Zacks: Financial Institutions Inc. (NASDAQ:FISI) Given Consensus Rating of “Hold” by Brokerages
Financial Institutions Inc. (NASDAQ:FISI) has earned a consensus broker rating score of 3.00 (Hold) from the two analysts that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation.
Brokers have set a 1 year consensus price objective of $26.50 for the company and are forecasting that the company will post $0.50 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Financial Institutions an industry rank of 102 out of 265 based on the ratings given to related companies.
Separately, Keefe, Bruyette & Woods raised their price target on Financial Institutions from $26.00 to $27.00 and gave the stock a “market perform” rating in a research report on Thursday, July 28th.
Shares of Financial Institutions (NASDAQ:FISI) traded down 0.37% during midday trading on Wednesday, hitting $26.72. The stock had a trading volume of 6,357 shares. The firm has a market capitalization of $386.21 million, a PE ratio of 13.56 and a beta of 1.08. The firm’s 50-day moving average price is $26.73 and its 200-day moving average price is $27.29. Financial Institutions has a one year low of $24.05 and a one year high of $29.53.
Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Financial Institutions had a return on equity of 10.28% and a net margin of 20.63%. On average, equities analysts predict that Financial Institutions will post $1.95 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 12th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, September 8th. This represents a $0.80 annualized dividend and a yield of 2.98%. Financial Institutions’s dividend payout ratio is presently 40.61%.
In other Financial Institutions news, Director Andrew W. Dorn, Jr. bought 1,000 shares of Financial Institutions stock in a transaction on Friday, July 29th. The shares were purchased at an average cost of $27.11 per share, for a total transaction 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 document filed with the SEC, which is accessible through this link. Also, CAO William L. Kreienberg bought 3,000 shares of Financial Institutions stock in a transaction on Wednesday, August 17th. The shares were acquired at an average price of $26.43 per share, for a total transaction of $79,290.00. Following the completion of the acquisition, the chief accounting officer now owns 4,485 shares of the company’s stock, valued at approximately $118,538.55. The disclosure for this purchase can be found here. Company insiders own 6.23% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Nationwide Fund Advisors raised its position in Financial Institutions by 177.7% in the second quarter. Nationwide Fund Advisors now owns 66,572 shares of the company’s stock valued at $1,736,000 after buying an additional 42,600 shares in the last quarter. Clover Partners L.P. raised its position in Financial Institutions by 5.6% in the first quarter. Clover Partners L.P. now owns 795,799 shares of the company’s stock valued at $23,134,000 after buying an additional 42,442 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in Financial Institutions during the second quarter valued at $1,017,000. RMB Capital Management LLC raised its position in Financial Institutions by 55.3% in the second quarter. RMB Capital Management LLC now owns 99,124 shares of the company’s stock valued at $2,584,000 after buying an additional 35,300 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Financial Institutions by 3.3% in the first quarter. Wellington Management Group LLP now owns 1,090,228 shares of the company’s stock valued at $31,693,000 after buying an additional 34,907 shares in the last quarter. Hedge funds and other institutional investors own 59.30% of the company’s stock.
About Financial Institutions
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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