Shares of Financial Institutions, Inc. (NASDAQ:FISI) have been given a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating. Financial Institutions’ rating score has declined by 50% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a 12-month consensus price target of $33.00 for the company and are forecasting that the company will post $0.55 EPS for the current quarter, according to Zacks. Zacks has also given Financial Institutions an industry rank of 112 out of 265 based on the ratings given to its competitors.
A number of analysts recently issued reports on FISI shares. BidaskClub downgraded shares of Financial Institutions from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 28th. ValuEngine raised shares of Financial Institutions from a “hold” rating to a “buy” rating in a report on Wednesday, April 11th. Hovde Group reissued a “buy” rating and set a $36.00 price target on shares of Financial Institutions in a report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods downgraded shares of Financial Institutions to a “market perform” rating and set a $35.00 price target on the stock. in a report on Thursday, March 15th.
Financial Institutions (NASDAQ:FISI) last announced its quarterly earnings results on Monday, January 29th. The bank reported $0.50 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.50. Financial Institutions had a net margin of 20.34% and a return on equity of 9.07%. The firm had revenue of $38.75 million for the quarter. equities analysts expect that Financial Institutions will post 2.34 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Thursday, March 15th were issued a dividend of $0.24 per share. The ex-dividend date was Wednesday, March 14th. This is an increase from Financial Institutions’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 3.06%. Financial Institutions’s dividend payout ratio is 49.48%.
In related news, Director Andrew W. Dorn, Jr. acquired 1,557 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were acquired at an average cost of $30.95 per share, with a total value of $48,189.15. Following the completion of the acquisition, the director now directly owns 16,999 shares in the company, valued at approximately $526,119.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 5.49% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. lifted its holdings in Financial Institutions by 2.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 127,867 shares of the bank’s stock valued at $3,683,000 after purchasing an additional 2,803 shares in the last quarter. Two Sigma Investments LP lifted its holdings in Financial Institutions by 5.2% during the fourth quarter. Two Sigma Investments LP now owns 61,181 shares of the bank’s stock valued at $1,903,000 after purchasing an additional 3,016 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in Financial Institutions by 14.5% during the fourth quarter. Sterling Capital Management LLC now owns 27,625 shares of the bank’s stock valued at $859,000 after purchasing an additional 3,494 shares in the last quarter. Ramsey Quantitative Systems purchased a new position in Financial Institutions during the fourth quarter valued at $113,000. Finally, California Public Employees Retirement System lifted its holdings in Financial Institutions by 9.6% during the fourth quarter. California Public Employees Retirement System now owns 46,710 shares of the bank’s stock valued at $1,453,000 after purchasing an additional 4,104 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.
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About Financial Institutions
Financial Institutions, Inc operates as the holding company for Five Star Bank that provides banking and financial services to individuals, municipalities, and businesses. It operates in two segments, Banking and Non-Banking. The company offers checking and savings account programs, including money market accounts, certificates of deposit, and sweep investments, as well as individual retirement and other qualified plan accounts.
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