Financial Institutions (NASDAQ:FISI) Shares Cross Above 200-Day Moving Average – Time to Sell?

Financial Institutions, Inc. (NASDAQ:FISI)’s share price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $38.00 and traded as high as $38.74. Financial Institutions shares last traded at $38.63, with a volume of 118,187 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Financial Institutions in a research report on Friday, October 2nd. Keefe, Bruyette & Woods upped their price target on Financial Institutions from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $45.00 price target (up from $38.00) on shares of Financial Institutions in a report on Monday, August 3rd. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $45.00.

Financial Institutions Trading Up 0.1%

The stock has a market cap of $774.64 million, a P/E ratio of 9.75 and a beta of 0.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.88 and a quick ratio of 0.88. The firm’s 50 day moving average price is $40.44 and its 200-day moving average price is $38.06.

Financial Institutions (NASDAQ:FISI) last posted its earnings results on Thursday, July 23rd. The bank reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. Financial Institutions had a return on equity of 13.45% and a net margin of 21.78%. The business had revenue of $64.31 million during the quarter, compared to analyst estimates of $63.54 million. As a group, equities research analysts forecast that Financial Institutions, Inc. will post 4.21 earnings per share for the current year.

Financial Institutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Tuesday, September 15th were issued a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a yield of 3.3%. Financial Institutions’s dividend payout ratio is currently 31.76%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Financial Institutions in the 2nd quarter worth $64,973,000. Ategra Capital Management LLC purchased a new position in shares of Financial Institutions during the 2nd quarter valued at about $21,983,000. Hillsdale Investment Management Inc. purchased a new stake in Financial Institutions in the 1st quarter worth approximately $7,391,000. Canandaigua National Bank & Trust Co. purchased a new position in Financial Institutions during the second quarter valued at approximately $6,006,000. Finally, Bank of America Corp DE purchased a new stake in shares of Financial Institutions in the second quarter worth $5,015,000. 60.45% of the stock is currently owned by institutional investors.

Financial Institutions Company Profile

Financial Institutions, Inc (NASDAQ:FISI) is a financial services holding company headquartered in Western New York. Through its banking and wealth management subsidiaries, the company provides financial products and services to individuals, businesses, municipalities and nonprofit organizations.

Its principal subsidiary, Five Star Bank, offers consumer and commercial banking services, including deposit accounts, residential and commercial real estate lending, business loans, agricultural financing, personal loans, cash management and electronic banking.