Financial Institutions’ (NASDAQ:FISI) Hold Rating Reiterated at Piper Jaffray Companies
Financial Institutions, Inc. (NASDAQ:FISI)‘s stock had its “hold” rating reiterated by Piper Jaffray Companies in a report released on Thursday. They currently have a $31.50 price target on the bank’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 11.70% from the company’s current price.
A number of other research analysts also recently issued reports on the stock. ValuEngine upgraded shares of Financial Institutions from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $33.00 price target on shares of Financial Institutions in a research report on Wednesday, April 26th.
Shares of Financial Institutions (NASDAQ:FISI) traded up 0.71% during midday trading on Thursday, hitting $28.20. 41,206 shares of the stock were exchanged. The company has a market cap of $413.50 million, a PE ratio of 13.76 and a beta of 1.19. Financial Institutions has a 12-month low of $25.98 and a 12-month high of $35.40. The firm has a 50-day moving average price of $29.98 and a 200-day moving average price of $32.09.
Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings results on Tuesday, July 25th. The bank reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.08. Financial Institutions had a return on equity of 10.22% and a net margin of 20.08%. The business had revenue of $36.76 million during the quarter. On average, equities analysts predict that Financial Institutions will post $2.00 EPS for the current year.
Hedge funds have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System purchased a new stake in shares of Financial Institutions during the fourth quarter valued at $218,000. State Street Corp increased its stake in shares of Financial Institutions by 9.3% in the fourth quarter. State Street Corp now owns 262,810 shares of the bank’s stock valued at $8,987,000 after buying an additional 22,270 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Financial Institutions by 9.6% in the fourth quarter. Teachers Advisors LLC now owns 23,702 shares of the bank’s stock valued at $811,000 after buying an additional 2,084 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Financial Institutions during the fourth quarter valued at $1,179,000. Finally, Nationwide Fund Advisors increased its stake in shares of Financial Institutions by 36.5% in the first quarter. Nationwide Fund Advisors now owns 121,808 shares of the bank’s stock valued at $4,014,000 after buying an additional 32,582 shares in the last quarter. Hedge funds and other institutional investors own 63.71% of the company’s stock.
About Financial Institutions
Financial Institutions, Inc is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank; Scott Danahy Naylon, LLC (SDN), a full service insurance agency, and Courier Capital, LLC (Courier Capital), an investment advisory and wealth management company.
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