BidaskClub lowered shares of Financial Institutions (NASDAQ:FISI) from a buy rating to a hold rating in a research note released on Tuesday morning.

Several other analysts have also issued reports on FISI. Keefe, Bruyette & Woods reiterated a hold rating and issued a $33.00 target price on shares of Financial Institutions in a research note on Thursday, October 26th. Piper Jaffray Companies reaffirmed a hold rating and set a $31.50 price objective on shares of Financial Institutions in a report on Wednesday, October 4th. Finally, ValuEngine raised shares of Financial Institutions from a hold rating to a buy rating in a report on Monday, October 2nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $32.25.

Financial Institutions (FISI) traded down $0.25 during trading on Tuesday, hitting $32.40. 51,400 shares of the company were exchanged, compared to its average volume of 61,332. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.11. Financial Institutions has a 52 week low of $25.65 and a 52 week high of $35.40. The firm has a market cap of $490.16, a P/E ratio of 16.24 and a beta of 1.24.

Financial Institutions (NASDAQ:FISI) last released its earnings results on Tuesday, October 24th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.02. The company had revenue of $37.01 million for the quarter. Financial Institutions had a net margin of 19.46% and a return on equity of 9.66%. analysts anticipate that Financial Institutions will post 1.94 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Thursday, December 14th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.72%. This is an increase from Financial Institutions’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, December 13th. Financial Institutions’s dividend payout ratio is presently 43.78%.

In other news, Director Robert M. Glaser purchased 1,000 shares of the stock in a transaction dated Wednesday, December 13th. The shares were purchased at an average cost of $32.34 per share, with a total value of $32,340.00. Following the completion of the acquisition, the director now owns 13,451 shares in the company, valued at approximately $435,005.34. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Joseph L. Dugan acquired 930 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was bought at an average price of $32.15 per share, for a total transaction of $29,899.50. The disclosure for this purchase can be found here. Over the last three months, insiders bought 4,939 shares of company stock worth $158,934. Insiders own 5.49% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in shares of Financial Institutions in the third quarter worth approximately $139,000. Brandywine Global Investment Management LLC lifted its stake in Financial Institutions by 17.4% in the second quarter. Brandywine Global Investment Management LLC now owns 4,732 shares of the bank’s stock worth $142,000 after acquiring an additional 702 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Financial Institutions in the second quarter worth $216,000. Virtu KCG Holdings LLC purchased a new stake in Financial Institutions in the second quarter worth $219,000. Finally, Wells Fargo & Company MN lifted its stake in Financial Institutions by 1.7% in the second quarter. Wells Fargo & Company MN now owns 9,351 shares of the bank’s stock worth $279,000 after acquiring an additional 159 shares during the period. Institutional investors own 69.20% of the company’s stock.

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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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