Financial Institutions (NASDAQ:FISI) Stock Price Breaks Below 50-Day Moving Average – What’s Next?

Financial Institutions, Inc. (NASDAQ:FISI) crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $40.02 and traded as low as $39.68. Financial Institutions shares last traded at $39.97, with a volume of 134,353 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FISI. Piper Sandler reiterated a “neutral” rating and issued a $45.00 price objective (up from $38.00) on shares of Financial Institutions in a report on Monday, August 3rd. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Financial Institutions in a research note on Monday, November 2nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Financial Institutions in a report on Friday, October 2nd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Financial Institutions Stock Performance

The firm’s 50 day moving average is $40.00 and its two-hundred day moving average is $37.05. The stock has a market capitalization of $784.78 million, a PE ratio of 9.90 and a beta of 0.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.88 and a current ratio of 0.87.

Financial Institutions (NASDAQ:FISI) last issued its quarterly earnings results on Thursday, October 29th. The bank reported $0.99 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.06). Financial Institutions had a net margin of 21.71% and a return on equity of 13.39%. The business had revenue of $64.75 million during the quarter, compared to analysts’ expectations of $66.55 million. As a group, research analysts predict that Financial Institutions, Inc. will post 4.12 earnings per share for the current year.

Financial Institutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Tuesday, September 15th were issued a $0.32 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $1.28 dividend on an annualized basis and a yield of 3.2%. Financial Institutions’s dividend payout ratio (DPR) is 31.76%.

Institutional Investors Weigh In On Financial Institutions

Several large investors have recently bought and sold shares of FISI. State of Alaska Department of Revenue purchased a new position in shares of Financial Institutions in the 3rd quarter valued at about $28,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Financial Institutions during the second quarter worth approximately $38,000. Royal Bank of Canada increased its stake in shares of Financial Institutions by 31.6% during the first quarter. Royal Bank of Canada now owns 1,290 shares of the bank’s stock worth $40,000 after buying an additional 310 shares during the period. Fifth Third Bancorp purchased a new stake in shares of Financial Institutions during the first quarter worth approximately $52,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Financial Institutions during the second quarter worth approximately $56,000. Hedge funds and other institutional investors own 60.45% of the company’s stock.

About Financial Institutions

Financial Institutions, Inc. is a financial holding company that provides banking and related financial services through its subsidiaries, including Five Star Bank. Its offerings serve both individuals and businesses. Five Star Bank provides deposit accounts, lending, mortgage and other banking services. The company also offers wealth management services through its subsidiary, Courier Capital, LLC. Based in Warsaw, New York, Financial Institutions primarily serves communities in western and central New York through Five Star Bank’s branch network and other service channels.