BidaskClub upgraded shares of Financial Institutions (NASDAQ:FISI) from a strong sell rating to a sell rating in a research note published on Wednesday.
Other equities research analysts have also recently issued reports about the stock. Hovde Group reaffirmed a buy rating and issued a $36.00 price objective on shares of Financial Institutions in a research report on Friday, February 2nd. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $33.00 price objective on shares of Financial Institutions in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Financial Institutions currently has an average rating of Hold and an average price target of $33.50.
Shares of Financial Institutions (NASDAQ:FISI) opened at $30.80 on Wednesday. The company has a market cap of $472.70, a price-to-earnings ratio of 14.53 and a beta of 1.16. Financial Institutions has a 52-week low of $25.65 and a 52-week high of $35.40. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.75 and a quick ratio of 0.75.
In other Financial Institutions news, Director Andrew W. Dorn, Jr. purchased 1,557 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were purchased at an average cost of $30.95 per share, with a total value of $48,189.15. Following the transaction, the director now directly owns 16,999 shares of the company’s stock, valued at approximately $526,119.05. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Martin Kearney Birmingham purchased 1,000 shares of the business’s stock in a transaction on Monday, November 20th. The shares were acquired at an average cost of $31.65 per share, for a total transaction of $31,650.00. Following the completion of the transaction, the chief executive officer now directly owns 82,916 shares in the company, valued at $2,624,291.40. The disclosure for this purchase can be found here. Insiders purchased a total of 6,496 shares of company stock worth $207,123 over the last ninety days. 5.49% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of FISI. Dimensional Fund Advisors LP lifted its position in Financial Institutions by 8.7% during the 2nd 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. Bailard Inc. bought a new stake in Financial Institutions during the 4th quarter worth about $2,239,000. American Century Companies Inc. lifted its position in Financial Institutions by 536.0% during the 4th quarter. American Century Companies Inc. now owns 71,497 shares of the bank’s stock worth $2,224,000 after buying an additional 60,256 shares in the last quarter. Maltese Capital Management LLC lifted its position in Financial Institutions by 231.8% during the 4th quarter. Maltese Capital Management LLC now owns 70,000 shares of the bank’s stock worth $2,177,000 after buying an additional 48,900 shares in the last quarter. Finally, Citadel Advisors LLC lifted its position in Financial Institutions by 103.6% during the 3rd 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 currently owned by hedge funds and other institutional investors.
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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