Financial Institutions, Inc. (NASDAQ:FISI) Given Consensus Rating of “Hold” by Analysts

Financial Institutions, Inc. (NASDAQ:FISI) has earned a consensus rating of “Hold” from the five analysts that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $33.6667.

A number of analysts have commented on FISI shares. Zacks Research raised Financial Institutions to a “hold” rating in a report on Thursday, December 18th. Wall Street Zen upgraded Financial Institutions from a “hold” rating to a “buy” rating in a report on Sunday, December 28th. Weiss Ratings restated a “hold (c-)” rating on shares of Financial Institutions in a research note on Monday, December 29th. Keefe, Bruyette & Woods raised their price target on shares of Financial Institutions from $34.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Finally, Piper Sandler reissued a “neutral” rating and set a $34.00 price objective on shares of Financial Institutions in a report on Wednesday, December 17th.

Institutional Trading of Financial Institutions

Several large investors have recently modified their holdings of the company. Palisades Investment Partners LLC increased its position in Financial Institutions by 2.5% during the fourth quarter. Palisades Investment Partners LLC now owns 140,942 shares of the bank’s stock valued at $4,434,000 after acquiring an additional 3,420 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Financial Institutions during the 4th quarter valued at about $260,000. JPMorgan Chase & Co. increased its position in shares of Financial Institutions by 10.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 377,740 shares of the bank’s stock valued at $10,275,000 after purchasing an additional 34,906 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Financial Institutions in the 3rd quarter worth approximately $53,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Financial Institutions in the 3rd quarter worth approximately $320,000. Institutional investors own 60.45% of the company’s stock.

Financial Institutions Stock Performance

Shares of FISI stock opened at $31.58 on Wednesday. The company has a market capitalization of $635.71 million, a price-to-earnings ratio of -23.05 and a beta of 0.70. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.87 and a current ratio of 0.87. Financial Institutions has a one year low of $20.97 and a one year high of $33.00. The company’s 50-day moving average is $31.12 and its 200 day moving average is $28.48.

Financial Institutions (NASDAQ:FISI) last issued its earnings results on Monday, November 3rd. The bank reported $0.99 earnings per share (EPS) for the quarter. Financial Institutions had a negative net margin of 2.93% and a positive return on equity of 11.10%. The firm had revenue of $63.85 million for the quarter. Sell-side analysts expect that Financial Institutions will post 3.3 EPS for the current fiscal year.

Financial Institutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 15th were paid a dividend of $0.31 per share. The ex-dividend date was Monday, December 15th. This represents a $1.24 dividend on an annualized basis and a yield of 3.9%. Financial Institutions’s payout ratio is currently -90.51%.

Financial Institutions Company Profile

Financial Institutions, Inc (NASDAQ: FISI) is a non-diversified, closed-end management investment company that seeks to provide tax-advantaged income to shareholders. The company invests primarily in investment-grade municipal obligations issued by states, municipalities and government agencies across the United States. By focusing on high-credit-quality bonds, Financial Institutions aims to deliver current income that is exempt from federal income tax.

In constructing its portfolio, the company may also utilize money market instruments and repurchase agreements to manage liquidity and facilitate efficient settlement.