Financial Institutions’ (FISI) “Hold” Rating Reaffirmed at Piper Jaffray Companies
Piper Jaffray Companies reaffirmed their hold rating on shares of Financial Institutions, Inc. (NASDAQ:FISI) in a report issued on Wednesday. They currently have a $31.50 target price on the bank’s stock.
A number of other equities research analysts also recently weighed in on the company. ValuEngine raised Financial Institutions from a hold rating to a buy rating in a research report on Tuesday, June 20th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $33.00 price objective on shares of Financial Institutions in a research report on Friday, September 22nd.
Financial Institutions (NASDAQ:FISI) remained flat at $29.50 during trading on Wednesday. The stock had a trading volume of 93,381 shares. The stock has a market capitalization of $442.44 million, a PE ratio of 14.40 and a beta of 1.20. Financial Institutions has a 1-year low of $25.65 and a 1-year high of $35.40. The firm’s 50-day moving average is $27.49 and its 200-day moving average is $30.11.
Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.08). Financial Institutions had a net margin of 20.08% and a return on equity of 10.03%. The company had revenue of $36.76 million for the quarter. On average, equities research analysts anticipate that Financial Institutions will post $1.95 EPS for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Thursday, September 14th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.85%. The ex-dividend date was Wednesday, September 13th. Financial Institutions’s dividend payout ratio is presently 40.98%.
A number of hedge funds and other institutional investors have recently modified their holdings of FISI. Teachers Advisors LLC boosted its holdings in Financial Institutions by 9.6% in the fourth quarter. Teachers Advisors LLC now owns 23,702 shares of the bank’s stock worth $811,000 after acquiring an additional 2,084 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Financial Institutions by 11.6% in the first quarter. Russell Investments Group Ltd. now owns 49,922 shares of the bank’s stock worth $1,644,000 after acquiring an additional 5,169 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Financial Institutions by 5.8% in the first quarter. Bank of New York Mellon Corp now owns 108,947 shares of the bank’s stock worth $3,590,000 after acquiring an additional 5,988 shares in the last quarter. Karp Capital Management Corp acquired a new stake in Financial Institutions in the first quarter worth about $269,000. Finally, Parametric Portfolio Associates LLC boosted its holdings in Financial Institutions by 7.2% in the first quarter. Parametric Portfolio Associates LLC now owns 28,909 shares of the bank’s stock worth $953,000 after acquiring an additional 1,945 shares in the last quarter. 67.11% of the stock is owned by institutional investors and hedge funds.
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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