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

StockNews.com upgraded shares of Financial Institutions (NASDAQ:FISI) from a hold rating to a buy rating in a report published on Saturday.

Separately, Keefe, Bruyette & Woods reaffirmed a market perform rating and issued a $25.00 target price (up previously from $20.00) on shares of Financial Institutions in a report on Monday, July 29th.

Financial Institutions Price Performance

Financial Institutions stock opened at $25.26 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.86. Financial Institutions has a 52 week low of $15.22 and a 52 week high of $27.75. The stock has a market capitalization of $390.19 million, a P/E ratio of 10.06 and a beta of 0.89. The stock has a fifty day moving average of $24.71 and a 200-day moving average of $20.45.

Financial Institutions (NASDAQ:FISI) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.92. Financial Institutions had a return on equity of 12.06% and a net margin of 13.95%. The company had revenue of $102.80 million during the quarter. During the same period last year, the firm posted $0.91 EPS. On average, sell-side analysts expect that Financial Institutions will post 3.64 earnings per share for the current fiscal year.

Financial Institutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Friday, September 13th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, September 13th. This represents a $1.20 annualized dividend and a dividend yield of 4.75%. Financial Institutions’s payout ratio is 47.81%.

Institutional Investors Weigh In On Financial Institutions

Several institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its position in shares of Financial Institutions by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,811 shares of the bank’s stock valued at $166,000 after purchasing an additional 742 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Financial Institutions by 11.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,276 shares of the bank’s stock valued at $237,000 after purchasing an additional 1,216 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Financial Institutions during the 2nd quarter valued at about $25,000. Bank of New York Mellon Corp boosted its position in shares of Financial Institutions by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 155,257 shares of the bank’s stock valued at $3,000,000 after purchasing an additional 2,653 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Financial Institutions by 150.4% during the 2nd quarter. CWM LLC now owns 5,438 shares of the bank’s stock valued at $105,000 after purchasing an additional 3,266 shares in the last quarter. Institutional investors own 60.45% of the company’s stock.

About Financial Institutions

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.