BidaskClub downgraded shares of Financial Institutions (NASDAQ:FISI) from a hold rating to a sell rating in a report released on Thursday morning.
FISI has been the subject of several other reports. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $33.00 price target on shares of Financial Institutions in a report on Thursday, October 26th. Piper Jaffray Companies reaffirmed a hold rating and set a $31.50 price target on shares of Financial Institutions in a report on Wednesday, October 4th. Finally, ValuEngine raised Financial Institutions from a hold rating to a buy rating in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $32.25.
Shares of Financial Institutions (NASDAQ FISI) traded up $0.60 during midday trading on Thursday, hitting $32.25. The company had a trading volume of 70,449 shares, compared to its average volume of 48,243. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11. Financial Institutions has a 52-week low of $25.65 and a 52-week high of $35.40. The firm has a market capitalization of $503.94, a P/E ratio of 16.04 and a beta of 1.24.
Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings results on Tuesday, October 24th. The bank reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. Financial Institutions had a return on equity of 9.66% and a net margin of 19.46%. The firm had revenue of $37.01 million during the quarter. research analysts expect that Financial Institutions will post 1.94 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Thursday, December 14th were issued a dividend of $0.22 per share. The ex-dividend date was Wednesday, December 13th. This is an increase from Financial Institutions’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 2.73%. Financial Institutions’s dividend payout ratio (DPR) is currently 43.78%.
In other Financial Institutions news, insider Joseph L. Dugan bought 930 shares of Financial Institutions stock in a transaction on Tuesday, November 21st. The stock was bought at an average price of $32.15 per share, with a total value of $29,899.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert M. Glaser bought 1,000 shares of Financial Institutions stock in a transaction on Wednesday, December 13th. The stock was acquired at an average cost of $32.34 per share, with a total value of $32,340.00. Following the acquisition, the director now owns 13,451 shares of the company’s stock, valued at approximately $435,005.34. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 4,939 shares of company stock valued at $158,934. Corporate insiders own 5.49% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in FISI. Numeric Investors LLC increased its position in shares of Financial Institutions by 306.4% in the second quarter. Numeric Investors LLC now owns 241,803 shares of the bank’s stock valued at $7,206,000 after acquiring an additional 182,306 shares during the last quarter. Banc Funds Co. LLC grew its holdings in shares of Financial Institutions by 113.3% during the second quarter. Banc Funds Co. LLC now owns 188,261 shares of the bank’s stock worth $5,610,000 after buying an additional 100,000 shares in the last quarter. Thrivent Financial For Lutherans purchased a new stake in shares of Financial Institutions during the second quarter worth $2,401,000. Dimensional Fund Advisors LP grew its holdings in shares of Financial Institutions by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 967,271 shares of the bank’s stock worth $28,825,000 after buying an additional 77,202 shares in the last quarter. Finally, Citadel Advisors LLC grew its holdings in shares of Financial Institutions by 103.6% during the third quarter. Citadel Advisors LLC now owns 94,620 shares of the bank’s stock worth $2,725,000 after buying an additional 48,141 shares in the last quarter. 69.20% of the stock is owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: “BidaskClub Lowers Financial Institutions (FISI) to Sell” was originally reported by Transcript Daily and is owned by of Transcript Daily. If you are viewing this piece on another site, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The correct version of this piece can be viewed at https://transcriptdaily.com/2018/01/08/bidaskclub-lowers-financial-institutions-fisi-to-sell.html.
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.
Receive News & Ratings for Financial Institutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Financial Institutions and related companies with MarketBeat.com's FREE daily email newsletter.