Financial Institutions (FISI) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of Financial Institutions (NASDAQ:FISI) from a buy rating to a hold rating in a research note published on Tuesday.

FISI has been the topic of several other research reports. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $33.00 price objective on shares of Financial Institutions in a research note on Thursday, October 26th. Piper Jaffray Companies reissued a hold rating and issued a $31.50 price target on shares of Financial Institutions in a research note on Wednesday, October 4th. Finally, ValuEngine raised Financial Institutions from a hold rating to a buy rating in a research note on Monday, October 2nd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $32.25.

Shares of Financial Institutions (FISI) opened at $32.30 on Tuesday. The company has a market capitalization of $487.13, a price-to-earnings ratio of 16.07 and a beta of 1.24. Financial Institutions has a 12 month low of $25.65 and a 12 month high of $35.40. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.75.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings data on Tuesday, October 24th. The bank reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The business had revenue of $37.01 million for the quarter. Financial Institutions had a return on equity of 9.66% and a net margin of 19.46%. analysts expect that Financial Institutions will post 1.94 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Thursday, December 14th will be paid a $0.22 dividend. This is an increase from Financial Institutions’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.72%. Financial Institutions’s dividend payout ratio (DPR) is currently 43.78%.

In other news, insider Joseph L. Dugan purchased 930 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were purchased at an average price of $32.15 per share, with a total value of $29,899.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert M. Glaser purchased 1,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was purchased at an average cost of $32.34 per share, for a total transaction of $32,340.00. Following the purchase, the director now directly owns 13,451 shares in the company, valued at $435,005.34. The disclosure for this purchase can be found here. Insiders acquired a total of 4,939 shares of company stock worth $158,934 in the last three months. Company insiders own 5.49% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FISI. SG Americas Securities LLC acquired a new stake in shares of Financial Institutions in the 3rd quarter valued at about $139,000. Brandywine Global Investment Management LLC grew its holdings in shares of Financial Institutions by 17.4% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 4,732 shares of the bank’s stock valued at $142,000 after acquiring an additional 702 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Financial Institutions in the 2nd quarter valued at about $216,000. Virtu KCG Holdings LLC bought a new position in shares of Financial Institutions in the 2nd quarter valued at about $219,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Financial Institutions by 1.7% in the 2nd quarter. Wells Fargo & Company MN now owns 9,351 shares of the bank’s stock valued at $279,000 after acquiring an additional 159 shares in the last quarter. 69.20% of the stock is currently owned by hedge funds and other 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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