Financial Institutions (NASDAQ:FISI) Stock Rating Upgraded by StockNews.com

Financial Institutions (NASDAQ:FISI) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

A number of other equities research analysts also recently issued reports on the stock. Piper Sandler initiated coverage on shares of Financial Institutions in a research note on Friday, December 20th. They set an “overweight” rating and a $33.00 price target on the stock. Keefe, Bruyette & Woods upgraded shares of Financial Institutions from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $29.00 to $34.00 in a report on Monday, February 3rd. Finally, Stephens reiterated an “equal weight” rating and set a $33.00 target price on shares of Financial Institutions in a report on Friday, January 31st.

Financial Institutions Price Performance

FISI stock opened at $28.00 on Tuesday. Financial Institutions has a one year low of $16.29 and a one year high of $29.34. The company’s fifty day moving average price is $27.16 and its 200-day moving average price is $26.04. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $433.16 million, a PE ratio of -19.31 and a beta of 0.90.

Financial Institutions (NASDAQ:FISI) last released its earnings results on Thursday, January 30th. The bank reported $0.54 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.20). Financial Institutions had a positive return on equity of 11.12% and a negative net margin of 6.69%. On average, equities analysts anticipate that Financial Institutions will post 3.3 EPS for the current fiscal year.

Insider Buying and Selling at Financial Institutions

In other news, Director Robert N. Latella purchased 4,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was acquired at an average cost of $25.00 per share, with a total value of $100,000.00. Following the completion of the transaction, the director now owns 16,000 shares in the company, valued at $400,000. This represents a 33.33 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.68% of the company’s stock.

Hedge Funds Weigh In On Financial Institutions

Several hedge funds and other institutional investors have recently modified their holdings of FISI. R Squared Ltd purchased a new position in shares of Financial Institutions in the 4th quarter valued at approximately $30,000. Picton Mahoney Asset Management raised its position in shares of Financial Institutions by 45.5% in the 4th quarter. Picton Mahoney Asset Management now owns 1,196 shares of the bank’s stock valued at $32,000 after purchasing an additional 374 shares during the last quarter. US Bancorp DE raised its position in shares of Financial Institutions by 119.3% in the 3rd quarter. US Bancorp DE now owns 2,572 shares of the bank’s stock valued at $66,000 after purchasing an additional 1,399 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Financial Institutions in the 3rd quarter valued at approximately $164,000. Finally, CWM LLC raised its position in shares of Financial Institutions by 50.3% in the 3rd quarter. CWM LLC now owns 8,172 shares of the bank’s stock valued at $208,000 after purchasing an additional 2,734 shares during the last quarter. 60.45% of the stock is owned by hedge funds and other institutional investors.

Financial Institutions Company Profile

Financial Institutions, Inc operates as a holding company for the Five Star Bank, a chartered bank that provides banking and financial services to individuals, municipalities, and businesses in New York. The company provides checking and savings account programs, including money market accounts, certificates of deposit, sweep investments, and individual retirement and other qualified plan accounts, as well as NOW accounts.