Financial Institutions (NASDAQ:FISI) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Financial Institutions, Inc. (NASDAQ:FISI)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $26.32 and traded as high as $28.75. Financial Institutions shares last traded at $28.21, with a volume of 234,099 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FISI. StockNews.com upgraded Financial Institutions from a “sell” rating to a “hold” rating in a research note on Tuesday, February 11th. Stephens restated an “equal weight” rating and set a $33.00 price target on shares of Financial Institutions in a research note on Friday, January 31st. Piper Sandler began coverage on Financial Institutions in a research note on Friday, December 20th. They set an “overweight” rating and a $33.00 price target on the stock. Finally, Keefe, Bruyette & Woods upgraded Financial Institutions from a “market perform” rating to an “outperform” rating and raised their price target for the company from $29.00 to $34.00 in a research note on Monday, February 3rd.

Financial Institutions Stock Performance

The business has a 50-day moving average of $27.40 and a two-hundred day moving average of $26.32. The company has a market cap of $436.52 million, a P/E ratio of -19.46 and a beta of 0.90. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings data on Thursday, January 30th. The bank reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.20). Financial Institutions had a negative net margin of 6.69% and a positive return on equity of 11.12%. On average, sell-side analysts predict that Financial Institutions, Inc. will post 3.3 EPS for the current fiscal year.

Financial Institutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 14th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 4.40%. This is an increase from Financial Institutions’s previous quarterly dividend of $0.30. Financial Institutions’s dividend payout ratio (DPR) is presently -85.52%.

Insiders Place Their Bets

In other Financial Institutions news, Director Robert N. Latella purchased 4,000 shares of the stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $25.00 per share, with a total value of $100,000.00. Following the completion of the acquisition, the director now owns 16,000 shares in the company, valued at $400,000. The trade was a 33.33 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Los Angeles Capital Management LLC purchased a new position in shares of Financial Institutions in the third quarter worth about $513,000. Zacks Investment Management purchased a new position in shares of Financial Institutions in the third quarter worth about $4,706,000. Segall Bryant & Hamill LLC purchased a new position in shares of Financial Institutions in the third quarter worth about $1,364,000. Barclays PLC raised its stake in shares of Financial Institutions by 48.4% in the third quarter. Barclays PLC now owns 44,798 shares of the bank’s stock worth $1,141,000 after purchasing an additional 14,606 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Financial Institutions by 32.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 97,559 shares of the bank’s stock worth $2,485,000 after purchasing an additional 23,885 shares during the last quarter. 60.45% of the stock is currently owned by hedge funds and other institutional investors.

About Financial Institutions

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.