Financial Institutions, Inc. (FISI) Sets New 12-Month Low at $25.75
Shares of Financial Institutions, Inc. (NASDAQ:FISI) reached a new 52-week low during trading on Thursday . The company traded as low as $25.75 and last traded at $25.73, with a volume of 52,236 shares traded. The stock had previously closed at $26.60.
A number of analysts recently commented on FISI shares. ValuEngine upgraded Financial Institutions from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Piper Jaffray Companies restated a “hold” rating and issued a $31.50 price target on shares of Financial Institutions in a report on Thursday, August 3rd.
The company’s 50 day moving average is $28.08 and its 200-day moving average is $31.01. The firm has a market capitalization of $386.95 million, a P/E ratio of 12.59 and a beta of 1.20.
Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings results on Tuesday, July 25th. The bank reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.48 by $0.08. The business had revenue of $36.76 million for the quarter. Financial Institutions had a net margin of 20.08% and a return on equity of 10.03%. On average, equities analysts forecast that Financial Institutions, Inc. will post $1.96 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, September 14th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.26%. The ex-dividend date is Wednesday, September 13th. Financial Institutions’s payout ratio is 40.98%.
A number of hedge funds have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd acquired a new position in Financial Institutions in the 2nd quarter worth about $216,000. The Manufacturers Life Insurance Company increased its position in Financial Institutions by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,560 shares of the bank’s stock worth $374,000 after purchasing an additional 860 shares during the last quarter. State Street Corp increased its position in Financial Institutions by 9.0% in the 2nd quarter. State Street Corp now owns 262,643 shares of the bank’s stock worth $7,829,000 after purchasing an additional 21,760 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its position in Financial Institutions by 12.7% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 50,495 shares of the bank’s stock worth $1,504,000 after purchasing an additional 5,700 shares during the last quarter. Finally, Numeric Investors LLC increased its position in Financial Institutions by 306.4% in the 2nd quarter. Numeric Investors LLC now owns 241,803 shares of the bank’s stock worth $7,206,000 after purchasing an additional 182,306 shares during the last quarter. 67.11% of the stock is currently owned by institutional investors.
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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