Financial Institutions (NASDAQ:FISI) Upgraded by StockNews.com to “Hold” Rating

Financial Institutions (NASDAQ:FISI) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

FISI has been the subject of several other research reports. Stephens reissued an “equal weight” rating and set a $32.00 price target on shares of Financial Institutions in a research report on Tuesday, March 11th. Keefe, Bruyette & Woods raised Financial Institutions from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $29.00 to $34.00 in a research note on Monday, February 3rd.

Financial Institutions Price Performance

Financial Institutions stock opened at $26.20 on Thursday. The firm has a market capitalization of $526.88 million, a PE ratio of -18.07 and a beta of 0.70. Financial Institutions has a 52 week low of $16.81 and a 52 week high of $29.79. The firm’s 50-day simple moving average is $24.58 and its 200 day simple moving average is $26.21. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26.

Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings results on Monday, April 28th. The bank reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.07. Financial Institutions had a negative net margin of 6.69% and a positive return on equity of 11.12%. The company had revenue of $57.24 million for the quarter, compared to the consensus estimate of $57.14 million. On average, equities research analysts predict that Financial Institutions will post 3.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Financial Institutions

Several hedge funds have recently made changes to their positions in the business. Barclays PLC increased its stake in Financial Institutions by 48.4% in the third quarter. Barclays PLC now owns 44,798 shares of the bank’s stock valued at $1,141,000 after purchasing an additional 14,606 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Financial Institutions by 32.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,108 shares of the bank’s stock valued at $461,000 after acquiring an additional 4,461 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Financial Institutions by 72.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 25,345 shares of the bank’s stock worth $646,000 after acquiring an additional 10,613 shares during the period. Courier Capital LLC boosted its position in shares of Financial Institutions by 0.5% in the fourth quarter. Courier Capital LLC now owns 352,126 shares of the bank’s stock worth $9,610,000 after acquiring an additional 1,887 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Financial Institutions by 14.9% in the fourth quarter. SG Americas Securities LLC now owns 7,418 shares of the bank’s stock valued at $202,000 after purchasing an additional 964 shares during the period. Institutional investors and hedge funds own 60.45% of the company’s stock.

Financial Institutions Company Profile

Financial Institutions, Inc operates as a holding company for the Five Star Bank, a chartered bank that provides banking and financial services to individuals, municipalities, and businesses in New York. The company provides checking and savings account programs, including money market accounts, certificates of deposit, sweep investments, and individual retirement and other qualified plan accounts, as well as NOW accounts.