BidaskClub Lowers Financial Institutions (FISI) to Sell

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.

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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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