Financial Institutions (NASDAQ:FISI) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Financial Institutions, Inc. (NASDAQ:FISI)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $32.70 and traded as high as $36.90. Financial Institutions shares last traded at $36.62, with a volume of 227,652 shares.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FISI shares. Wall Street Zen lowered Financial Institutions from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings raised Financial Institutions from a “hold (c-)” rating to a “buy (b-)” rating in a report on Thursday, March 12th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Financial Institutions presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Financial Institutions Trading Up 1.3%

The firm has a fifty day moving average price of $34.38 and a 200-day moving average price of $32.73. The company has a market capitalization of $730.55 million, a price-to-earnings ratio of 9.66 and a beta of 0.64. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86.

Financial Institutions (NASDAQ:FISI) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.12. The business had revenue of $62.67 million for the quarter, compared to analyst estimates of $62.76 million. Financial Institutions had a return on equity of 13.08% and a net margin of 20.85%. As a group, equities analysts anticipate that Financial Institutions, Inc. will post 3.96 EPS for the current year.

Financial Institutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.28 annualized dividend and a yield of 3.4%. Financial Institutions’s dividend payout ratio (DPR) is 33.33%.

Institutional Trading of Financial Institutions

Several large investors have recently bought and sold shares of the business. PL Capital Advisors LLC boosted its stake in Financial Institutions by 1.6% in the fourth quarter. PL Capital Advisors LLC now owns 1,802,791 shares of the bank’s stock valued at $56,193,000 after buying an additional 27,905 shares in the last quarter. Vanguard Group Inc. raised its position in Financial Institutions by 3.8% in the third quarter. Vanguard Group Inc. now owns 1,095,428 shares of the bank’s stock valued at $29,796,000 after purchasing an additional 40,240 shares during the last quarter. Wellington Management Group LLP raised its position in Financial Institutions by 42.4% in the fourth quarter. Wellington Management Group LLP now owns 1,049,295 shares of the bank’s stock valued at $32,707,000 after purchasing an additional 312,470 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in Financial Institutions by 19.8% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 972,043 shares of the bank’s stock valued at $30,299,000 after purchasing an additional 160,825 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Financial Institutions by 0.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 955,906 shares of the bank’s stock valued at $29,796,000 after purchasing an additional 4,801 shares during the last quarter. 60.45% of the stock is owned by institutional investors and hedge funds.

About Financial Institutions

Financial Institutions, Inc (NASDAQ: FISI) is a non-diversified, closed-end management investment company that seeks to provide tax-advantaged income to shareholders. The company invests primarily in investment-grade municipal obligations issued by states, municipalities and government agencies across the United States. By focusing on high-credit-quality bonds, Financial Institutions aims to deliver current income that is exempt from federal income tax.

In constructing its portfolio, the company may also utilize money market instruments and repurchase agreements to manage liquidity and facilitate efficient settlement.