Recent Research Analysts’ Ratings Updates for Financial Institutions (FISI)

A number of research firms have changed their ratings and price targets for Financial Institutions (NASDAQ: FISI):

  • 10/19/2018 – Financial Institutions was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 10/18/2018 – Financial Institutions was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/17/2018 – Financial Institutions was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 10/13/2018 – Financial Institutions was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 9/29/2018 – Financial Institutions was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 9/1/2018 – Financial Institutions was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.

Shares of FISI opened at $28.10 on Monday. Financial Institutions, Inc. has a twelve month low of $28.02 and a twelve month high of $34.35. The firm has a market capitalization of $447.49 million, a PE ratio of 14.48 and a beta of 0.97. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.11.

Financial Institutions (NASDAQ:FISI) last announced its earnings results on Thursday, July 26th. The bank reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.17. The business had revenue of $38.63 million for the quarter, compared to the consensus estimate of $38.30 million. Financial Institutions had a net margin of 23.24% and a return on equity of 10.49%. On average, equities research analysts predict that Financial Institutions, Inc. will post 2.54 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 2nd. Investors of record on Thursday, September 13th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.42%. The ex-dividend date was Wednesday, September 12th. Financial Institutions’s dividend payout ratio is presently 49.48%.

In other Financial Institutions news, Director Andrew W. Dorn, Jr. bought 900 shares of the company’s stock in a transaction on Tuesday, July 31st. The shares were bought at an average cost of $32.45 per share, for a total transaction of $29,205.00. Following the acquisition, the director now directly owns 19,446 shares in the company, valued at $631,022.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Martin Kearney Birmingham bought 1,500 shares of the company’s stock in a transaction on Tuesday, August 21st. The shares were acquired at an average price of $31.95 per share, for a total transaction of $47,925.00. Following the completion of the acquisition, the chief executive officer now owns 72,596 shares in the company, valued at $2,319,442.20. The disclosure for this purchase can be found here. Insiders purchased a total of 2,900 shares of company stock worth $92,980 in the last ninety days. 4.34% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in FISI. Bank of Montreal Can raised its position in Financial Institutions by 29.7% during the 3rd quarter. Bank of Montreal Can now owns 38,823 shares of the bank’s stock worth $1,218,000 after buying an additional 8,901 shares during the last quarter. United Services Automobile Association grew its stake in Financial Institutions by 63.2% in the 2nd quarter. United Services Automobile Association now owns 53,441 shares of the bank’s stock valued at $1,758,000 after acquiring an additional 20,700 shares during the period. Northern Trust Corp grew its stake in Financial Institutions by 4.6% in the 2nd quarter. Northern Trust Corp now owns 304,931 shares of the bank’s stock valued at $10,033,000 after acquiring an additional 13,316 shares during the period. Bank of New York Mellon Corp grew its stake in Financial Institutions by 1.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 111,300 shares of the bank’s stock valued at $3,662,000 after acquiring an additional 2,026 shares during the period. Finally, California Public Employees Retirement System grew its stake in Financial Institutions by 4.2% in the 2nd quarter. California Public Employees Retirement System now owns 51,771 shares of the bank’s stock valued at $1,703,000 after acquiring an additional 2,072 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

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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