Financial Institutions Inc. (FISI) Shares Gap Up to $26.38
Financial Institutions Inc. (NASDAQ:FISI) shares gapped up before the market opened on Thursday . The stock had previously closed at $26.28, but opened at $26.38. Financial Institutions shares last traded at $27.02, with a volume of 37,324 shares traded.
Separately, Keefe, Bruyette & Woods lifted their target price on Financial Institutions from $26.00 to $27.00 and gave the stock a “market perform” rating in a report on Thursday, July 28th.
The firm has a market capitalization of $389.28 million and a PE ratio of 13.69. The firm has a 50-day moving average of $26.38 and a 200-day moving average of $27.32.
Financial Institutions (NASDAQ:FISI) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.48 by $0.01. On average, equities research analysts predict that Financial Institutions Inc. will post $1.92 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 5th. Stockholders of record on Monday, June 13th were issued a $0.20 dividend. The ex-dividend date was Thursday, June 9th. This represents a $0.80 annualized dividend and a dividend yield of 2.97%.
In other news, Director Andrew W. Dorn, Jr. purchased 1,000 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were purchased at an average price of $27.11 per share, with a total value of $27,110.00. Following the completion of the acquisition, the director now owns 12,205 shares in the company, valued at approximately $330,877.55. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jeffrey Patrick Kenefick sold 4,096 shares of the company’s stock in a transaction on Monday, June 13th. The stock was sold at an average price of $27.52, for a total transaction of $112,721.92. Following the completion of the transaction, the executive vice president now directly owns 10,269 shares in the company, valued at approximately $282,602.88. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Financial Institutions stock. Nationwide Fund Advisors boosted its stake in Financial Institutions Inc. (NASDAQ:FISI) by 21.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 67,101 shares of the company’s stock after buying an additional 11,900 shares during the period. Nationwide Fund Advisors owned approximately 0.48% of Financial Institutions worth $1,879,000 at the end of the most recent reporting period.
Financial Institutions, Inc (FII) is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank, and Scott Danahy Naylon, LLC (SDN), a full service insurance agency. The Company offers an array of deposit, lending, insurance services and other financial services to individuals, municipalities and businesses in Western and Central New York through the Bank.
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