shares of Financial Institutions, Inc. (NASDAQ:FISI) in a report released on Wednesday. The brokerage currently has a $31.50 price target on the bank’s stock.
FISI has been the topic of a number of other reports. Keefe, Bruyette & Woods reissued a hold rating and issued a $33.00 price target on shares of Financial Institutions in a research note on Friday, September 22nd. ValuEngine raised shares of Financial Institutions from a hold rating to a buy rating in a research note on Tuesday, June 20th.
Shares of Financial Institutions (NASDAQ:FISI) opened at 29.45 on Wednesday. The company has a 50-day moving average of $27.63 and a 200-day moving average of $30.08. Financial Institutions has a 52-week low of $25.65 and a 52-week high of $35.40. The stock has a market capitalization of $441.69 million, a price-to-earnings ratio of 14.37 and a beta of 1.20.
Financial Institutions (NASDAQ:FISI) last released its quarterly earnings results on Tuesday, July 25th. The bank reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.08). The company had revenue of $36.76 million during the quarter. Financial Institutions had a net margin of 20.08% and a return on equity of 10.03%. Equities research analysts anticipate that Financial Institutions will post $1.95 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Thursday, September 14th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.84%. The ex-dividend date was Wednesday, September 13th. Financial Institutions’s payout ratio is currently 40.98%.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. IFC Holdings Incorporated FL increased its stake in Financial Institutions by 0.7% during the 2nd quarter. IFC Holdings Incorporated FL now owns 9,409 shares of the bank’s stock worth $280,000 after buying an additional 62 shares during the period. American International Group Inc. increased its stake in Financial Institutions by 1.1% during the 1st quarter. American International Group Inc. now owns 8,060 shares of the bank’s stock worth $266,000 after buying an additional 85 shares during the period. Wells Fargo & Company MN increased its stake in Financial Institutions by 1.7% during the 2nd quarter. Wells Fargo & Company MN now owns 9,351 shares of the bank’s stock worth $279,000 after buying an additional 159 shares during the period. Brandywine Global Investment Management LLC increased its stake in Financial Institutions by 17.4% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 4,732 shares of the bank’s stock worth $142,000 after buying an additional 702 shares during the period. Finally, Teachers Advisors LLC increased its stake in Financial Institutions by 3.3% during the 2nd quarter. Teachers Advisors LLC now owns 24,496 shares of the bank’s stock worth $730,000 after buying an additional 777 shares during the period. 67.11% of the stock is currently owned by hedge funds and other institutional investors.
About Financial Institutions
Financial Institutions, Inc is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank; Scott Danahy Naylon, LLC (SDN), a full service insurance agency, and Courier Capital, LLC (Courier Capital), an investment advisory and wealth management company.
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