Financial Institutions, Inc. (FISI) Earns “Hold” Rating from Keefe, Bruyette & Woods
Keefe, Bruyette & Woods restated their hold rating on shares of Financial Institutions, Inc. (NASDAQ:FISI) in a research note published on Friday morning. The brokerage currently has a $33.00 target price on the bank’s stock.
Other equities analysts have also issued reports about the stock. ValuEngine lowered shares of Financial Institutions from a buy rating to a hold rating in a report on Thursday, September 7th. Piper Jaffray Companies reiterated a hold rating and set a $31.50 target price on shares of Financial Institutions in a report on Thursday, August 3rd.
Shares of Financial Institutions (NASDAQ:FISI) opened at 27.80 on Friday. Financial Institutions has a 52 week low of $25.65 and a 52 week high of $35.40. The stock has a market capitalization of $416.94 million, a P/E ratio of 13.57 and a beta of 1.20. The stock has a 50 day moving average price of $27.25 and a 200 day moving average price of $30.49.
Financial Institutions (NASDAQ:FISI) last released its earnings results on Tuesday, July 25th. The bank reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.08). Financial Institutions had a net margin of 20.08% and a return on equity of 10.03%. The business had revenue of $36.76 million for the quarter. On average, equities research analysts expect that Financial Institutions will post $1.96 EPS for the current year.
TRADEMARK VIOLATION WARNING: “Financial Institutions, Inc. (FISI) Earns “Hold” Rating from Keefe, Bruyette & Woods” was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/09/26/financial-institutions-inc-fisi-earns-hold-rating-from-keefe-bruyette-woods.html.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Thursday, September 14th will be issued a $0.21 dividend. The ex-dividend date is Wednesday, September 13th. This represents a $0.84 dividend on an annualized basis and a yield of 3.02%. Financial Institutions’s payout ratio is currently 40.98%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new position in Financial Institutions in the 2nd quarter worth approximately $216,000. The Manufacturers Life Insurance Company raised its holdings in Financial Institutions by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,560 shares of the bank’s stock worth $374,000 after acquiring an additional 860 shares during the last quarter. State Street Corp raised its holdings in Financial Institutions by 9.0% in the 2nd quarter. State Street Corp now owns 262,643 shares of the bank’s stock worth $7,829,000 after acquiring an additional 21,760 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its holdings in Financial Institutions by 12.7% in the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 50,495 shares of the bank’s stock worth $1,504,000 after acquiring an additional 5,700 shares during the last quarter. Finally, Numeric Investors LLC raised its holdings in Financial Institutions by 306.4% in the 2nd quarter. Numeric Investors LLC now owns 241,803 shares of the bank’s stock worth $7,206,000 after acquiring an additional 182,306 shares during the last quarter. Institutional investors own 67.11% of the company’s stock.
About Financial Institutions
Financial Institutions, Inc is a financial holding company. The Company conducts its business through its subsidiaries: Five Star Bank (the Bank), a New York chartered bank; Scott Danahy Naylon, LLC (SDN), a full service insurance agency, and Courier Capital, LLC (Courier Capital), an investment advisory and wealth management company.
Receive News & Stock Ratings for Financial Institutions Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Financial Institutions Inc. and related stocks with our FREE daily email newsletter.