Piper Jaffray Companies Reaffirms Hold Rating for Financial Institutions, Inc. (FISI)
Financial Institutions, Inc. (NASDAQ:FISI)‘s stock had its “hold” rating reiterated by stock analysts at Piper Jaffray Companies in a research report issued to clients and investors on Wednesday. They presently have a $31.50 price objective on the bank’s stock. Piper Jaffray Companies’ target price suggests a potential upside of 6.42% from the stock’s current price.
Other analysts also recently issued reports about the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $33.00 price objective on shares of Financial Institutions in a report on Friday, September 22nd. ValuEngine upgraded shares of Financial Institutions from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th.
Shares of Financial Institutions (FISI) opened at 29.60 on Wednesday. Financial Institutions has a 12-month low of $25.65 and a 12-month high of $35.40. The firm has a market cap of $443.94 million, a P/E ratio of 14.45 and a beta of 1.20. The company’s 50 day moving average price is $27.41 and its 200 day moving average price is $30.11.
Financial Institutions (NASDAQ:FISI) last released its quarterly earnings results on Tuesday, July 25th. The bank reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.08). The company had revenue of $36.76 million during the quarter. Financial Institutions had a return on equity of 10.03% and a net margin of 20.08%. Equities research analysts forecast that Financial Institutions will post $1.95 EPS for the current year.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Teachers Advisors LLC lifted its position in Financial Institutions by 9.6% in the 4th quarter. Teachers Advisors LLC now owns 23,702 shares of the bank’s stock worth $811,000 after buying an additional 2,084 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Financial Institutions by 11.6% in the first quarter. Russell Investments Group Ltd. now owns 49,922 shares of the bank’s stock worth $1,644,000 after buying an additional 5,169 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Financial Institutions by 5.8% in the first quarter. Bank of New York Mellon Corp now owns 108,947 shares of the bank’s stock worth $3,590,000 after buying an additional 5,988 shares in the last quarter. Karp Capital Management Corp purchased a new stake in Financial Institutions in the first quarter worth approximately $269,000. Finally, Parametric Portfolio Associates LLC boosted its stake in Financial Institutions by 7.2% in the first quarter. Parametric Portfolio Associates LLC now owns 28,909 shares of the bank’s stock worth $953,000 after buying an additional 1,945 shares in the last quarter. 67.11% of the stock is currently owned by institutional investors.
Financial Institutions Company Profile
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.
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