Zacks Investment Research upgraded shares of Financial Institutions (NASDAQ:FISI) from a sell rating to a hold rating in a research note released on Tuesday morning.

According to Zacks, “Financial Institution Inc. is a bank holding company. The banks provide a wide range of consumer and commercial banking services and products to individuals, municipalities and small and medium size businesses, including agribusiness. While the banks function as community banks, the company strives to provide their customers with a broad range of competitive services generally provided only by larger, regional banks. “

FISI has been the subject of a number of other reports. BidaskClub downgraded Financial Institutions from a sell rating to a strong sell rating in a research report on Friday, October 19th. ValuEngine downgraded Financial Institutions from a hold rating to a sell rating in a research report on Thursday, October 18th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $35.33.

NASDAQ:FISI traded down $0.49 on Tuesday, reaching $29.13. 32,405 shares of the company’s stock were exchanged, compared to its average volume of 49,999. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market capitalization of $469.63 million, a PE ratio of 15.02 and a beta of 0.93. Financial Institutions has a 52-week low of $26.48 and a 52-week high of $34.35.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings results on Thursday, October 25th. The bank reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.05. Financial Institutions had a net margin of 23.61% and a return on equity of 11.00%. The company had revenue of $40.72 million for the quarter, compared to analyst estimates of $39.20 million. Analysts expect that Financial Institutions will post 2.57 EPS for the current fiscal year.

In related news, CEO Martin Kearney Birmingham acquired 2,000 shares of the stock in a transaction dated Tuesday, October 30th. The stock was acquired at an average cost of $28.44 per share, with a total value of $56,880.00. Following the completion of the transaction, the chief executive officer now owns 74,596 shares in the company, valued at approximately $2,121,510.24. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Over the last three months, insiders have bought 3,845 shares of company stock valued at $114,655. Corporate insiders own 4.34% of the company’s stock.

Several institutional investors have recently made changes to their positions in FISI. Wells Fargo & Company MN boosted its holdings in Financial Institutions by 10.1% in the first quarter. Wells Fargo & Company MN now owns 23,958 shares of the bank’s stock valued at $709,000 after purchasing an additional 2,193 shares in the last quarter. BlackRock Inc. boosted its holdings in Financial Institutions by 5.0% in the first quarter. BlackRock Inc. now owns 1,170,659 shares of the bank’s stock valued at $34,652,000 after purchasing an additional 55,557 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Financial Institutions by 6.4% in the first quarter. California Public Employees Retirement System now owns 49,699 shares of the bank’s stock valued at $1,471,000 after purchasing an additional 2,989 shares in the last quarter. LPL Financial LLC acquired a new position in Financial Institutions in the first quarter valued at approximately $311,000. Finally, Bessemer Group Inc. boosted its holdings in Financial Institutions by 343.3% in the second quarter. Bessemer Group Inc. now owns 13,300 shares of the bank’s stock valued at $438,000 after purchasing an additional 10,300 shares in the last quarter. 70.75% of the stock is owned by institutional investors and hedge funds.

About Financial Institutions

Financial Institutions, Inc operates as the holding company for Five Star Bank that provides banking and financial services to individuals, municipalities, and businesses. It operates in two segments, Banking and Non-Banking. The company offers checking and savings account programs, including money market accounts, certificates of deposit, and sweep investments, as well as individual retirement and other qualified plan accounts.

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